The National Bank of Cambodia (NBC) and the Payments Japan Association (PJA) have agreed to work together. They signed a memorandum of understanding to start cross-border QR code payments. This will connect Cambodia and Japan. The initiative will connect Cambodia’s KHQR system to Japan’s JPQR. This will enable smooth digital transactions between both countries.
In the first phase, Cambodian users can buy things in Japan. They just need to scan JPQR codes. The second phase will enable Japanese users to pay in Cambodia using KHQR. NBC chose ACLEDA Bank and Sathapana Bank as sponsoring banks for the rollout. NETSTARS will serve as the payment and settlement operator, appointed by PJA for the integration.
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This partnership shows a trend in Asia for digital payment systems that work together. It aims to make things easier, boost tourism, and strengthen economic ties. It also supports regional goals for financial inclusion. Plus, it helps simplify cross-border transactions using mobile technology.
