UPDATE: Cross-border payments between China and Cambodia have just seen a remarkable surge, with transactions through UnionPay-powered wallets nearly tripling in value from January to July 2025 compared to last year. This significant growth reflects the strengthening bilateral payment cooperation between the two nations, as confirmed by recent reports from UnionPay International.
Recent developments underscore the vitality of QR payment connectivity, a collaboration initiated by the People’s Bank of China and the National Bank of Cambodia. The rapid increase in transaction values is linked to the signing of a Memorandum of Understanding on Cooperation in November 2023, which set the stage for enhanced QR payment linkage between the countries.
As of March 2025, users of the Bakong App, Cambodia’s national payment system, can make QR payments at merchants within UnionPay’s global QR network and WeChat Pay’s network in mainland China. This marks a historic achievement as it establishes two-way QR linkage for the first time with a Southeast Asian partner.
In a striking boost to tourism, approximately 587,000 visits from China to Cambodia were recorded in the first half of 2025, representing a 51% year-on-year increase. Such numbers highlight the growing people-to-people exchanges, fueled by the launch of the “China-Cambodia Tourism Year 2025.”
The expansion of UnionPay’s services is evident, with nearly all merchant POS terminals and 80% of ATMs in Cambodia now accepting UnionPay card payments and cash withdrawals. The introduction of QR payment systems allows Chinese tourists to utilize familiar scan-to-pay methods abroad, enhancing their travel experience.
UnionPay’s QR payment initiatives are increasingly embedded within the retail ecosystems of both China and Cambodia. The KHQR standard, developed by the National Bank of Cambodia, has been widely adopted, making UnionPay QR payments popular in key locations such as Phnom Penh International Airport and Angkor Wat.
Moreover, Cambodian nationals visiting China are leveraging the Bakong App for seamless purchases at UnionPay merchants across the mainland, including popular department stores and dining venues. This cross-border payment integration reflects UnionPay’s broader strategy to introduce QR payment linkages with local switches in 19 countries and regions, ensuring that tens of millions of international merchants will soon accept UnionPay QR payments.
Looking ahead, UnionPay plans to further strengthen its partnerships with local entities to enhance interoperability projects that benefit consumers on both sides. The momentum in cross-border payment enhancements signals a transformative change in how residents of China and Cambodia transact, paving the way for more fluid economic exchanges.
Stay tuned for further updates on this developing story as UnionPay continues to shape the future of cross-border payments in the region.
