The National Bank of Cambodia (NBC) and TenPay Global have signed a memorandum of understanding (MOU) to promote digital payment between China and Cambodia.

NBC said in a statement on last Wednesday that under this MOU, the NBC and TenPay Global will cooperate to enhance interoperability between Cambodia’s Bakong system (KHQR) and China’s Weixin Pay network, thereby promoting wider use of secure, convenient, and seamless digital payment services across both countries.

The partnership also aims to strengthen collaboration in potential areas of financial sector development and advance cross-border payment and remittance integration — both inbound and outbound — between Cambodia and China.

“The collaboration between the NBC and TenPay Global represents a major step forward in strengthening cross-border payment connectivity and driving financial innovation,

“It contributes to greater financial inclusion, improves payment efficiency, promotes the use of local currencies, and supports ongoing digital transformation while fostering economic exchange between Cambodia and China,” said Dr.chea Serey, Governor of the National Bank of Cambodia.

“By leveraging advanced digital payment technologies, we can deliver tangible benefits to consumers, merchants, and travelers, making financial transactions more convenient, secure, and efficient,” she added.

Meanwhile, Daniel Hong, Vice President of Tencent Financial Technology, said the path to global wallet interoperability lies at the intersection of technological advancement and sustained collaborations.

“By working together with global partners, we are enabling users to use their home wallets anywhere in the world conveniently, securely, and with the same confidence they have at home,

“In doing so, we are shaping a trusted and connected payment ecosystem that delivers real value to consumers and unlocks new opportunities for global commerce,” he added.

TenPay Global broadens integration of international wallets to Weixin Pay