The central banks of Malaysia and Cambodia launched the second phase of their cross-border QR payment linkage today.
Bank Negara Malaysia (BNM) Governor Dato’ Seri Abdul Rasheed Ghaffour and National Bank of Cambodia Governor H.E. Dr. Chea Serey officiated the launch.
With the latest update, Malaysian travellers can now use their local mobile banking apps to scan Cambodia’s KHQR codes and make payments directly.
Cambodian visitors to Malaysia can continue using the Bakong app to scan Malaysia’s DuitNow QR, a feature introduced in the initial phase.
The linkage is expected to benefit over seven million merchants across both countries by broadening their customer base and enabling more seamless payments.
Travellers will be able to make instant payments using their usual mobile apps, without the need for foreign currency or additional registration.
The initiative is supported by Maybank as the sponsoring and settlement bank, Payments Network Malaysia (PayNet), and participating financial institutions from both countries.
It also aligns with the G20 Roadmap for Enhancing Cross-border Payments and Malaysia’s ASEAN Chairmanship goals focused on inclusivity and sustainability.
The launch took place in Kuala Lumpur during the ASEAN Finance Ministers’ and Central Bank Governors’ Meeting.
Bank Negara Malaysia Governor Dato’ Seri Abdul Rasheed Ghaffour said,
“Many ASEAN small businesses and individuals are set to reap the benefits of instant cross-border QR payments. This will further deepen financial integration within ASEAN economies.
We will continue to widen reach with regional and international partners to foster an inclusive and safe payment connectivity network.”
National Bank of Cambodia Governor H. E. Dr. Chea Serey said,
“This advancement not only simplifies cross-border transactions but also unlocks immense potential for: (i) tourism, by offering Malaysian travellers frictionless payments in Cambodia, (ii) financial inclusion, by connecting SMEs and individuals to a broader economic network, and (iii) regional integration, by advancing ASEAN’s vision of a digitally interconnected community.
This initiative is more than a technical achievement— it is a bridge between cultures, economies, and people. It embodies our commitment to harnessing technology for resilient and inclusive growth, ensuring that even the smallest merchant in Cambodia or Malaysia can participate in the global digital economy.”
Featured image: (From left to right) Datuk Khairussaleh from Maybank, Dato’ Seri Abdul Rasheed Ghaffour, Governor of Bank Negara Malaysia, H.E. Dr. Chea Serey, Governor of the National Bank of Cambodia and Dato’ Izzadin from Paynet launched phase 2 of the cross-border QR payment linkage between Malaysia and Cambodia today at Kuala Lumpur Convention Centre.
