Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the NBC licence, including banking and payment rails.
Get a payment license in Cambodia.
The National Bank of Cambodia licenses payment service institutions and third-party processors under the Law on Banking and Financial Institutions and its Prakas of 20 June 2017. Twenty-eight institutions sat on the register at 31 May 2026, and the 2025 payment systems report counts thirty providers and four third-party operators. Retail flows run on Bakong, the central bank's own rail with 61 member institutions, alongside FAST, the Cambodian Shared Switch and the KHQR standard. The capital figure, the safeguarding rule and the decision period live in Prakas the regulator publishes only as scanned documents, so we obtain and confirm all three in writing for your case before any work begins.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated
Cambodia in brief
A short register, a central bank that runs its own rail, and a rulebook published as scans.
Cambodia licenses payment businesses out of the National Bank of Cambodia, not a separate authority. The base is the Law on Banking and Financial Institutions of 1999 and the Law on Negotiable Instruments and Payment Transactions of 2005; the operative text for payment firms is the Prakas on the Management of Payment Service Institutions of 20 June 2017, sixteen pages, Khmer only. Third-party processors sit under their own Prakas B9-010-151 of 25 August 2010, amended by Prakas B7-019-420 of 6 December 2019, with five sub-categories: communication facility, interbank clearing facility, mobile or other remittance provider, account-management agent, and payment-order sending and receiving point. One correction belongs early, because it turns up in a great deal of secondary writing: there is no Cambodian Law on Payment Systems of 2021. The central bank's 2023 supervision report records only that a draft on the conduct and procedures of the payment system was being prepared. What exists is the banking law and a stack of Prakas.
The register is short and public. The list of payment service institutions counted 28 at 31 May 2026, and the 2025 Payment System Annual Report puts payment service providers at 30 against 29 a year earlier, with four third-party operators against six. Retail flows run over Bakong, the central bank's own rail, which reports 61 member institutions, alongside FAST, the Cambodian Shared Switch and the KHQR merchant standard. Tax on income is 20% for legal persons, with a minimum tax of 1% of annual turnover and VAT at 10% on domestic supplies. Now the part most write-ups skip. The minimum capital for a payment service institution, the rule on holding customer funds and the period the central bank has to decide are all set in Prakas the NBC publishes only as image scans with no text layer. They cannot be read from the website. We obtain them, have the Khmer read, and confirm all three in writing for your case before any work begins. We do not quote a figure we have not seen.
The National Bank of Cambodia licenses payment service institutions under the 1999 banking law and the Prakas of 20 June 2017, and third-party processors under Prakas B9-010-151. There is no Cambodian Law on Payment Systems of 2021. The register showed 28 institutions at 31 May 2026.
Bakong, the central bank's own rail, reports 61 members, alongside FAST, the Shared Switch and KHQR. Tax on income 20%, minimum tax 1% of turnover, VAT 10%. The capital, safeguarding rule and decision period sit in scanned Prakas; we confirm all three in writing first.
The routes
Payment service institution, or third-party processor.
Two licences, two Prakas, one supervisor. The processor route covers five named sub-categories from the 2010 text; the institution route covers the payment business itself. We fix the route first, then build once.
Payment service institution, or one of five third-party processor sub-categories.
01 - PAYMENT SERVICE INSTITUTION
Payment service institution licence
The licence the National Bank of Cambodia grants to non-bank payment businesses under the Prakas on the Management of Payment Service Institutions of 20 June 2017, read alongside the Law on Banking and Financial Institutions of 1999.
The licence the National Bank of Cambodia grants to non-bank payment businesses under the Prakas on the Management of Payment Service Institutions of 20 June 2017, read alongside the Law on Banking and Financial Institutions of 1999.
- ✓Granted and supervised by the National Bank of Cambodia
- ✓Banking Law 1999 · Prakas of 20 June 2017
- ✓28 institutions on the register at 31 May 2026
- ✓Bakong, FAST and the Cambodian Shared Switch
- ✓KHQR for merchant acceptance
- ✓Capital and safeguarding read from the Prakas for your file
02 - THIRD-PARTY PROCESSOR
Five sub-categoriesThird-party processor licence
The separate licence under Prakas B9-010-151 of 25 August 2010, amended in December 2019, for the businesses that sit behind a payment institution rather than facing the customer directly.
