Alipay+ Launches on KHQR, Facilitating Cross-border Mobile Payments Into Cambodia
October 15 2024 - 5:35AM
Business Wire
- Alipay+ enabled more than 10 international payment apps in
Cambodia via KHQR, the country’s national standardized QR code
payment
- Travelers can pay with their home payment apps at more than 1
million merchants, with more to be progressively added
The National Bank of Cambodia and Ant International have
officially launched Cross-border QR Code Payments between National
Bank of Cambodia’s Bakong payment system and Ant International’s
cross-border mobile payment and digitalization solutions,
Alipay+.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20241014038907/en/
Dr. Chea Serey, Governor of the National
Bank of Cambodia, and Edward Yue, General Manager for Southeast
Asia, Australia and New Zealand, Ant International, officiating the
launch (Photo: Business Wire)
With this initiative, Alipay+ partner users of 12 international
payment apps, including Alipay (Chinese mainland),
AlipayHK (Hong Kong SAR), Touch ‘n Go eWallet and
MyPB by Public Bank Berhad (Malaysia), GCash (the
Philippines), Kakao Pay, Toss Pay (South
Korea), OCBC and Changi Pay (Singapore), Hipay
(Mongolia), MPay (Macao SAR) and Tinaba (Italy), will
be able to seamlessly make payments to more than one million
merchants in Cambodia by scanning KHQR codes, with more to be
progressively added. This will facilitate the payment for goods and
services to businesses in Cambodia with accounts denominated in
Cambodian riels.
Commenting on this milestone, H.E. Dr. Chea Serey, Governor
of the National Bank of Cambodia, said: “One of the key
priorities of the National Bank of Cambodia has been continuously
enhancing and modernizing the cross-border payment with the region.
I firmly believe that the partnership between Alipay+ and Bakong's
KHQR network would elevate financial cooperation by leveraging
technology to benefit the customers, and is one of the most
impactful developments in supporting the country's digitalization
journey and helping merchants capture new opportunities in the
evolving landscape.”
KHQR, launched by National Bank of Cambodia in July 2022 and
operated by Bakong, was created for retail payment in Cambodia and
cross-border payment within ASEAN countries. It only requires a
single QR for receiving payment through any mobile banking apps of
Bakong members including Bakong App, making QR payment simple for
both customers and merchants in Cambodia.
Mr. Edward Yue, General Manager for Southeast Asia, Australia
and New Zealand, Ant International, said: “We thank the
National Bank of Cambodia for their visionary leadership in
digitalizing local merchants and the travel ecosystem, which will
not only enhance the travel experience for global consumers, but
will also enable more local businesses to benefit from the strong
tourism recovery. As more ‘travel like a local’ using just their
home payment apps, the local economy and community will flourish in
tandem, offering more localized experiences and building a more
vibrant ecosystem for all. We will continue to work closely with
regulators, merchants and other industry partners to create a new
future of cross-border payments and travel.”
This cross-border payment collaboration marks a significant
milestone in the expansion of cross-border payment via QR codes
under the Bakong system. It was formalized following the signing of
a Memorandum of Understanding on November 15, 2023, between the
National Bank of Cambodia and Ant International, focusing on
"Cross-border Payment Cooperation via QR Codes" at the 2023
Singapore FinTech Festival.
In addition to Cambodia, Alipay+ also has partnerships with
national standardized QR code payments in Singapore, Malaysia,
South Korea, Nepal and Sri Lanka. Today, Alipay+ connects users of
more than 30 leading international payment partners to more than 90
million merchants across 66 markets, including top travel
destinations such as China, Southeast Asia, Japan, South Korea,
Middle East, Europe and more.
About Alipay+
Alipay+ is a suite of cross-border mobile payment and
digitalization technology solutions that help connect global
merchants to consumers. Consumers enjoy seamless payment and a
broad choice of deals using their preferred payment methods while
travelling abroad. Small and medium-sized businesses may use
Alipay+ digital tools to enhance efficiency and achieve
omni-channel growth.
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version on businesswire.com: https://www.businesswire.com/news/home/20241014038907/en/
Media Inquiries: Scott Lai scott.lai@antgroup.com