How Bakong & KHQR Revolutionized Digital Payments in Cambodia
Introduced by the National Bank of Cambodia (NBC), Bakong is a blockchain-based retail payment system that bridges mobile wallets and commercial banks across the Kingdom. Together with the standardized KHQR code, Cambodians can seamlessly send money, pay in stores, and conduct cross-border transfers.
What is KHQR?
KHQR allows a single QR code printed on a merchant counter to accept payments from virtually every Cambodian banking application, including ABA Mobile, Wing, ACLEDA, Sathapana, and Canadia Bank.
Key Advantages
- Instant settlement with zero merchant friction
- Dual currency support in both USD and Khmer Riel (KHR)
- Interoperability with cross-border systems in Thailand, Vietnam, and Laos
Frequently Asked Questions
Is Bakong free for individual users?
Yes, peer-to-peer transfers and retail QR code merchant payments are free of charge for individual consumers across connected apps.
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