Cambodians will soon be able to make cross-border payments via QR codes in Laos and Vietnam after ACLEDA Bank, with support from the National Bank of Cambodia (NBC), successfully rolled out the digital payment method in Thailand.
ACLEDA Bank’s senior executive vice president and group chief financial officer, Mar Amara, said following the February 2020 launch of the cross-border digital payment for the Khmer Riel in Thailand, more Cambodians touring or working in the neighboring country have started to make payments in Khmer Riel via scanning QR codes.
This number is predicted to increase this year and into the future when tourism and travel between Cambodia and Thailand return to pre-pandemic levels, she added.
The group chief financial officer said that ACLEDA Bank also has plans to collaborate with other ASEAN member countries to promote broader use of KHR payments via QR code to facilitate easy transactions, reduce costs and promote ASEAN financial inclusion.
ACLEDA Bank Plc. is one of Cambodia’s oldest and largest banks. It has four subsidiaries: ACLEDA Institute of Business, ACLEDA Securities Plc., ACLEDA Bank Lao Ltd., and ACLEDA MFI Myanmar Co., Ltd. as well as representative offices in Myanmar. The bank has a total of 264 branches in Cambodia; 37 branches in Laos; and 17 branches in Myanmar. [Partnered Content]
