Phnom Penh (FN), Dec. 20 – Cambodian Prime Minister Hun Manet stated that the National Bank of Cambodia has modernized its banking system, incorporating various payment methods using QR codes to enhance the convenience of payment services.

The premier spoke on Wednesday (Dec. 20) during an official inauguration of Wing Bank headquarters.

"The National Bank of Cambodia not only facilitates and supports banking operations but also plays a crucial role in negotiating with various countries. The communication system has streamlined diverse tourism businesses by establishing a direct payment system and implementing QR Code systems with other countries. We observed this during our time in Japan,” Samdech Thipadei Hun Manet underlined.

Samdech Thipadei added that the current global trend of physical cash is diminishing, considering the security and customs of each country. Therefore, electronic payments mark a significant turning point in the present and the future. This is particularly evident in the context of COVID19, without an electronic system, Cambodia would face considerable difficulties.

Premier Hun Manet underscores, "The use of digital platforms poses risks if not adequately secure. The World Bank has shared experiences where hackers can compromise and disrupt systems.”

On the occasion, Samdech Thidapadei urged the government to provide assistance and encourage investment in bank security systems to ensure protection.

The National Bank of Cambodia (NBC) has successfully initiated QR Code cross-border payments with Thailand. Cambodia is committed to expanding this collaboration to include Laos, China, and India. In a recent development, the NBC, in partnership with the State Bank of Viet Nam, officially introduced QR Code cross-border payments, enhancing financial connectivity between Cambodia and Viet Nam.
=FRESH NEWS