On December 3, in Siem Reap, Kingdom of Cambodia, within the framework of the bilateral conference program between the State Bank of Vietnam (SBV) and the National Bank of Cambodia, the two sides coordinated to organize the Ceremony. announced bilateral retail payment connection using QR codes between Vietnam and Cambodia.
The governors of the two countries' central banks performed the launching ceremony of the Cross-border payment service using QR codes. Internet photo.
The event aims to realize the commitment of the two countries in payment activities and financial innovation, including promoting the use of local currencies through implementing cross-border payment connections to bring convenience to people. people as well as support the development of trade and tourism promotion activities of the two countries.
The Vietnamese leadership delegation attending the event included Governor of the State Bank of Vietnam Nguyen Thi Hong, Director of the Payment Department of the State Bank of Vietnam Pham Anh Tuan, Chairman of the Board of Directors of NAPAS Nguyen Quang Hung, General Director of NAPAS Nguyen Quang Minh and representatives of leaders. Directing a number of Departments, State Bank of Vietnam, and commercial banks.
On the Cambodian side, there were Ms. Chea Serey, Governor of the National Bank of Cambodia and representatives of senior leaders of a number of Cambodian ministries, branches and businesses.
The governors of the two countries' central banks successfully experienced QR scanning for cross-border payments between Vietnam and Cambodia. Internet photo.
Cross-border payments are an inevitable expansion of digital financial innovation to keep up with the transaction and payment needs of people and the economy. In November 11, the National Bank of Cambodia and the State Bank of Vietnam signed a Memorandum of Understanding on cooperation in the field of financial innovation and payment systems to promote cross-border payment and remittance projects between Cambodia and Vietnam. Under the direction of the State Bank and National Bank of Cambodia, up to now, Vietnam National Payment Joint Stock Company (NAPAS) and ACLEDA Bank of Cambodia - the two units assigned to implement the project have officially completed the pilot project. Connecting retail payments using QR codes between Vietnam and Cambodia
At the announcement ceremony, Ms. Nguyen Thi Hong, Governor of the State Bank of Vietnam and Ms. Chea Serey, Governor of the National Bank of Cambodia, jointly performed the launching ceremony of a cross-border payment service using QR codes to mark an important milestone. important for the good cooperation between the Central Bank (Central Bank), businesses and commercial banking systems of the two countries. At the same time, right on the event stage, leaders of the two countries' central banks also experienced payment by scanning VietQR and Cambodia QR codes (KHQR) to buy goods and services, thereby introducing to the attendees a convenient payment method. Convenient, fast, easy, bringing many practical benefits, supporting the development of trade, commerce and tourism promotion activities of the two countries in the coming time.
By successfully deploying the above connection, through the Bakong application of the National Bank of Cambodia, customers of 57 Cambodian banks when coming to Vietnam can scan VietQR codes at payment acceptance points of the first banks to deploy. Launching services including BIDV and TPBank to pay from customers' Cambodian Riel (KHR) accounts. In contrast, Vietnamese tourists coming to Cambodia can also use mobile applications of banks including BIDV, Sacombank and TPBank to make code-scanning payments at about 1,8 million payment acceptance points in Cambodia. When using cross-border payment services using QR codes, tourists from both countries will enjoy preferential exchange rates instead of converting to a third foreign currency.
In the coming time, NAPAS will continue to cooperate with Cambodia to expand Vietnamese banks to participate in deploying services to meet the payment needs of tourists from both countries.
Also within the framework of the bilateral cooperation conference between the State Bank of Vietnam and the Bank of the Lao PDR taking place on December 1, 12 in Luang Prabang city - Laos, NAPAS and Lao National Payment Network Company Limited (LAPNET) signed Signing a cooperation agreement on research and pilot implementation of bilateral retail payment connection using QR codes between Vietnam and Laos. Thus, in Southeast Asia alone, NAPAS has implemented payment cooperation outside the territory with 2023 important partners including Thailand, Laos, and Cambodia.
As a financial switching unit and provider of national retail payment infrastructure, NAPAS has coordinated with banks to deploy NAPAS 247 Quick Transfer service with VietQR code and payment service with VietQR code. In its role as a retail payment infrastructure provider for the economy, NAPAS has been coordinating with banks, payment intermediaries, domestic and international partners to provide services to the market. Multi-utility payment through cards, bank accounts, mobile money accounts, VietQR codes, mobile devices, contributing to diversifying the non-cash payment ecosystem in Vietnam./.
Kim Oanh
