KUALA LUMPUR, Sept. 19 (Xinhua) -- The launch of the cross-border QR payment linkage between Malaysia and Cambodia is a milestone for greater regional financial integration and inclusive economic development, said Malaysia's central bank, Bank Negara Malaysia (BNM) on Thursday.
The BNM said in a statement that under this linkage, consumers and merchants in both countries will be able to make and receive instant cross-border QR payments.
The linkage initiative will enable over 5 million merchants in Cambodia and Malaysia, mostly small businesses, to access a wider customer base from both countries. More broadly, this will drive trade, boost tourism and promote economic growth in both nations, it added.
"This collaboration brings us closer to realizing the vision of an interconnected and seamless retail payment ecosystem between Cambodia and Malaysia," BNM governor Abdul Rasheed Ghaffour said.
"We remain committed to driving greater economic and financial integration within ASEAN, in close collaboration with regional partners by advancing safe and secure digital financial services," he added. ■
