Cambodia, Vietnam Central Banks Deepen QR Payment Integration to Boost Cross-Border Trade

PHNOM PENH,(Aug. 25, 2025)—Cambodia and Vietnam are accelerating efforts to integrate their financial systems through QR code-based cross-border payments, aiming to streamline trade and tourism between the two countries.

The National Bank of Cambodia (NBC) and the State Bank of Vietnam held a bilateral meeting in Phnom Penh on Aug. 25, led by NBC Governor Chea Serey and her Vietnamese counterpart Nguyen Thi Hong. The two central banks agreed to expand cooperation through 2026, focusing on increasing participation from financial institutions, promoting the use of local currencies — the Cambodian riel and Vietnamese dong — and enhancing the role of banks in supporting economic development.

The meeting follows the official launch of QR code interoperability in December 2023, allowing Cambodian and Vietnamese consumers to make payments in each other’s countries using mobile banking apps. Cambodian users with riel-denominated accounts can scan VietQR codes to pay in dong at merchants in Vietnam, while Vietnamese users can scan KHQR codes to pay in riel at Cambodian businesses.

Chea Serey said on her official social media account that the two sides exchanged views on macroeconomic conditions and monetary policy, and discussed ways to improve the efficiency of the QR payment linkage. She also met with representatives from five Vietnamese banks operating in Cambodia to explore their contributions to the local economy.

The QR payment initiative is expected to accelerate digital transactions, increase currency circulation, and reduce reliance on foreign exchange, while offering consumers a faster, safer, and more affordable payment experience. It also supports broader goals of regional financial integration and inclusive growth under ASEAN frameworks.

Vietnamese Ambassador Nguyen Minh Vu also attended the meeting, underscoring the diplomatic and economic significance of the partnership.