Qitero Qitero

Bakong (KHQR)

Country: Cambodia (KH)  |  Payment Rail: real_time_payment

RealTimePayment Market Adoption: 55%

Bakong is Cambodia national blockchain-based real-time payment system and KHQR unified QR infrastructure established by the National Bank of Cambodia, featuring dual-currency (KHR/USD) instant settlements and interoperability across financial institutions for e-commerce, in-store QR retail, and P2P transfers.

🔄 User Payment Flow

  1. Customer selects KHQR / Bakong at checkout or encounters KHQR merchant standee
  2. Customer opens any participating Cambodian banking app or Bakong wallet
  3. Customer scans dynamic KHQR code displaying order amount in KHR or USD
  4. Customer confirms payment with fingerprint / Face ID / PIN
  5. Funds transfer instantly across interbank blockchain ledger with zero merchant chargeback

⚙️ Characteristics & Settlement

Instant PaymentYES
Supports QRYES
Supports RecurringNO
Supports RefundYES

🛠️ Merchant Integration Steps

  • Merchant generates KHQR payload via Bakong Open API or integrated PSP (2C2P, Antom, PayerMax)
  • System renders EMVCo-compliant KHQR standard code
  • Merchant receives instant settlement notification via webhook from National Bank of Cambodia switch

🚀 Supported Payment Gateways & Acquirers (PSPs)

🔌 2C2P🔌 Antom