The Bank of Thailand and the National Bank of Cambodia have entered into a second phase of partnership to facilitate convenient and secure payments between the two countries. Through the mobile banking apps of Thai banks: Krung Thai Bank, Krungsri Bank and Kasikornbank, Thai tourists can now make purchases from Cambodian merchants using the code cross-border QR.
This cooperation not only reduces transaction costs but also promotes the use of local currencies, the Thai baht and the Cambodian riel, without the need for currency conversion.
Traisulee Traisoranakul, Deputy Spokesperson of the Prime Minister’s Office, stressed on June 15 that Thai travelers visiting Cambodia can use the mobile banking apps of Thai banks, such as Krung Thai Bank, Krungsri Bank and Kasikornbank, at merchants in Cambodia displaying ACLEDA Bank’s KH QR symbol (Cambodia’s QR Standard).
Cambodian tourists visiting Thailand can now make purchases from Thai merchants through the mobile banking apps of ACLEDA Bank, Sathapana Bank, Hattha Bank, FTB Bank and Cambodia Post Bank.
Transactions can be made at Thai merchants displaying the Thai QR codes of Krung Thai Bank, Bangkok Bank, Krungsri Bank, Kasikornbank and Siam Commercial Bank. The spending limit is set at 100,000 baht per transaction and no more than 500,000 baht per day.
In addition to Cambodia, the Bank of Thailand has also worked with central banks in several ASEAN countries, including Malaysia, Vietnam, Indonesia and Singapore, to develop QR code payment systems. This initiative aims to promote the use of local currencies within ASEAN, facilitate tourism in the region and reduce the cost of currency exchange.
