The National Bank of Cambodia (NBC) and the Payments Japan Association (PJA) have signed a MoU to connect their respective QR code payment systems, KHQR and JPQR.
The collaboration will roll out in two phases. In the first phase, Cambodian users of the Bakong payment system will be able to pay in Japan by scanning JPQR codes.
The second phase will allow Japanese users to make payments in Cambodia using KHQR codes.
NBC has selected ACLEDA Bank and Sathapana Bank as the sponsoring banks in Cambodia, while PJA has appointed NETSTARS as the payment and settlement operator in Japan.
The initiative is expected to simplify digital payments for travelers and cross-border workers, reduce the need for currency exchange, and support tourism, e-commerce, and small businesses in both nations.
This agreement builds on a memorandum of cooperation signed in December 2023 between NBC and Japan’s Ministry of Economy, Trade and Industry (METI), which was witnessed by Cambodian Prime Minister Hun Manet and Japanese Prime Minister Fumio Kishida.
The first phase is set to launch during the Osaka-Kansai Expo 2025, which will run from 13 April to 13 October 2025.
The second phase is planned for implementation by the end of 2025.
NBC and PJA will work with both public and private sector partners in each country to support the rollout.
