The National Bank of Cambodia (NBC) will initiate strict measures on banks and microfinance institutions (MFIs) that are reluctant to replace with the common payment platform called KHQR, instead still use their respective digital payment platforms called QR codes, revealed a top NBC official to Khmer Times. It is unfair that some banks that do not develop KHQR can scan the KHQR of other banks with KHQR for digital payments or transfers made, but customers of other banks with KHQR cannot scan the respective QRs of those some banks that do not develop KHQR. Chea Serey, Director General of Central Banking of NBC, said that current customers of 38 banking and financial institutions in Cambodia can make payments through scanning KHQR and making money transfers mutually among these institutions free of charge. The KHQR Code is the single standard QR Code launched by NBC for banking and financial institutions and payment service providers to serve the customers for other goods and services settlement in Cambodia through the mobile application of individual institutions, while each of them has developed and deployed its QR Code for the services or products available at merchants under partnership agreements. (Source: Khmer Times)

 

Economy & Industry

03rd October 2022

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