Synopsis: The total value of these transactions touched KHR 128.6 trillion (or $32 billion), marking a 62.2 percent increase year-over-year.
The National Bank of Cambodia reported a significant surge in transactions in the Bakong digital payment system in both Khmer Riel (KHR) and US dollar transactions.
A mid-year report 2025 of the National Bank of Cambodia (NBC) released on Monday, showed that Bakong recorded 303 million transactions in Khmer Riel between January to June this year, an increase of twofold compared to that in the same period last year.
The total value of these transactions reached KHR 128.6 trillion (approximately $32 billion), marking a 62.2 percent increase year-over-year.
The system also saw a major surge in US dollar transactions. The number of transactions grew by 88 percent to 240 million, with a total value of $68.9 billion. This represents a 44.9 percent increase compared to the first half of 2024.
National Bank of Cambodia (NBC) Governor Chea Serey stated that digital payments are crucial for enhancing financial inclusion, fostering innovation, and ensuring convenience and safety for users.
“Cambodia has been consistently expanding its payment system connectivity with regional and international partners, which provides more payment options for both Cambodian citizens and foreign visitors,” she said.
The NBC officially launched Bakong, a payment system, in October 2020, saying it enables banks and other financial institutions to work together, with an emphasis on safety, efficiency, cost-saving and, more importantly, financial inclusion.
The Bakong system has provided benefits to the payment system by giving a choice to customers over payments and transactions via mobile phone from one financial institution to another in the country.
Cambodia had steadily expanded payment system connectivity with countries in the region and international payment systems, offering a wider range of payment possibilities for Cambodians and international travellers, she said.
According to the report, Cambodia’s cross-border transaction system is available with regional countries, including Thailand, Laos, Vietnam, South Korea, Malaysia, and China via Alipay Connect Pte. Ltd, and UnionPay International (UPI).
Additionally, the NBC’s Bakong Tourists app, launched in August 2024, aims to simplify digital payments for international tourists and local businesses. The app aligns with government policies aimed at fostering a digital economy and an inclusive society.
