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Illustrative image (Photo: thestar.com.my) |
This move allows Cambodian travelers to shop in Laos using their local currency Riel via scanning the 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 a mobile banking application by scanning the 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.
