Following the successful rollout of cross-border QR payment via ACLEDA's mobile banking app in Thailand, on March 24, the bank launched a QR payment service in Vietnam, according to a senior official.

Now, Cambodians traveling to Vietnam who use ACLEDA Mobile can scan QR to pay for goods and services at any places with the VietQR logo of the Tien Phong Commercial Joint Stock Bank (TPBank) and it’s free of charge, said ACLEDA’s Senior Vice President and Head of Marketing Sok Sophea.

“Now, if you travel to Vietnam with ACLEDA Mobile, it is very convenient to pay for goods and services there. You just scan QR to pay anywhere that has the VietQR logo of Tien Phong Commercial Joint Stock Bank (TPBank). And it’s free of charge,” said Sok Sophea.

"This represents another success of ACLEDA Bank, which is a member of the Bakong system, that people can now scan QR to pay in riel in Vietnam via ACLEDA Mobile"

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“The QR payment will be transacted from the KH Riel account of the ACLEDA Mobile users,” she added.

ACLEDA’s Senior Vice President and Head of Marketing Sok Sophea. Photo supplied.

In one day, bankers can spend 12 million riels via the QR payment in Vietnam from wallet accounts, and 40 million KH Riels from bank accounts.

ACLEDA has been chosen by the National Bank of Cambodia (NBC) to be a sponsoring bank for cross-border QR payments. In early 2020, the bank partnered with Thailand’s SCB to launch the cross-border QR payment services.

The partnership then expanded to other Thai banks such as Kasikornbank (KBank), Bangkok Bank, Krungthai Bank, and Bank of Ayudhya.

After Thailand and Vietnam, ACLEDA is working on launching the QR payment in Laos and other ASEAN countries.

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The bank’s head of marketing added that over the last few years, it has noted a rapid surge in the use of its mobile banking app ACLEDA Mobile. In 2022, she said, the Bank recorded 137 million transactions on ACLEDA Mobile amounting to nearly $160 million, while there were only 77 million transactions in 2021 amounting to only $88 million. This represents an increase of more than 80 percent in terms of the value of the transactions.

So far this year, she added, the bank has noted that ACLEDA Mobile transactions increased by two or three times compared with those in the previous year. As the mobile banking transactions grow, so does the number of the bank’s mobile app. As of March 2023, there are nearly three million people who use the ACLEDA Mobile app. [Partnered Content]