The National Bank of Cambodia (NBC) has officially joined the Regional Payment Connectivity (RPC) initiative, marking a further step towards enhancing financial integration in Southeast Asia.
This development follows the NBC’s formal expression of interest to participate in the initiative.
The announcement was made during the launch of the second phase of the Malaysia-Cambodia cross-border QR payment linkage, held on 8 April 2025 on the sidelines of the 12th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting in Kuala Lumpur.
The NBC signed the fourth supplemental pages of the Memorandum of Understanding on Cooperation in Regional Payment Connectivity (MOU RPC) at the event.
With Cambodia’s inclusion, the RPC now comprises nine ASEAN central banks. Originally established in 2022 by the central banks of Indonesia, Malaysia, the Philippines, Singapore and Thailand, the initiative has since expanded to include Vietnam, Brunei Darussalam and Lao PDR.
The growing number of participants reflects the initiative’s expanding influence and its potential to further strengthen regional collaboration on payment connectivity and financial integration.
The RPC initiative is designed to facilitate faster, more affordable, transparent, and inclusive cross-border payments.
Since its launch, it has supported the development of payment connectivity across the region through mechanisms such as QR code-based payments and fast payment systems.
These efforts aim to enable more seamless transactions, contributing to broader economic activity across ASEAN.
The initiative is expected to benefit small and medium-sized enterprises (SMEs), support trade facilitation, and improve remittance flows.
Governor of the NBC, H.E. Dr. Chea Serey, noted that
“Participating in the RPC initiative will foster regional economic growth and establish a more interconnected payment system within ASEAN.”
Featured image credit: edited from freepik
