ABSTRACT
Technological innovation is transforming the provision of financial services and products in Cambodia. Payment services in particular have gone through significant evolution in recent years, through the introduction of new payment methods, platforms and interfaces. This chapter provides an overview of Cambodia’s payment landscape,
and how an efficient payment system could promote the use of local currency. This chapter draws on the real case of the Bakong payment system, which uses blockchain technology and distributed ledger technology (DLT) to leapfrog traditional technological constraints and creates interoperability between all players, addressing challenges such transaction fees, financial inclusion, and use of local currency.
