PRASAC Offers New and Modern Interbank Payment Service “Bakong”

In the digital age and the modernization on the use of financial services, PRASAC has been actively involved in promoting the financial inclusion in Cambodia which is the vision and efforts of the National Bank of Cambodia.

PRASAC Offers the Interbank, New and Modern Payment Service “Bakong”

Bakong, an interbank payment and fund transfer service, has been created under the initiative of the National Bank of Cambodia (NBC) and with the participation of banks and microfinance institutions. Bakong has been providing a new and best option to Cambodian people.

PRASAC allows customers and the public to use Bakong service by using PRASAC Mobile Banking, Internet Banking and branches conveniently. Customers can transfer fund from PRASAC account to other account in member banks up to KHR 400 million or USD 100,000 per day and can transfer to Bakong account up to KHR 10 million or USD 2,500 per day.

What is more special is that the customers of all partner banks can scan and pay with PRASAC’s merchants across the country.

Mr. Say Sony, Senior Vice President of PRASAC, said that: “We are truly honored and delighted to be an integral part of NBC’s Bakong project, a mobile payment application using Blockchain technology that will bring all payment services providers and financial institutions onto the same platform in order to make people easier and help them to better daily cash management.”

He added, “Bakong is the mean of payment or a modern payment instrument allowing customers to transfer funds to one another across platform throughout the country. It is safe, easy, fast and free of charge. Customers can therefore blissfully enjoy availing themselves of this service to transfer, make payment, deposit, and receive funds effortlessly.”

PRASAC would like to congratulate the launch event of new era payment system “Bakong” with the National Bank of Cambodia and other Banks and Financial Institution today. PRASAC is committed to promoting and offering modern and convenient financial services to valued customers.