15th April 2025 - 3 min read
Maybank customers travelling to Cambodia can now make KHQR retail payments using the MAE App, with a low currency conversion fee. This development follows the launch of the second phase of the cross-border QR payment linkage between Malaysia and Cambodia, introduced by Bank Negara Malaysia (BNM) and the National Bank of Cambodia (NBC).
Maybank is involved as the strategic banking partner, as well as the sponsoring and settlement bank. The initiative is part of ongoing efforts to improve digital payment connectivity and promote financial inclusion between the two countries.
Dato’ Khairussaleh Ramli, President and Group CEO of Maybank, said the successful implementation of this initiative is a testament to the guidance provided by BNM and NBC, as well as strong collaboration between industry players including Bakong, Payments Network Malaysia (PayNet) and Maybank.
“We are pleased to support the launch and facilitate seamless cross-border QR payments between Malaysia and Cambodia. Over 9 million MAE App users can now easily and conveniently make cross-border QR payments not just in Cambodia, but anywhere across our key markets including Malaysia, Singapore, Indonesia, Thailand and China. This initiative underscores our commitment to enhancing financial accessibility and mobility across the region, ultimately driving a more connected and dynamic marketplace economy.”
According to Maybank, customers in Malaysia travelling to any of the five countries with QR payment linkage, including Cambodia, can make retail purchases through the MAE App by scanning the merchant’s local QR code and confirming payment. The app will display a summary of the amount in local currency, the conversion fee, and the final charge in ringgit.
Maybank recorded an 83% growth in the total value of transactions made via QR payments in 2024 compared to the previous year, which the Bank attributes to customers’ increasing comfort with digital payments.
“In 2024, we recorded an impressive 83% growth in the total value of transactions made via QR payments compared with the previous year, signalling customers’ growing confidence and readiness to embrace digital payments. As one of the largest providers of retail QR payments in Malaysia, we are committed to continuously enhancing convenience, security and accessibility for our customers. I am convinced that with this latest offering, they will enjoy a seamless and secure payment experience, whether at home or abroad,” added Khairussaleh.
Maybank noted that it also supported the initial phase of the linkage in September 2024, which enabled Cambodian travellers to make DuitNow QR payments in Malaysia via the Bakong App.
As Malaysia takes on the ASEAN Chairmanship this year, Maybank has stated its continued commitment to supporting financial integration and promoting greater access to cross-border payment solutions in the region. More information on the Cross-Border QR Payment feature is available here.
Samuel writes about personal finance and financial news, focusing on how banking updates, policies, and promotions affect everyday money decisions. He enjoys making complicated financial topics easier to follow. Outside of writing, he spends his time watching TV shows and occasionally convincing himself he will only watch one episode.
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