Bakong System is a new service that enables you to easily receive and transfer funds, using your personalized QR code or mobile phone number instead of a bank account number. You can register Bakong System with National ID card/Passport and local valid phone number.
Angkor Times Latest Questions
Join Angkor Times Community for the Daily Digest
Facebook: https://www.facebook.com/groups/angkortime
Linkedin: https://www.linkedin.com/groups/6922931/
What are the benefit of Bakong System?
• To Individual- it is convenient, fast, and security. Bakong System is the new life style of payment mechanism that enable you to easily receive and transfer funds to your friend, family and business partner at anytime, anywhere in Cambodia.
• To Business- easily manage your sale through electronic payment platform. Bakong System allows businesses to experience the new way of doing business in the cashless environment. This is the way we pay in the next generation.
How is information registered with Bakong System secure?
Bakong System provides a high level of security and is under the supervision of the National Bank of Cambodia, in line with other funds transfer systems.
· Bakong System Registration – You will need to provide proof of identity by providing your National ID card, account name and the mobile phone number you’ve already provided to the bank (you will be sent an OTP via SMS for verification). The National ID card and mobile phone number are only used for connecting.
· Funds Transfer via Bakong System – You can transfer funds using your personalized QR code or phone number instead of your bank account information.
· Security – Bakong is adopted the latest technology, Blockchain technology, known as the highly secure. Your information is stored in at the different node preventing the possibility of hacking.
How do I register for Bakong System?
You can download Bakong System application from Appstore or Playstore and follow the simple instruction of registration or visit one of Bakong System member banks/financial institutions of your preference or nearby you.
What are the conditions for Bakong System registration?
The conditions for Bakong System registration are as follows:
· One account can be registered with both a National ID and mobile phone number.
· Only one mobile phone number can be registered per account.
· Only individual accounts (savings/current accounts) in Khmer Riel and US Dollar can be used to register for Bakong System.
· Joint and Fixed Deposit accounts cannot be registered for Bakong System.
· If registering for Bakong System with your mobile phone number, you will receive an OTP via SMS for verification.
· National ID or mobile phone numbers can only be registered with another account, if the previous registration has already been cancelled.
What channel can I use to register for Bakong System?
Bakong is applicable for Mobile Phone and Table (Android and IOS), and Desktop application.
Visit Bakong official website: https://bakong.nbc.org.kh/