Thai and Cambodian tourists are on the brink of a seamless shopping experience in each other’s countries, thanks to the innovative ‘Cross-border QR code’ system. This financial cooperation project, an initiative by Thailand’s and Cambodia’s central banks, allows travelers to make payments via QR codes, eliminating the need to exchange baht or riel. Deputy government spokeswoman Trisulee Trisaranakul revealed on Wednesday that this groundbreaking project has entered its second phase, extending its usage to local businesses in both nations.
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The central objective of this project is to provide a fast, safe, and convenient payment solution that operates on a lower budget than traditional banking systems. With this mechanism in place, tourists can make payments at participating outlets in Thailand and Cambodia using banking applications on their mobile devices. This initiative is set to invigorate mutual tourism, Trisaranakul added.
Thai tourists in Cambodia can utilize mobile apps of Krungthai Bank, Bank of Ayudhya, and Siam Commercial Bank to scan the cross-border QR code at participating Cambodian outlets displaying the KH QR logo. Concurrently, Cambodians in Thailand can use apps of ACLEDA, Sathapana, Hattha, FTB Bank, and Cambodia Post Bank at Thai outlets exhibiting the Thai QR logo. However, transactions are capped at 100,000 baht per time and 500,000 baht per day.
Furthermore, Trisulee mentioned that the Bank of Thailand has analogous cooperation agreements with central banks in Malaysia, Vietnam, Indonesia, and Singapore. These agreements aim to promote the use of local currencies and bolster tourism among ASEAN members.
This news is based on an article published in The Nation.
