KUALA LUMPUR: The central banks of Malaysia and Cambodia on Thursday launched a cross-border QR payment linkage between the two countries, allowing consumers and merchants to make and receive instant retail payments through mobile applications.
"The QR payment linkage initiative will enable over 5 million merchants in Cambodia and Malaysia, mostly small businesses, to access a wider customer base from both countries," Bank Negara Malaysia and the National Bank of Cambodia said in a joint statement.
Vietnam, Indonesia, Malaysia, Thailand, the Philippines and Singapore have already been working to connect each of their payment systems, including using the QR (quick response) code system for retail transactions.