Cambodia, Thailand, Laos, Extend Cross-border QR Code Payments
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Cambodia, Thailand, Laos, Extend Cross-border QR Code Payments
Cambodia and Thailand Extend Cross-border QR Code Payments
07/06/2023
Chea Chanto, governor of the National Bank of Cambodia (NBC) and Sethaput Suthiwartnarueput, visiting governor of the Bank of Thailand, presided over the launch event in Phnom Penh.
Serey Chea Deputy Governor at the National Bank of Cambodia said on her personal LinkedIn “In 2020 we launched Cambodia selected banks’ QR scanning QR from elected banks in Thailand. Today we launched phase 2 of our collaboration with ThaiQR scanning 1.5 million KHQR merchants in Cambodia and KHQR can scan 7.6 million merchants in Thailand, making QR payments between the two countries a lot easier emphasizing the use of local currencies for transactions.”
According to a statement from NBC, the cross-border QR code payments aim to promote the usage of local currencies and financial inclusion, facilitate cross-border trade activities, and boost tourism in both countries.
They say that since 2020, Cambodians have been able to pay for goods or services through mobile banking applications by scanning QR codes at retail merchants in Thailand. The second phase will allow Thais* to do the same in Cambodia as of June 6, 2023.
*The users of the QR code payment system will be required to have a bank account in their local currency.
https://www.b2b-cambodia.com/news/cambo ... -payments/
07/06/2023
Chea Chanto, governor of the National Bank of Cambodia (NBC) and Sethaput Suthiwartnarueput, visiting governor of the Bank of Thailand, presided over the launch event in Phnom Penh.
Serey Chea Deputy Governor at the National Bank of Cambodia said on her personal LinkedIn “In 2020 we launched Cambodia selected banks’ QR scanning QR from elected banks in Thailand. Today we launched phase 2 of our collaboration with ThaiQR scanning 1.5 million KHQR merchants in Cambodia and KHQR can scan 7.6 million merchants in Thailand, making QR payments between the two countries a lot easier emphasizing the use of local currencies for transactions.”
According to a statement from NBC, the cross-border QR code payments aim to promote the usage of local currencies and financial inclusion, facilitate cross-border trade activities, and boost tourism in both countries.
They say that since 2020, Cambodians have been able to pay for goods or services through mobile banking applications by scanning QR codes at retail merchants in Thailand. The second phase will allow Thais* to do the same in Cambodia as of June 6, 2023.
*The users of the QR code payment system will be required to have a bank account in their local currency.
https://www.b2b-cambodia.com/news/cambo ... -payments/
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Re: Cambodia and Thailand Extend Cross-border QR Code Payments
That's very interesting. I didn't know about this part:
"They say that since 2020, Cambodians have been able to pay for goods or services through mobile banking applications by scanning QR codes at retail merchants in Thailand."
Has anyone ever tried that? I guess I could just scan a Thai PromptPay QR code with my ABA Bank app and see what happens.
I use QR code payments in both Cambodia and Thailand all the time, but I've only tried it with local mobile banking apps so far.
"They say that since 2020, Cambodians have been able to pay for goods or services through mobile banking applications by scanning QR codes at retail merchants in Thailand."
Has anyone ever tried that? I guess I could just scan a Thai PromptPay QR code with my ABA Bank app and see what happens.
I use QR code payments in both Cambodia and Thailand all the time, but I've only tried it with local mobile banking apps so far.
- phuketrichard
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Re: Cambodia and Thailand Extend Cross-border QR Code Payments
bet you get really shit exchange rates<
so my advice dont do it
alex try it and report back the rate
right now its
$1= 34.6 thai baht
$1= 4,108 Riel
100 thai baht= 11,872 Riel
so my advice dont do it
alex try it and report back the rate
right now its
$1= 34.6 thai baht
$1= 4,108 Riel
100 thai baht= 11,872 Riel
In a nation run by swine, all pigs are upward-mobile and the rest of us are fucked until we can put our acts together: not necessarily to win, but mainly to keep from losing completely. HST
Re: Cambodia and Thailand Extend Cross-border QR Code Payments
Yeah I'll try it and I'm interested in the exchange rate as well. I'd expect it to be similar to the exchange rate you get when using a Thai credit or debit card in Cambodia (or vice versa). In that case, using a foreign app for QR code payments could make sense, as it's cheaper than using an ATM and safer than using a credit/debit card.phuketrichard wrote: ↑Fri Jun 09, 2023 12:29 pm bet you get really shit exchange rates<
so my advice dont do it
alex try it and report back the rate
right now its
$1= 34.6 thai baht
$1= 4,108 Riel
100 thai baht= 11,872 Riel
Re: Cambodia and Thailand Extend Cross-border QR Code Payments
This is only for banks who support this feature. As for my knowledge ABA is not one of them. Acelda was one of the first who implemented it.Alex wrote: ↑Fri Jun 09, 2023 11:23 am That's very interesting. I didn't know about this part:
"They say that since 2020, Cambodians have been able to pay for goods or services through mobile banking applications by scanning QR codes at retail merchants in Thailand."
