Cambodia Promotes Cross-Border Payment Cooperation to Expand Digital Financial Ecosystem.

Cambodia recently announced the establishment of cross-border payment cooperation with countries such as Singapore, Japan, and India, aiming to broaden users' payment options. This initiative is based on the successful implementation of QR code payment interoperability with UnionPay International and Malaysia, as well as signed memorandums of understanding with the Philippines and Indonesia. The cross-border payments will be implemented in phases, with the first phase allowing Cambodian users to use QR code payments in partner countries, and the second phase allowing users from those countries to do the same in Cambodia. To enhance payment security, the National Bank of Cambodia has issued guidelines requiring financial institutions to strengthen their ability to handle payment disputes. These measures will solidify Cambodia's digital financial ecosystem and promote the digital transformation of the economy.