Cambodia and Timor-Leste Sign MOU on Cross-Border Payment Cooperation

PHNOM PENH, Sept 14, 2026 (KPT) — The National Bank of Cambodia and Banco Central de Timor‑Leste have signed a memorandum of understanding on cross‑border payment cooperation, witnessed by President José Ramos‑Horta and Prime Minister Kay Rala Xanana Gusmão during the launch of Timor‑Leste’s national QR payment system, TUQR. NBC Governor Chea Serey said the agreement capped a series of bilateral meetings in Dili and underscored the two countries’ shared experiences in nation‑building and institutional development. She described the MoU as a step toward deeper regional payment connectivity. The deal builds on Cambodia’s own digital payment success. The Bakong system, launched in 2020, has become a cornerstone of the country’s financial infrastructure, processing more than 1 billion transactions worth USD 135.8 billion in the first half of 2026. It now counts 38 million user accounts and is accepted at 4.5 million merchant locations nationwide. Bakong also supports cross‑border QR payments in Thailand, Vietnam, Laos, China and South Korea, and is linked with UnionPay International and Alipay+. The visit concluded with a reception marking the 15th anniversary of Timor‑Leste’s central bank. Serey congratulated BCTL Governor Hélder Lopes on both milestones — the TUQR launch and the anniversary — and said Cambodia looked forward to closer cooperation in digital finance.