On 3 December 2023, an announcement ceremony of the bilateral QR retail payment between Vietnam and Cambodia was held in Cambodia. In particular, the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) was one of the first three banks successfully establishing cross-border QR payment connection.

The QR retail payment connection between Vietnam and Cambodia is part of the cooperation framework between the State Bank of Vietnam, the National Bank of Cambodia with National Payment Corporation of Vietnam (NAPAS) and ACLEDA Bank – the two focal units providing connection infrastructure between the two countries. Compared to payment by cash and other types of cards, the cross-border QR payment between Vietnam and Cambodia brings many advantages to tourists and people of the two countries.

Delegates attend the announcement ceremony of the bilateral QR retail payment between Vietnam and Cambodia

As long as having a BIDV NAPAS card and a smartphone installing BIDV SmartBanking app, Vietnamese citizens who travel to Cambodia can scan QR codes to pay for goods and services easily, quickly and safely at Cambodia QR (KHQR) merchants, helping time and FX cost saving. Transaction value is converted between Cambodian Riel and Vietnamese Dong at the exchange rate announced at the time of payment.

Similarly, Cambodian people who visit Vietnam do not need to bring cash or exchange to Vietnamese Dong. Instead, they can use their smartphones to scan VietQR codes at thousands of BIDV’s merchants nationwide to perform payment transactions.

After Thailand, Cambodia is the second market in which BIDV has successfully launched a bilateral QR retail payment connection, helping secure convenient and safe payment experience for cardholders domestically and internationally. The launch of the service also contributes to driving digital payment for trade and tourism promotion between Vietnam and countries in the region.

Previously, on 26 March 2021, the State Bank of Vietnam officially announced the bilateral retail payment connection using interoperable QR codes between Vietnam and Thailand. In particular, BIDV was one of the pioneering banks that own merchant connection solutions for Thai customers via QR codes.

 

 

BIDV

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