Phnom Penh, Cambodia, October 14, 2024 - PPCBank, Cambodia’s most influential Commercial Bank, has facilitated KHQR payments for international travelers who are users of more than 10 prominent mobile wallets and banking apps. These are all payment partners of Alipay+, the cross-border mobile payment platform operated by Ant International and UnionPay International, a wholly owned subsidiary of China UnionPay.
PPCBank Facilitates KHQR Payments for Travelers with Alipay/Alipay+ and UnionPay International
It means their users can now make cashless payments in Khmer Riel when visiting a PPCBank Merchant in Cambodia, simply by scanning the KHQR code. The new system provides seamless transactions and enhances the convenience and efficiency of real-time payments for travelers from a host of countries.
Currently, it’s applicable from China, Hong Kong, Philippines, South Korea, Malaysia, Macao, Singapore, Italy and Mongolia; coming soon for Thailand, Indonesia and Sweden.
With travelers from so many countries benefiting from the development, PPCBank President Mr. LEE Jin Young, said that the economic boost for Cambodia was tangible.
“With this initiative, I am seeing a new Silk Route emerging – one that is powered by cross-border payment interoperability. Businesses in the PPCBank QR ecosystem can immediately access travelers from many countries in an efficient, seamless, and secure way, bolstering trade, tourism, and financial inclusion in Cambodia,” – he said, PPCBank President Mr. LEE Jin Young
PPCBank Merchants stand to benefit significantly. The payments they receive are free of charge for them and the traveler, meaning local business owners stand to profit from the growth in tourism, with access to a stream of new customers.
The innovative platform is part of a broader effort by the National Bank of Cambodia to enable cross-border payment linkages with a single QR code. It is expected to contribute to the resurgence of international travel and foster broad economic development in the Kingdom.