The National Bank of Cambodia released the Bakong Tourists app to make it easier for foreign tourists to pay for things in Cambodia. This brand-new app works with the current Bakong blockchain-based payment system and makes it possible to use it in nearby countries like Thailand, Vietnam, and Laos.
With the Bakong Tourists app, users can pay at over 3.3 million places using QR codes, which makes it easier to do business all over Cambodia. Point-of-sale systems and ATMs aren’t very common in the country, so this digital option offers a modern alternative to cash transactions and old-fashioned ways of paying.
Money transfers, account entries, transaction tracking, and currency conversion between US dollars and Cambodian riels are some of the other financial tasks that the app can do. Users can spend up to $500 per day at first, but after going through a Know Your Customer (KYC) process, they can raise this cap to $3,000.
People with both iOS and Android devices can get the app. Once users have signed up via email, they can add money through partner banks, hotels, or ticket agencies. It will be even easier to use foreign cards because the National Bank of Cambodia is working on agreements to make this possible.
For example, Governor Chea Serey said that the Bakong Tourists app not only makes spending easier, but it also teaches people about Cambodia’s history and culture. Supporting the tourism industry, which is a big part of Cambodia’s income, and pushing digital payments in the area are both made easier by the app.
