Cambodia, Philippines Deepen Central Bank Ties
The National Bank of Cambodia and Bangko Sentral ng Pilipinas are working to link their national payment and QR code systems.
Updated on Nov. 2, 2026 in Financial Services
Live Poll
Should your country link its payment system with other countries' payment systems?
National Bank of Cambodia Governor Chea Serey met with a delegation led by Bangko Sentral ng Pilipinas Governor Eli M. Remolona Jr. in Phnom Penh on Friday. The meeting was the latest in the central banks' annual bilateral talks, covering economic and financial sector development.
Why it matters
The two nations are working toward linking their national payment and QR code systems to make cross-border transactions, trade, and tourism easier. The NBC remains in talks with the Philippines to establish a bilateral cross-border QR-code payment system.
Cambodia's Bakong system is already connected with Thailand, Vietnam, Laos, Malaysia and Singapore, while Philippine and Indonesian linkages remain under development. The bilateral QR-code payment system with the Philippines has not yet been finalized.
The players
Chea Serey
Chea Serey is the Governor of the National Bank of Cambodia, leading the country's central bank and its digital payment initiatives.
Eli M. Remolona Jr.
Eli M. Remolona Jr. is the Governor of the Bangko Sentral ng Pilipinas, the central bank of the Philippines.
Bernadette Romulo-Puyat
Bernadette Romulo-Puyat is the Deputy Governor of the Bangko Sentral ng Pilipinas who participated in the bilateral session.
The details
Serey and Remolona discussed economic and financial sector development, with BSP Deputy Governor Bernadette Romulo-Puyat joining a Q&A session. The officials exchanged views on macroeconomics, banking sector development, financial literacy and customer protection.
Timeline
August 19, 2024: The NBC and BSP signed a memorandum of understanding in Siem Reap.
August 18, 2025: The second annual NBC-BSP meeting was held in Bohol, Philippines.
Friday, October 30, 2026: The latest bilateral meeting took place in Phnom Penh.
Market Landscape
Bakong is already linked with Thailand, Vietnam, Laos, Malaysia and Singapore, making the Philippines link a further extension of Cambodia's regional payment network. The move positions the two central banks within a broader push among Southeast Asian nations to connect their domestic digital payment rails.
Once the Cambodia-Philippines QR link is live, travelers and businesses could make cross-border payments more easily. The timeline for that link has not been announced.
The takeaway
Central bank cooperation on payment rails is quietly reshaping how money moves across Southeast Asia. Keep an eye on the Bakong network, as its growing list of connections signals where cross-border digital payments may head next.
Further reading
Explore more on Financial Services developments across the region.
Live Poll
Should your country link its payment system with other countries' payment systems?
