Simply scan to pay: QR code makes cross-border shopping a breeze
Thai tourists visiting Cambodia and vice versa can now use a QR code system to make payments in local shops without having to exchange baht or riel, thanks to a new cooperative agreement between Thailand’s and Cambodia’s central banks.
The Bank of Thailand’s financial cooperation project “Cross-border QR code” with its Cambodian counterpart is now in its second phase, which has expanded usage to local businesses in both countries, deputy government spokeswoman Trisulee Trisaranakul said on Wednesday.
The project aims to develop a fast, convenient and secure payment system that requires a lower budget than traditional banking. As a result, the cross-border QR code can be used via banking applications on mobile devices to make payments at participating shops in Thailand and Cambodia, which will help promote mutual tourism, she added.
Thais visiting Cambodia can use mobile applications of Krungthai Bank, Bank of Ayudhya, and Siam Commercial Bank to scan the cross-border QR code at participating Cambodian shops with the KH QR logo to make payments.
Meanwhile, Cambodians visiting Thailand can do so on applications of ACLEDA, Sathapana, Hattha, FTB Bank, and Cambodia Post Bank at Thai shops displaying the Thai QR logo.
Transactions are limited to 100,000 baht per time and 500,000 baht per day.
Trisulee added that the Bank of Thailand also has similar cooperation agreements with the central banks of Malaysia, Vietnam, Indonesia and Singapore, in a bid to promote the use of local currencies as well as tourism among Asean members.
For more information visit: https://bit.ly/BOT-Cross-Border-Payment
