National Bank of Cambodia and TenPay Global Sign MOU to Connect Bakong and Weixin Pay

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National Bank of Cambodia and TenPay Global Sign MOU to Connect Bakong and Weixin Pay
National Bank of Cambodia and TenPay Global Sign MOU to Connect Bakong and Weixin Pay./Image supplied.

SINGAPORE — The National Bank of Cambodia (NBC) and TenPay Global signed a Memorandum of Understanding (MOU) on "Cooperation in the Areas of Potential Financial Development" during the Sinapore FinTech Festival 2025 on November 12. The ceremony was presided over by H.E. Dr. Chea Serey, Governor of the NBC, alongside Daniel Hong, Vice President of Tencent Financial Technology (Tencent), the parent company of TenPay Global.

According to a press release issued by the NBC, this MOU aims to establish a cooperation framework between the NBC and TenPay Global to jointly promote interoperability between Cambodia's Bakong system (KHOR) and China's Weixin Pay mobile payment network. The goal is to enhance and accelerate digital payments between Cambodia and China, making them more extensive and efficient. Through this collaboration, both parties will work together to develop the potential of the financial sector, as well as promote the integration of cross-border payments and remittances (both outbound and inbound transfers) between the two countries.

H.E. Dr. Chea Serey at the MOU signing between NBC and TenPay Global./Image supplied.

“The collaboration between the NBC and TenPay Global represents a major step forward in strengthening cross-border payment connectivity and driving financial innovation,” said H.E. Dr. Chea Serey. “It contributes to greater financial inclusion, improves payment efficiency, promotes the use of local currencies, and supports ongoing digital transformation while fostering economic exchange between Cambodia and China.”

She added:

By leveraging advanced digital payment technologies, we can deliver tangible benefits to consumers, merchants, and travellers, making financial transactions more convenient, secure, and efficient.

“The path to global wallet interoperability lies at the intersection of technological advancement and sustained collaborations,” Daniel Hong also remarked. "By working together with global partners, we are enabling users to use their home wallets anywhere in the world conveniently, securely, and with the same confidence they have at home. In doing so, we are shaping a trusted and connected payment ecosystem that delivers value to consumers and unlocks new opportunities for global commerce."

This press release was supplied.

H.E. Dr. Chea Serey with TenPay Global representatives./Image supplied.