NBC, TenPay Global Sign MOU to Link Bakong and Weixin Pay

SINGAPORE (Nov. 13, 2025) — The National Bank of Cambodia and TenPay Global signed a memorandum of understanding on Nov.12 to promote cross-border digital payment interoperability between Cambodia and China.

The agreement, signed during the Singapore FinTech Festival, outlines cooperation between Cambodia’s Bakong system and China’s Weixin Pay. NBC Governor Chea Serey and Tencent Financial Technology Vice President Daniel Hong presided over the ceremony.

Bakong, launched by the NBC in 2020, is Cambodia’s next-generation mobile payment and banking platform. It integrates e-wallets, online banking and KHQR code payments across participating banks, enabling real-time fund transfers and promoting financial inclusion.

“The collaboration between NBC and TenPay Global marks a major step in strengthening payment connectivity and driving financial innovation,” Chea said. “It supports digital transformation, promotes local currency use and enhances convenience for consumers, merchants and travelers.”

Hong said the partnership advances global wallet interoperability, allowing users to make secure payments abroad with the same confidence they have at home.

The MOU aims to streamline outbound and inbound remittances, improve payment efficiency and unlock new opportunities for economic exchange between the two countries.

Cambodia-China bilateral trade reached $15 billion in the first 10 months of 2025, marking a 28.9% year-on-year increase despite global economic headwinds. China remained Cambodia’s largest trading partner, driven by strong performance in garments, electronics, agricultural products, and machinery. The surge reflects deepening economic ties and expanding cooperation under regional frameworks such as the Regional Comprehensive Economic Partnership (RCEP).