💪 Cambodia 🇰🇭: Cross-Border QR Payments Arrive via Alipay+

💪 Cambodia 🇰🇭: Cross-Border QR Payments Arrive via Alipay+

Transactions will be conducted through the Bakong payment system of the NBC, in collaboration with the Chinese holding company Ant International 🇨🇳. The central bank of Cambodia has already granted its approval.

▶️ Beneficiaries of this partnership will include users of 12 international payment applications, such as Alipay, AlipayHK, Touch 'n Go eWallet, GCash, and Kakao Pay.

▶️ The initiative is based on KHQR, a solution launched in 2022 specifically for retail payments in Cambodia and cross-border transactions in ASEAN countries.

🐦‍⬛️ Speaking of birds: Cambodia, particularly the coastal city of Sihanoukville, has emerged as a hub for both traditional and online gambling. This trend has been driven by its strategic location in the region, excellent access to 4G networks, and Chinese investments. Currently, Cambodia boasts 184 licensed gaming establishments, primarily catering to foreign tourists (gambling for local residents has been illegal since 1996). Although there has been regulation prohibiting online gambling since 2019, the reality on the ground differs from what the law dictates. In this culture, gambling and betting are viewed as attributes of masculinity.

#news #Asia #China #gambling

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