The Bank of Thailand, together with other ASEAN central banks, announced that the National Bank of Cambodia (NBC) has formally joined the Regional Payment Connectivity (RPC) initiative, following Cambodia’s expression of interest. NBC’s participation was recorded through the fourth supplemental pages to the Memorandum of Understanding on Cooperation in Regional Payment Connectivity, announced alongside the launch of the second phase of the Malaysia–Cambodia cross-border QR payment linkage at the sidelines of the 12th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting in Kuala Lumpur. NBC’s accession brings RPC to nine signatories. The initiative was established in 2022 by the central banks of Indonesia, Malaysia, the Philippines, Singapore and Thailand, and later expanded to include Vietnam (August 2023), Brunei Darussalam (February 2024) and Lao PDR (April 2024). RPC aims to promote faster, cheaper, more transparent and more inclusive cross-border payments, including via QR-based payments and fast payment modalities, supporting regional activity such as SME market access, trade facilitation and remittance flows.
Bank of Thailand 2025-04-08
Bank of Thailand and ASEAN peers add National Bank of Cambodia as ninth signatory to the Regional Payment Connectivity initiative
The Bank of Thailand announced that the National Bank of Cambodia has joined the Regional Payment Connectivity initiative, bringing the total to nine signatories. This expansion was formalized through the fourth supplemental pages to the Memorandum of Understanding on Cooperation in Regional Payment Connectivity. Established in 2022, the initiative aims to enhance cross-border payments in ASEAN through faster, cheaper, and more inclusive methods, including QR-based payments.