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Economy: National Bank of Cambodia officially launches “Bakong Tourist App”

Writer's picture: Eco NewsEco News

The National Bank of Cambodia has announced the launch of the Bakong Tourist App, which is set to streamline payment services and bolster tourism in Cambodia.

The digital payment platform, designed for international tourists, aims to facilitate the purchase of local goods and services, enhancing the visitor experience and driving economic growth.

The Bakong Tourist App is a similar, everyday tool to the Bakong Tourlst App. Upon arrival in Cambodia, facilitate the distribution of cash. Furthermore, international tourists visiting Cambodia can download the Bakong Tourist App and register for a simple, convenient process to top up their Bakong account. Subsequently, Bakong can link up with the international payment card to transfer funds into the account.

"This will streamline the payment process for tourists by enabling them to scan payments at approximately 3.3 million stores marked with the KHQR code," she said.

"I am confident that the initial launch of the Bakong Tourist App will contribute to driving innovation and financial technology in the use of banking and financial services and can provide a digital payment experience," she said.

The NBC reports that the app's promotion and accessibility to tourists have been enhanced through collaborations with banks, tourism operators, airport authorities and the General Department of Immigration (GDI). Once the app has been downloaded from either the iOS or Android app store, users can register by providing the requisite information and verifying their identity via email. This method permits users to spend up to 4 million riel or $1,000 per day.

The bank has also indicated that tourists can complete the KYC (Know Your Customer) identity verification process with the assistance of tourist agents, tour operators or hotels, thus eliminating the need for a personal phone number
The bank has also indicated that tourists can complete the KYC (Know Your Customer) identity verification process with the assistance of tourist agents, tour operators or hotels, thus eliminating the need for a personal phone number

This process allows users to spend up to 12 million riel, or $3,000, per day. Tourist agents or hotels can confirm the guest's identity to the NBC, ensuring it matches the passport details, even in the absence of a personal phone number.

Initial deposits into the system can be made at banks or through the hotel. In the near future, account holders will also be able to top up their funds directly via Visa or other applicable cards.

Once the funds have been deposited, tourists are able to make payments via QR code or KHQR at 3.3 million locations across the country, in the same way that Cambodians do. The system offers a more convenient alternative to credit cards, which are supported by only 52,354 card-swiping machines nationwide and withdrawing cash from the only 5,600 ATMs available across the country.

Furthermore, travellers continuing their journey to neighbouring countries can utilise the funds in Thailand, Laos, Vietnam and several other countries.

In the event of any payment issues, a dedicated NBC team is available to resolve them immediately. Users can contact the team via WhatsApp or Telegram, as indicated in the app, in accordance with NBC guidelines.

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