KHQR Payments Reach 97 Billion Riel
KHQR is a standard mobile payment system created for retail payments in Cambodia and within the ASEAN bloc.
- By Ou Sokmean
- August 2, 2023 3:18 PM
PHNOM PENH – The number of transactions via the KHQR Code in Khmer riel has reached nearly 170,000 transactions, equivalent to 97 billion riel or roughly $23 million, according to the National Bank of Cambodia.
Launched last July, the system has seen a steady increase in transactions, with 169,195, amounting to 97 billion riel, and 216,069 USD transactions worth about $38 million as of April.
KHQR is a standard mobile payment system created for retail payments in Cambodia and within the ASEAN bloc.
It was developed by the National Bank of Cambodia to make it easier to make secure, convenient and standard payments. The system responds to Cambodia's digital economic and social policy framework 2021-2035.
In its first-half report and second-half work direction for 2023, NBC said it aims to strengthen cooperation in financial innovation and cross-border payment systems by connecting payment system infrastructure with countries in the region such as Thailand, Malaysia, Laos and Vietnam.
NBC has also discussed payment systems with Fiji, Solomon Islands, and Rwanda to exchange knowledge related to innovation and digital payments for financial services.
