Cambodia: 2020 digital payment “BAKONG” introduced: Adopted National Bank of Cambodia (NBC)
Phnom Penh
December 26, 2019
Japan: Soramitsu ‘BAKONG’
We are developing a system using blockchain in collaboration with Soramits of Japan.
National Bank of Cambodia (NBC):
November 18 The National Bank of Cambodia (NBC) has announced that “the digital payment system ‘BAKONG’ is expected to be officially introduced in 2020.”
Test operation has been conducted since July.
“Connected to 10 banks and mobile payment systems in Cambodia, thousands of people are using it.”
“The world’s first blockchain payment system by the central bank is Cambodia.”
Blockchain payment system: ‘BAKONG’
”BAKONG” uses a smartphone app.
“Payment system that allows payment to stores and remittance between individuals by phone number or QR code”
The settlement currency can be US dollar or Riel of Cambodia.
The remittance fee is free.
The transaction limit is based on bank and electronic payment system regulations.
Cambodia / Malaysia:
In October, NBC and a major Malaysian bank signed a memorandum of understanding.
” BAKONG ” works with Maybank’s online payment system, Maybank2u.
Many Cambodians work in Malaysia.
If system linkage is realized, real-time remittance can be easily performed.
-JETRO
https://www.jetro.go.jp/biznews/2019/12/33003ac7dc60352f.html