The National Bank of Cambodia (NBC) has officially become the 9th member of the Regional Payment Connectivity (RPC) initiative. This membership will help Cambodia further integrate its financial systems within the Southeast Asian region.

According to the NBC, the RPC Initiative aims to promote, faster, cheaper, more transparent and more inclusive cross-border payments.

The NBC explained that its inclusion follows its formal expression of interest.

The national bank formally announced its participation in a memorandum of understanding on Cooperation in Regional Payment Connectivity (MOU RPC) during the launch of the second phase of the Malaysia-Cambodia cross-border QR payment linkage on 8 April 2025, on the sidelines of the 12th ASEAN Finance Ministers and Central Bank Governors Meeting, in Kuala Lumpur, Malaysia.

“The growing number of members in the RPC demonstrates its potential to expand cooperation to other ASEAN countries and regions, in order to strengthen cross-border payment connectivity and promote financial integration in the region,” explained the release.

“Participating in the initiative will foster regional economic growth and establish more interconnected payment systems within ASEAN,” noted Chea Serey, NBC governor.

The RPC was first launched in 2022 by the central banks of Indonesia, Malaysia, the Philippines, Singapore and Thailand. It later welcomed Vietnam in August 2023, Brunei in February 2024 and Laos in April 2024.

Since its inception, it has fostered and accelerated the development of cross-border payment connectivity in the region through, among others, quick response (QR) code-based payment and fast payment modalities. By promoting seamless cross-border transactions in the region, the RPC initiative supports broader economic activities in ASEAN.