The National Bank of Cambodia (NBC) on Monday launched the ‘Bakong Tourists App’ helping foreign tourists in Cambodia to make payments using the country’s universal KHQR code at over 3.3 million retail merchant outlets.
NBC Governor Chea Serey presided over the soft launch of the app at a ceremony in Siem Reap, known across the world for its Angkor Wat site.
The event was attended by approximately 150 people, including representatives from various ministries and institutions such as the Ministry of Tourism, Ministry of Interior, Ministry of Post and Telecommunications and stakeholders from the private sector, said an official statement.
The Bakong Tourists App will contribute to promoting tourism in Cambodia by providing international tourists visiting the country with an electronic means of payment for goods and services efficiently and conveniently.
For this, international tourists simply need to download and install the Bakong Tourists App on their mobile phones upon arrival in Cambodia and then register to create an account using an email.
Tourists can top up their accounts through business partners and make payment transactions by scanning the KHQR code with approximately 3.3 million retail merchants within Cambodia, the statement said.
This will not only give international tourists a new experience with digital cash in Cambodia, but it will also address some of the challenges in the tourism sector.
The Bakong Tourist App is a measure in response to Prime Minister Hun Manet’s directive to address the problem of exchanging even slightly torn or old US banknotes in Cambodia.
Meanwhile, the tourism industry in the country warmly welcomed the new app. Thourn Sinan, Chairman of Pacific Asia Travel Association Cambodia Chapter, told Khmer Times yesterday that the launch of the Bakong Tourist App is a significant step forward in enhancing the experience of international tourists in Cambodia.
“By integrating KHQR for payments, it not only streamlines transactions but also promotes the use of local digital currency. This innovation can make it easier for visitors to explore and enjoy the beautiful offerings of our country while supporting local businesses. Overall, it’s an exciting development for tourism in Cambodia,” Sinan noted.
Tourism is one of the key drivers supporting Cambodia’s economy, along with garments, footwear, travel goods, agriculture, construction, and real estate sectors.
According to the Ministry of Tourism, the Kingdom has seen a significant increase in international tourists, with 3.16 million visitors in the first six months this year, up nearly 23 percent from the same period last year, a promising sign for the future of Cambodia’s tourism sector.
The NBC officially launched the Bakong payment system infrastructure in October 2020 to enable banks and other financial institutions to work together ensuring safety, efficiency and cost-saving.
Developed by NBC in partnership with Japanese tech firm Soramitsu, Bakong allows the transfer and receipt of digital funds using smartphones.
The number of Khmer Riel transactions in the Bakong payment system reached 75.5 million with a total transacted amount of 64.9 trillion riel at the end of the first semester this year.
The transactions in the US dollar reached 99.8 million with a total transacted amount of $38.8 billion.
The Bakong system has proved beneficial for users as it gives them a choice over payments and transactions using mobile phones.
