⬆️ Malaysia 🇲🇾 and Cambodia 🇰🇭 launch second phase of cross-border QR payments

⬆️ Malaysia 🇲🇾 and Cambodia 🇰🇭 launch second phase of cross-border QR payments

The project is led by Bank Negara Malaysia (BNM) and the National Bank of Cambodia (NBC). The first phase was implemented in 2024, only in Cambodia, where BNM recorded 5.2 million transactions — four times more than the previous year.

➡️ In this new stage, Malaysian citizens can use their local mobile banking apps to scan KHQR codes in Cambodia. Likewise, Cambodian visitors will continue using the Bakong app to scan DuitNow QR codes in Malaysia.

➡️ Around 7 million local merchants who use platforms like Maybank, Payment Network Malaysia (PayNet), and other financial entities in both countries will benefit.

➡️ Malaysia also plans to expand its QR interoperability program to more ASEAN countries during 2025.

#news #Asia

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