NBC and AliPay collaborate to enable enhanced cross-border payments

The National Bank of Cambodia (NBC) and Ant Group, the parent company of AliPay+, the borderless payment and marketing solutions provider for merchants, have inked a memorandum of understanding (MOU) on “Cross-Border QR Code Payment Cooperation.” The deal was announced at last week’s Singapore FinTech Festival. The collaboration aims to boost the use of KHQR codes through Alipay+. KHQR codes provide for a standardization of QR codes which have been created for retail transfers and payments within Cambodia. The agreement focuses on bridging Bakong’s network through KHQR codes and Alipay+’s extensive global QR code acceptance network, as outlined in an NBC press release.

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