Has anyone ever tried that? I guess I could just scan a Thai PromptPay QR code with my ABA Bank app and see what happens.
I use QR code payments in both Cambodia and Thailand all the time, but I've only tried it with local mobile banking apps so far.
https://www.acledabank.com.kh/kh/eng/info-20220929
Stage 2 that they mentioned is to integrate Thai QR payment into Bakong payment. In this case all banks who are connected to Bakong in Cambodia will be able to pay in Thailand.
From my understanding stage 2 is not completed yet.
- phuketrichard
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Re: Cambodia and Thailand Extend Cross-border QR Code Payments
yea,Alex wrote: ↑Fri Jun 09, 2023 12:58 pmYeah I'll try it and I'm interested in the exchange rate as well. I'd expect it to be similar to the exchange rate you get when using a Thai credit or debit card in Cambodia (or vice versa). In that case, using a foreign app for QR code payments could make sense, as it's cheaper than using an ATM and safer than using a credit/debit card.phuketrichard wrote: ↑Fri Jun 09, 2023 12:29 pm bet you get really shit exchange rates<
so my advice dont do it
alex try it and report back the rate
right now its
$1= 34.6 thai baht
$1= 4,108 Riel
100 thai baht= 11,872 Riel
Thailand charges 220 baht for atm withdraws, Cambodia $5-8/
BUT i found i get shit rates when i used my citbank atm ,
Now i just use wise to send $$ to my SCB account and get great rates as well
last week $1,000 sent from US ( took 6 seconds to hit my bank) and it was only $7.8 charge and got 34.78 rate
I've never used a card with qr code /app in my life LOL
In a nation run by swine, all pigs are upward-mobile and the rest of us are fucked until we can put our acts together: not necessarily to win, but mainly to keep from losing completely. HST
Re: Cambodia and Thailand Extend Cross-border QR Code Payments
I agree with you richard, never used qr-codes either and i prefere WISE also, but at the end useally cash is king, was last week in Morocco and found exchange offices with rates only 2% difference between buy and sell (useally i check that first), it means they only make about 1% on every change-transaction, about same as the guys on 136 near Phsar Thmey. When i drove of the ferry in Morocco i first looked for an ATM to get some cash for the first day, exchange rate was 2.5% down, and 2.5% ATM-costs, total 5% lost. Hallelujaaahh the good old 500-euro notes to change . . .
The big banks want to make money to pay for all the fancy buildings and the Lexusses parked outside ofcourse, of not speaking from soccer-teams they sponsor, isn it ??
And those QR-codes wont change their bussiness-plan i suppose !!
The big banks want to make money to pay for all the fancy buildings and the Lexusses parked outside ofcourse, of not speaking from soccer-teams they sponsor, isn it ??
And those QR-codes wont change their bussiness-plan i suppose !!
Re: Cambodia and Thailand Extend Cross-border QR Code Payments
can you use wise to send thb to usd account in cambodian aba account?
Re: Cambodia and Thailand Extend Cross-border QR Code Payments
Not if your THB is in a Thai bank. You cannot use Wise to send money FROM Thailand.
If you have a THB balance in Wise, on the other hand, you can convert it to USD and send it to ABA. Probably not what you're looking for.
Re: Cambodia and Thailand Extend Cross-border QR Code Payments
That's not how it works, there's no card involved in those QR code payments. You use an app on your mobile phone and scan a QR code at the shop to pay.phuketrichard wrote: ↑Fri Jun 09, 2023 2:16 pm I've never used a card with qr code /app in my life LOL
I find that very convenient in both Cambodia (KHQR and ABA Pay) and Thailand (PromptPay). If you use a Cambodian app in Cambodia (e.g. ABA Bank or Wing Bank) or a Thai app in Thailand (e.g. Bangkok Bank or Kasikorn Bank), there's no fee and (obviously) no exchange rate add-on, you just pay the exact same amount you'd pay cash.
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