Cambodia and Philippines Link QR Payment Systems
Cross-border traders and tourism operators between the two countries should prepare for simpler payments once the systems connect.
Updated on Nov. 2, 2026 in Financial Services
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National Bank of Cambodia Governor Chea Serey met with a delegation led by Bangko Sentral ng Pilipinas Governor Eli M. Remolona Jr. in Phnom Penh to discuss economic and financial sector development. The two central banks are working to link their national payment and QR code systems, a move that matters to businesses involved in cross-border trade and tourism between the two countries.
Why it matters
The two central banks are pursuing payment and QR code connectivity to make cross-border transactions, trade, and tourism easier between Cambodia and the Philippines. The effort builds on an annual bilateral dialogue and a memorandum of understanding signed in 2024 that has already served as the basis for payment connectivity and digital financial innovation.
Cambodia's Bakong system now links to five ASEAN and neighboring economies, with Philippine and Indonesian linkages still under development across 11 countries in total. The second annual NBC-BSP meeting followed an MoU signed a year earlier, on August 19, 2024.
The players
National Bank of Cambodia (NBC)
Cambodia's central bank, which operates the Bakong national payment system that is now connected to several regional economies.
Bangko Sentral ng Pilipinas (BSP)
The Philippines' central bank, which regulates banks and payment systems and is pursuing cross-border QR-code connectivity with Cambodia.
Chea Serey
Governor of the National Bank of Cambodia, who hosted the bilateral meeting and oversees the country's central banking and payment infrastructure.
Eli M. Remolona Jr.
Governor of the Bangko Sentral ng Pilipinas, who led the Philippine delegation to the Phnom Penh meeting.
The details
The meeting covered macroeconomics, the banking sector, financial literacy and customer protection, with a Q&A session led by BSP Deputy Governor Bernadette Romulo-Puyat. The NBC and BSP are negotiating a bilateral cross-border QR-code payment system, which would let a payment made in one country be settled through the other's national payment rails. The MoU has already supported payment connectivity, digital financial innovation, banking supervision and human resource development.
Timeline
August 19, 2024: NBC and BSP signed their memorandum of understanding in Siem Reap.
August 18, 2025: The second annual NBC-BSP meeting was held in Bohol, Philippines.
Friday, November 2026: The latest NBC-BSP meeting took place in Phnom Penh.
Market Landscape
The NBC-BSP effort follows the Bakong system's expansion from domestic use into regional linkages with Thailand, Vietnam, Laos, Malaysia and Singapore. Cambodia's central bank is extending a model of bilateral payment interoperability across Southeast Asia, with the Philippines and Indonesia the next targets.
Businesses in cross-border trade and tourism between Cambodia and the Philippines should track the timing of the bilateral QR-code payment system, since it could change how payments are settled. Operators handling transactions in either currency should review their payment provider and currency conversion costs as the linkage develops.
The takeaway
Operators with exposure to Cambodia-Philippines trade should watch for the bilateral QR-code system's launch date, which would reduce friction in cross-border payments. Review your payment processing partners now to determine whether they can support linked national QR systems when they go live.
Further reading
For broader context on how central banks are building cross-border payment links, explore the Financial Services section.
Source note: This article includes information reported by Khmer Times.
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