Cambodia begins rollout of national mobile payments platform

The National Bank of Cambodia has begun the rollout of a national mobile payments platform based on real-time funds transfers, QR mobile payments and a single electronic clearing system.

National Bank of Cambodia logo

“The main purpose of the soft launch of Retail Pay System is to promote innovation in [the] retail payment system, improve the inter-bank transaction, accelerate operational efficiency, and enhance [the] safety of fund transfer through electronic mean[s] of payment which is fast, secure and convenient for customer[s],” the central bank says.

“In addition, the Retail Pay System will significantly contribute to promoting the financial inclusion and facilitating the fund transfer in the market, which is the important factor for economic development.”