PHNOM PENH, July 28 (Xinhua) -- Cambodia's mobile payment platform, Bakong, recorded approximately 1 billion transactions valued at 135.8 billion U.S. dollars in the first half of 2026, according to the National Bank of Cambodia's (NBC) biannual report released Tuesday.
The data highlights a significant shift toward the local currency.
Transactions in Cambodian riel (KHR) reached 665.2 million, totaling 183.9 trillion riel (about 45.5 billion U.S. dollars) between January and June this year, the report said. This represents a staggering 120 percent surge in transaction volume and a 42.9 percent increase in value compared to the same period last year.
Meanwhile, U.S. dollar transactions via the platform grew to 339.2 million, totaling 90.3 billion dollars, marking year-on-year increases of 40.9 percent in volume and 31.1 percent in value.
Launched in October 2020, Bakong operates as a peer-to-peer fund transfer service for retail customers across local banks, financial institutions, and payment service providers.
According to the report, Bakong currently has 63 operational members, with five more undergoing system integration.
The platform boasts 38 million user accounts, and Bakong payments are accepted across approximately 4.5 million merchant locations.
NBC's Governor Chea Serey said digital payment systems have played a key role in promoting formal financial services and the use of the riel, while driving domestic economic activity and regional and global integration.
"The Bakong system continues to evolve its features and expand connectivity with regional partners and international payment networks, directly supporting the Royal Government's digital economic and social development policies," she said.
Serey added that the Bakong system has earned international acclaim, with many central banks now studying the Bakong model to develop their own modern payment systems. ■