METI and the National Bank of Cambodia Sign and Exchange Memorandum of Cooperation (MOC) in the Area of Unified QR Code-Based Payments

1. Overview

On December 18, 2023, Mr. Saito Ken, Minister of Economy, Trade and Industry, and H.E. Ms. Chea Serey, Governor of the NBC, signed and exchanged the MOC in the presence of the two prime ministers of Japan and Cambodia.

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  Photo Source：Prime Minister's Official Residence Website

2. Background

METI has been advancing discussions with Asian countries for the realization of interoperability between Japan’s unified standard QR code for payments (JPQR) with those in Asian countries.

JPQR is Japan’s unified standard QR code for payments. It was formulated by the Payments Japan Association and conforms to the international standard (EMVCo). As the council succeeded in unifying multiple QR codes into JPQR, users are able to pay for multiple services just by using a single JPQR code.

Some Asian countries as well have been disseminating their domestic unified standard QR codes for payments. If Japan and these countries make these codes interoperable, users will be able to pay at shops in the countries they visit by using the QR code-based payment services of their own countries. 

3. Details of cooperation under the MOC and expected benefits

Under the MOC, Japan and Cambodia agreed to cooperate to accelerate discussions on the interoperability of the respective unified standard QR codes for payments of their countries and to build a framework to work with stakeholders.

The conclusion of the MOC is expected to accelerate discussions on the interoperability of the unified standard QR codes for payments between the two countries, and the realization thereof will contribute to making QR code-based payments in Japan and abroad more convenient and increasing tourism spending.

• Reference: Outline of JPQR (the Payments Japan Association)

Related Link

• Memorandum of Cooperation in the Area of Unified QR Code -Based Payments Signed with Bank Indonesia

Division in Charge

Cashless Payment Promotion Office, Commerce and Service Industry Policy Group