Singapore and Cambodia have launched a cross-border QR code payment link that allows Cambodian visitors to pay at merchants across the city-state using their home-grown Bakong system and other mobile banking apps, the National Bank of Cambodia (NBC) said.
Under the first phase, Cambodian travellers with Khmer riel bank accounts can scan RoamQR codes displayed at SGQR merchants in Singapore to make real-time payments, removing the need to carry cash or use international cards, the NBC said in a statement.
The move is aimed at promoting the use of local currencies in day-to-day transactions and cutting reliance on traditional foreign-exchange channels for small-value payments, the central bank added.
Officials say the link is expected to support trade, investment and tourism flows between the two countries by making it easier for Cambodian consumers and businesses to pay Singapore-based counterparties in a familiar way.
The project was initiated by private-sector partners Acleda Bank Plc, Phillip Bank Plc and payments firm Liquid Group, which helped build the QR connectivity between Cambodia’s Bakong system and Singapore’s QR infrastructure.
The NBC said the collaboration marks a step up in efforts by commercial banks and fintech firms to develop cross-border digital payment rails, as Southeast Asian economies look to deepen regional financial links.
It also fits into a broader push within the Association of Southeast Asian Nations (ASEAN) to create an interoperable payment network, using QR codes and other standards to connect local systems and widen access to digital financial services.
Cambodia has been positioning Bakong — its blockchain-based payment system — as a tool to promote financial inclusion and encourage wider use of the riel, while Singapore has backed QR and real-time payment schemes as part of its own digitalisation drive.
Further phases of the Singapore–Cambodia QR tie-up could expand usage and features, though no timeline was disclosed.