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Cambodia Announces Soft Launch of New Payment System
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The National Bank of Cambodia (NBC) had announced the soft launch of a new interbank payment service in partnership with several local banks and microfinance institutions.
NBC released that the new payment system, dubbed ‘Retail Payment System,’ will promote innovation for the sector, improve interbank transactions and make them more efficient with enhance security.
The new system will contribute to financial industry in the Kingdom and facilitate fund transfers, which NBC felt is important factors for economic development.
The new solution consists of three payment systems: a real-time fund transfer (RFT) system, mobile payment system (MPS), and QR-code payment system (QPS). It is also includes an electronic clearing system (ECS).
Collaborating banks are Prasac Microfinance, Acleda Bank, Cambodia Post Bank, Vattanac Bank, Canadia Bank, Kookmin Bank, and Phnom Penh Commercial Bank.
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