Rwanda and Cambodia launched a trial connecting their eKash and Bakong payment systems, testing a faster way to transfer money from Cambodia directly into bank accounts and digital wallets in Rwanda.
The National Bank of Rwanda (BNR) and the National Bank of Cambodia announced the initiative on Sunday, November 15, during the Black Swan Summit Cambodia in Phnom Penh, held alongside the Francophonie Summit. The launch took place at the Koh Pich Exhibition and Convention Center.
The two central banks said the system would enable customers in Cambodia to send money to beneficiaries in Rwanda “quickly and securely,” through a connection between their national payment networks.
The initiative is a proof of concept, meaning the institutions are testing how the service works before any wider rollout. The announcement does not indicate that transfers from Rwanda to Cambodia are available under the same arrangement.
Under the system, Cambodia’s Bakong payment network connects with Rwanda’s eKash platform, operated by RSwitch. The arrangement allows participating financial institutions in Cambodia to transfer money directly to bank accounts and digital wallets belonging to beneficiaries in Rwanda.
ACLEDA Bank serves as the correspondent bank in Cambodia, while I&M Bank (Rwanda) acts as the settlement bank on the Rwandan side. Both institutions support the movement of funds through the interconnected payment systems.
For individuals sending money from Cambodia to Rwanda, the initiative is intended to simplify international transfers while improving speed and security.
Businesses could also benefit from easier payments between the two countries. The central banks identified trade, investment and tourism as sectors where the system could support financial transactions and strengthen economic cooperation.
However, the joint statement did not specify transaction fees, transfer limits, exchange rates or a date for wider public access. These details will be important in determining how the service compares with existing international money transfer options.
The development builds on financial cooperation between the two countries. In April 2023, their central banks signed an agreement covering financial-sector development and the exchange of technical expertise.
They strengthened that relationship in May 2026, announcing plans to develop cross-border payment services connecting their financial systems.
In Rwanda, eKash connects participating banks and mobile money providers, allowing customers to transfer funds between different financial platforms.
In its October 2026 financial stability report, the National Bank of Rwanda said monthly eKash transactions had increased to 14.6 million, with their value reaching Rwf1.2 trillion following the platform’s nationwide rollout in July.
Cambodia’s Bakong system similarly connects financial institutions and digital wallets, supporting electronic payments and facilitating financial transactions through its network.
Connecting the two systems represents another step in expanding digital financial services between Africa and Asia, with potential benefits for individuals, businesses and financial institutions.
The initiative also complements broader cooperation between Rwanda and Cambodia, which recently signed agreements covering investment promotion, tourism and air transport during President Paul Kagame’s state visit.
The results of the trial will help determine how the service can be expanded, with wider availability depending on further implementation by the participating financial institutions.
Elie GATETE
RADIOTV10