Malaysia and Cambodia launch Phase 2 of cross-border QR payment

Travellers will be able to enjoy instant cross-border payment through native payment applications without hassle.

Bank Negara Malaysia (BNM) and the National Bank of Cambodia (NBC) have launched the second phase of the cross-border QR payment linkage between Malaysia and Cambodia on 8 April 2025, allowing Cambodian travellers entering Malaysia to be able to continue making payments using the Bakong application by scanning Malaysia's DuitNow QR, a capability which was introduced in the first phase of this initiative. 

This comes after NBC announced that it has officially joined the Regional Payment Connectivity (RPC) initiative to further strengthen regional financial integration in Southeast Asia.

According to a statement by BNM, more than 7mn local merchants in both Malaysia and Cambodia will be given access to a wider customer base, providing economic benefits to both countries. In addition, travellers will be able to enjoy instant and hassle-free cross border payment through native payment applications. 

With the inclusion of NBC into the RPC initiative, this will bring the total number of signatories to nine ASEAN central banks, including from: 

• Indonesia,
• Singapore, 
• the Philippines,
• Malaysia,
• Thailand,
• Vietnam,
• Brunei, and 
• Laos.

Further, this growing participation of the RPC initiative supports broader economic activities in ASEAN, including greater market access for small and medium-sized enterprises (SMEs), enhanced trade facilitation, and improved remittance flows.

Sharing his thoughts on the latest phase of the QR payment linkage, Dato’ Seri Abdul Rasheed Ghaffour, Govenor, Bank Negara Malaysia, commented: "In line with Malaysia’s ASEAN Chairmanship, we are pleased to advance the vision of enhanced payment connectivity within the region through the latest phase of this QR payment linkage.

"Many ASEAN small businesses and individuals are set to reap the benefits of instant cross-border QR payments. This will further deepen financial integration within ASEAN economies. We will continue to widen reach with regional and international partners to foster an inclusive and safe payment connectivity network." 

Dr. Chea Serey, Governor, National Bank of Cambodia shared that not only does this advancement simplify cross-border transactions, but it will also unlock immense potential for tourism, financial inclusion, and regional integration. 

"This initiative is more than a technical achievement — it is a bridge between cultures, economies, and people. It embodies our commitment to harnessing technology for resilient and inclusive growth, ensuring that even the smallest merchant in Cambodia or Malaysia can participate in the global digital economy."

READ MORE: Malaysia strengthens labour cooperation with Cambodia through signed MoUs

Lead image / Bank Negara Malaysia