News

Some 1.8 billion Khmer riel and US dollar digital transactions valued at $492 billion were recorded in 2023, which rose over 600 million from 1.1 billion transactions in 2022, the National Bank of Cambodia (NBC) said on March 29. This significant increase, an economist opined, ...

Cambodia is set to expand its payment options for tourists by implementing blockchain-based central bank digital currency (CBDC) partnerships. This move is part of the country’s strategy to modernize its tourism sector, recognizing the significant role it plays in the Cambodian economy. ... ...

In one year since its official rollout in 2022 by the National Bank of Cambodia, KHQR, the universal quick response (QR) platform of the country for digital payments, has recorded nearly 400,000 transactions. ... ...

National Bank of Cambodia (NBC) is preparing to sign agreements with the State Bank of Vietnam and the Bank of the Lao People’s Democratic Republic to promote the use Cambodia’s local currency, riel, in their economic activities. ... ...

Cambodia has seen a significant rise in mobile payments as more people transition from cash-based to digital transaction options, according to a recent report by the National Bank of Cambodia (NBC). ... ...

Cambodia’s digital payments sector, powered by key industry players, is expected to make greater headway this year and the total payments may touch $4.73 billion, according to some estimates. ... ...

National Bank of Cambodia (NBC) on Thursday created a new milestone for the country by inking deals with the central banks of the Republic of Fiji and the Solomon Islands to exchange knowledge and experience on financial innovation and inclusion as well as to share ...

Digitising payments could bring substantial cost savings for micro-, small-, and medium-sized enterprises (MSME), not only by simplifying cash management processes but also reducing potential opportunities for misappropriation or corruption, according to the central bank chief. ... ...

The sharp rise in digital payments is a driving force for the development of e-commerce in Cambodia, Jack Lee, chief executive officer and founder of online market Smile Shop in Cambodia, said on Monday. ... ...

In its Consumer Payment Attitudes 2021 study, Visa highlights a rapidly changing payment landscape in Cambodia, with cash losing ground to digital alternatives, said Visa in a news release issued on June 29. ... ...

About 70 percent of Cambodians have access to financial services, with more than 8.6 million e-wallet account holders at the end 2021, according to the National Bank of Cambodia (NBC). ... ...

Oriental Bank, a new bank in Cambodia with a digital-first strategy, has announced that it has chosen global payment provider BPC to power its digital banking experiences. ... ...

Financial institutions (FI) logged a sudden spike in digital transactions during lockdown, adding further to the upward momentum fuelled by rising fears triggered by a spike in new Covid-19 cases found in connection to the February 20 community transmission. ... ...

Cambodia continues to face a multitude of challenges as digital payments and solutions graduate from a niche business to a key segment in the Kingdom’s development strategy, according to National Bank of Cambodia (NBC) assistant governor Chea Serey on March 17. ... ...

According to a new think-piece released by Visa, small businesses have demonstrated their resilience by adapting quickly to the impact of COVID-19. ... ...

The COVID pandemic is intensifying the Kingdom’s push towards becoming a cashless society as consumers increasingly opt to conduct digital payments instead of physical transactions. ... ...

Cambodia has seen recent and rapid growth in digital and electronic payment services, where the platform is regarded as a key to promote the Kingdom’s financial inclusion. ... ...

Visa Inc. is one of several international digital payment firms who have said they are committed to supporting the government and the National Bank of Cambodia (NBC) in their de-dollarisation mission. ... ...

Global payments giant Visa is the first international financial firm to announce the roll out of a payment solution in Cambodia for quick response codes, or QR codes, those pixelated black and white squares designed to be read by a smartphone camera that have begun ...