Cambodia’s National Bank of Cambodia (NBC) has taken a significant leap towards modernizing the country’s payment infrastructure with the launch of the Bakong Tourists app. This cutting-edge mobile payment system is specifically designed to enhance the travel experience for tourists visiting Cambodia.
The Bakong Tourists app is built on the foundation of Cambodia’s central bank digital currency (CBDC) infrastructure, known as Bakong. This means that transactions within the app utilize the Cambodian riel, the country’s national currency. This initiative is part of a broader effort by the NBC to reduce the reliance on the US dollar within the Cambodian economy, encouraging the use of the local currency.
The app’s widespread reach is a key factor in its success. It has been integrated into a vast network of over 3.3 million locations across Cambodia, including popular tourist destinations in Phnom Penh and Siem Reap. This means that even small street vendors in these areas now accept QR code payments through the Bakong Tourists app.
To ensure the app’s adoption, the NBC has collaborated with various stakeholders, including commercial banks, airport management companies, and tourism operators, to promote the Bakong Tourists app. Tourists can easily download the app on their iOS or Android devices. After a simple email verification process, they can start using the app to make payments. For those requiring higher spending limits, a more comprehensive Know Your Customer (KYC) process, involving verification through hotels or tourism agents, allows daily transactions of up to 12 million riels (approximately $3,000).
The NBC has ambitious plans to further enhance the app’s functionality. In the near future, tourists will be able to top up their Bakong Tourists accounts using mainstream card services. The app is also being developed to facilitate cross-border transactions, enabling tourists to use the funds outside of Cambodia.
While some local guides have expressed initial concerns about the setup process potentially being a hassle for tourists, the NBC remains confident that the app will ultimately benefit both visitors and the local economy. To provide additional support to tourists, the NBC has established a dedicated customer service unit accessible via Telegram and WhatsApp.
Khieu Thy, President of the Khmer Angkor Tourist Guide Association, emphasized the importance of using the local currency, stating that it reinforces Cambodia’s sovereignty and national identity. The Bakong Tourists app is a significant step forward in modernizing Cambodia’s payment infrastructure, making it easier for tourists to engage with the local economy while enjoying a seamless travel experience.
