What's Happening?
ACLEDA Bank Plc. has launched the second phase of its cross-border payment system using QR codes between Cambodia and Laos. This initiative allows Lao citizens to make payments in Cambodia by scanning KHQR codes, facilitating easier transactions for tourists
and businesses. The project, supported by the National Bank of Cambodia and the Bank of the Lao PDR, aims to strengthen economic ties and promote digital payments in line with ASEAN's vision for integrated financial systems.
Why It's Important?
The expansion of cross-border QR payments is a significant step towards enhancing economic integration within the ASEAN region. By simplifying transactions and reducing costs, this system supports tourism and trade between Cambodia and Laos. It also strengthens the local currencies and promotes financial inclusion, aligning with broader regional economic goals. The initiative reflects a growing trend towards digital financial solutions in Southeast Asia.
