June 8, 2023
ThaiQR users can now scan 1.5M merchants in Cambodia

As the number of merchants where KHQR can be scanned in Thailand has soared to 7.6 million; in Cambodia the ThaiQR can now be scanned at 1.5 million merchants, a release by National Bank of Cambodia (NBC) said.

The numbers were revealed during the launch of the second phase of the cross-border QR payment system between the two countries in Phnom Penh to promote the national currency settlement and contribute significantly to boosting financial inclusion, according to a reliable source on Tuesday. It also aims to facilitate cross-border trade and increasing the number of tourists.

The source said that the launch of the second phase was attended by NBC Governor Chea Chanto, Deputy Governor Chea Serey and Sethaput Suthiwartnarueput, Governor of Bank of Thailand (BOT).

Speaking to Khmer Times yesterday, a technical official at NBC explained the key differences between the second and first phases of bilateral collaboration on cross-border payment between the two countries, saying that the second one has allowed ThaiQR users to scan at 1.5 million merchants in Cambodia from Tuesday this week.

“Till yesterday, ThaiQR users were not able to make payment through scanning in our country, but KHQR users scanned in Thailand. However, since the launch of the second phase ThaiQR users are able to scan in our country,” the official said.

Serey posted on her official Facebook account on Tuesday that the bilateral meeting between Cambodia’s central bank NBC and BOT—Thailand’s central bank was concluded with sharing lessons learnt in many areas in central banking along with the launch of the second phase of QR payment between the two countries.

Serey said the meeting was aimed at strengthening solidarity, friendship, economic ties and promoting macroeconomic growth, banking and financial technology in both countries.

Last month, Serey gave a demonstration of using the mobile app of Acleda Bank Plc to make cross-border payments to a vendor in Thailand through a video. “Don’t want to carry cash? No problem. Here paying for my boat noodles with a QR code in Thailand from my account with a bank in Cambodia,” she wrote on her Facebook.
https://www.khmertimeskh.com/501304270/ ... -cambodia/

Alex wrote: ↑Sat Jun 10, 2023 8:43 am
The exchange rate markup when using a credit or debit card for purchases is the same as when using an ATM, but there's no ATM fee (typically a flat fee for the operator of the ATM plus another flat fee for the card-issuing bank).

Do you have any reason to believe that the exchange rate markup for a QR code payment is higher than for using a credit or debit card? I don't.

Currently at Supperrich I get about 35 THB for a USD, or 37 for a EUR.

When using my ATM card or creditcard it's hard to squeeze even 36 THB out of one EUR, or 33,5 THB out of one USD. When using CC or ATM card the machine will always ask if want to use the exchange rate of the Thai Bank, or of my local bank bank home. I always choose the latter, they offer a better rate, but it's still about 5% below the price Supperrich offers me. When I choose the Thai bank's exchange rate it's closer to 7% what they take using their exchange rate.
Then there's the fee for ATM withdrawals, 150-180 THB in Thailand, EUR 7,50 back home. The max I can withdraw in Thailand at one time is 20k THB, so using the ATM card (once a day allowed only....) is not just a pain but also an expensive pain. I quit using it and now my default trip into Bangkok involves a train ride to Makkasan, get onto the canal boat to 'central (Pratunam)' and hop into Supperrich before heading for wherever I need to go. Since I usually change larger sums it's definitely worth the extra effort. Getting for instance 70.000 THB out of your ATM card or Creditcard is a pain, both logistically and financially with all the caps and restrictions these days.

For small payments, QR codes are great, when the payment is done within one system with a single currency. Processing is so easy a fee of just 1c will cover it,

International payments are a different story. Nobody will process them for just 1c, the risk of losing money when the exchange rate changes is simply too large, so I don't believe a word international QR payments can be done for free or at a really low rate. The 1,70$ soup ending up costing 3$ with fees sounds reasonable to me.

So for me too, outside of Cambodia cash is king.

Cambodia, Laos begin cross-border QR code payments
Cambodia and Laos launched the first phase of cross-border QR code payments between them on August 18.
VNA Saturday, August 19, 2023 17:11 https://link.gov.vn/hIb5ayDo

Hanoi (VNA) - Cambodia and Laos launched the first phase of cross-border QR code payments between them on August 18.

This move allows Cambodian travellers to shop in Laos using their local currency Riel via scanning LAO QR Code, the National Bank of Cambodia said in a statement.

Chea Serey, governor of the central bank, and Bounleua Sinxayvoravong, governor of the Bank of the Lao P.D.R., jointly presided over the launching event held in Vientiane, according to the statement.

In the second phase of the project, Lao people who have bank accounts in their local currency Kip will be able to pay for goods or services through mobile banking application by scanning KHQR code with merchants or shops in Cambodia.

Besides Laos, Cambodia has also had cross-border QR code payment cooperation with its neighboring country Thailand./.

August 23, 2023
Acleda Bank to expand KHQR beyond ASEAN
Kang Sothear / Khmer Times
Acleda Bank Plc plans to expand the KHQR system to non-Association of Southeast Asian Nations (ASEAN) member countries, said a senior bank official.

The official said that the plan will actually be implemented after the cross-border payment connectivity is made between Cambodia and Thailand, Vietnam and Laos. The cross-payments between Cambodia and these countries have been made without charging fees, except for the Cambodia-Laos transactions.

Mar Amara, Senior Executive Vice President & Group Chief Financial Officer of Acleda Bank, told Khmer Times last Sunday that the sponsoring bank Acleda Bank plans to develop cross-border payment transactions using the KHQR code between Cambodia and India, Japan and South Korea.

“After these three corridors, we plan to connect with [these countries],” said Amara, adding that only Acleda App can be used to scan in Laos and Vietnam with KHQR, while Bakong App, Acleda App and CPB App can currently be used to scan in Thailand. “In the near future, all Bakong members’ apps would be able to scan in Thailand too,” Amara said.

However, he said that indirect connection can also be done by joining Acleda Bank if any other members of the Bakong system want cross-border payments to be made through their mobile banking service apps free of charge for Cambodia-Thailand and Cambodia-Vietnam payment transactions, but a charge of about 100 riel or 500 LAK—national currency of Laos—per transaction for Cambodia-Laos transactions.
https://www.khmertimeskh.com/501347404/ ... ond-asean/