Thailand, Cambodia Launch Cross-Border QR Payments

New payments connectivity between the two countries is expected to promote trade, tourism, financial inclusion, and the usage of local currencies in cross-border transactions.

BOT (Bank of Thailand) and NBC (National Bank of Cambodia) have jointly announced the launch of a QR code-based retail payments link between the two Southeast Asian countries.

The QR payment service was developed and tested by Thailand’s SCB (Siam Commercial Bank) with its Cambodian subsidiary, following an MOU between BOT and NBC last year.

As the sponsoring bank in Thailand, SCB is collaborating with three banks in Cambodia to enable “interoperable QR Codes for retail payment that complies with international standards.”

In full: https://www.regulationasia.com/thailand-cambodia-launch-cross-border-qr-payments/

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