Phnom penh: The National Bank of Cambodia (NBC) and TenPay Global have signed a Memorandum of Understanding (MoU) to establish a cooperation framework focused on interoperability between Cambodia's Bakong system (KHQR) and China's Weixin Pay mobile payment network.
According to Agence Kampuchea Presse, the MoU was signed by H.E. Dr. Chea Serey, Governor of the National Bank of Cambodia, and Mr. Daniel Hong, Vice President of Tencent Financial Technology, during the Singapore FinTech Festival 2025. The agreement aims to enhance and accelerate digital payments between Cambodia and China.
The collaboration seeks to develop the financial sector's potential and promote cross-border payments and remittances between the two countries. NBC Governor H.E. Dr. Chea Serey highlighted the partnership as a significant step towards strengthening cross-border payment connectivity and driving financial innovation. She noted that the initiative would enhance financial inclusion, improve payment efficiency, and promote the use of local currencies, while supporting digital transformation and economic exchange.
Mr. Daniel Hong emphasized the importance of technological advancement and collaboration in achieving global wallet interoperability. He stated that working with global partners allows users to confidently use their home wallets worldwide, thereby shaping a trusted and connected payment ecosystem.