‘E-payments will be in riel, not yuan in Cambodia’

A senior official of National Bank of Cambodia (NBC) yesterday made a clarification that Chinese people who visit the country will be able to make electronic payments in riel, “not yuan”, by scanning the KHQR code with the QR codes of UnionPay, WeChat and AliPay – which is most likely to come into effect by next year.

Amid misreporting on the MoUs signed last week, the official during a press meet at SOSORO—Cambodia’s Museum of Economy and Finance—in Daun Penh district of Phnom Penh, attended by over 50 participants including central banking officials and journalists, the official broke down the core objectives of MoU in simpler terms.

Citing an example, Deputy Governor of NBC Chea Serey said, “For instance Mr Ming, who is in Cambodia and enjoyed soup noodles that cost 10,000 riel, he can use the QR code of UnionPay in his mobile phone to scan KHQR code to pay 10,000 riel”, adding, “the noodle shop will not receive yuan, but riel into its bank account.”

read more https://www.khmertimeskh.com/501325074/e-payments-will-be-in-riel-not-yuan-in-cambodia/