SCB, Cambodian banks join for QR payment service
Thailand's Siam Commercial Bank (SCB) and three Cambodian commercial banks will jointly provide QR payment service between the two countries, said Bank of Thailand Governor Veerathai Santiprabhob and National Bank of Cambodia (NBC) Governor Chea Chanto in a joint announcement today (February 18).
The three Cambodian banks are Acleda Bank, Cambodia Commercial Bank (CCB), and the Foreign Trade Bank of Cambodia (FTB).
The service through ‘Interoperable QR Code’ was in line with international standards for payments between customers and traders in two countries.
The service commenced today (February 18) for Cambodians in Thailand, using the mobile banking application of the three Cambodian banks while it will be available for Thais in Cambodia in the third quarter this year.
“This service can be developed to international money transfer between Asean countries in the future,” said Veerathai .
“This project would promote the use of local currencies internationally,” said the NBC governor, adding “ the economy would grow from lower payment costs and risks associated with using cash".