AKP Phnom Penh, March 07, 2025 —

The National Bank of Cambodia (NBC) reported a significant surge in the use of Bakong system in both KHR (Khmer Riel) and U.S. dollar transactions, showing the growing popularity of this payment system.

Registered Bakong users rose by 7 percent to some 642,500 as of 2024 with a total of 608.32 million transactions.

Khmer Riel transactions jumped by 334 percent to 299.32 million while U.S . dollar transactions increased to 308.2 million, up 133 percent, read the report.

KHR transactions accounted for 49 percent of total transactions.

NBC Governor H.E. Dr. Chea Serey said that digital payment services have significantly contributed to enhancing financial inclusion, promoting innovation, and providing convenience and safety to users.

“The development of payment infrastructure has facilitated trade and economic activities both domestically and regionally, and has contributed to the promotion of financial inclusion,” she said.

The NBC officially launched Bakong, a payment system in October 2020, saying it enables banks and other financial institutions to work together, with an emphasis on safety, efficiency, cost-saving and, more importantly, financial inclusion.

The Bakong system has provided benefits to the payment system by giving a choice to customers over payments and transactions via mobile phone from one financial institution to another, or from one payment service institution to another in the country.

The system is also integrated with partnered banks in the region to allow cross-border money transfers.

Cambodia had steadily expanded payment system connectivity with countries in the region and international payment systems, offering a wider range of payment possibilities for Cambodians and international travellers, she said.

The Bakong Tourism App was launched to contribute to the promotion of the tourism sector by allowing international tourists to make payments for goods and services using QR codes, added the central bank governor.

By Chea Vannak