Third-party processor under the 2010 Prakas: communication facility, interbank clearing, remittance, account-management agent, payment-order point.
- ✓Communication facility
- ✓Interbank clearing facility
- ✓Mobile or other remittance provider
- ✓Account-management agent
- ✓Payment-order sending and receiving point
- ✓Four third-party operators counted in the 2025 report
Costs and timelines are confirmed for your case before any work begins. The capital figure, the rule on holding customer funds and the period the central bank has to decide sit in Prakas the NBC publishes only as scanned documents with no text layer. We obtain them, have the Khmer read, and confirm all three in writing for your case. We quote no figure we have not seen.
Why Cambodia
Sixty-one banks on one central-bank rail, and a register you can read in a morning.
Cambodia is small, dollar-heavy and unusually centralised: the same institution writes the rules, grants the licence and operates the retail rail. Six reasons founders look at it, including the one that argues against.
✓
The central bank runs the rail
Bakong is operated by the National Bank of Cambodia itself and reports 61 member institutions, so a licensee joins the national rail rather than negotiating with a bank-owned switch.Bakong, 61 member institutions.
✓
One national QR
KHQR is a single merchant-acceptance standard set by Prakas of 26 June 2020, which removes the acceptance fragmentation that slows launches elsewhere in the region.KHQR for merchant acceptance.
✓
A register of 28
Twenty-eight payment service institutions held licences at 31 May 2026. The 2025 annual report counts 30 providers against 29 a year earlier, so the market grows slowly and visibly.Institutions licensed at May 2026.
✓
Tax on income at 20%
Twenty per cent for legal persons, a minimum tax of 1% of annual turnover and VAT at 10% on domestic supplies, with 0% on exports.Plus 1% minimum on turnover.
✓
A rulebook still being written
Prakas on cryptoasset transactions in December 2024, a Technology and Cyber Risk Management Guideline from 1 January 2026, an instant-payment logo Prakas in May 2026 and a FinTech roadmap to 2030.Crypto, cyber risk, cross-border Prakas.
✓
What we confirm before you spend
The capital, the safeguarding rule and the decision period are published as scans. We obtain them from the central bank and put all three in writing before the corporate work starts.Figures in writing before you spend.
How it compares
How Cambodia differs from its neighbours.
Cambodia has the smallest register of the four and the only central bank in the group that operates the retail rail itself. It is also the only one whose licensing figures are not published in readable form. Both facts belong in the same table.
Cambodia vs other jurisdictions
| Feature |  Cambodia | Other jurisdictions |
|---|---|---|
| Published capital | Set in Prakas, issued as scans | Printed in the statute |
| Register | 28 payment service institutions | Dozens to hundreds |
| Retail rail | Bakong, run by the central bank | Bank-owned switches |
| Tax on income | 20% · 1% minimum tax | 20-25% in the region |
Published capital
CambodiaSet in Prakas, issued as scans
Other jurisdictionsPrinted in the statute
Register
Cambodia28 payment service institutions
Other jurisdictionsDozens to hundreds
Retail rail
CambodiaBakong, run by the central bank
Other jurisdictionsBank-owned switches
Tax on income
Cambodia20% · 1% minimum tax
Other jurisdictions20-25% in the region
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Cambodia | PSI / third-party processor (NBC) | 20% · 1% minimum tax | Capital set in Prakas, confirmed in writing |
 Vietnam | Intermediary payment services (SBV) | 20% · VAT 10% | VND 50bn / 300bn · 10-year licence |
 Thailand | Licence / registration (BOT · MOF) | 20% · 15% small | THB 100M e-money · 60 business days |
 Indonesia | PJP licence (Bank Indonesia) | 22% · VAT 11% effective | IDR 15bn / 5bn / 500m · 51% domestic control |
CambodiaLicense typePSI / third-party processor (NBC)
Taxation20% · 1% minimum tax
RequirementsCapital set in Prakas, confirmed in writing
VietnamLicense typeIntermediary payment services (SBV)
Taxation20% · VAT 10%
RequirementsVND 50bn / 300bn · 10-year licence
ThailandLicense typeLicence / registration (BOT · MOF)
Taxation20% · 15% small
RequirementsTHB 100M e-money · 60 business days
IndonesiaLicense typePJP licence (Bank Indonesia)
Taxation22% · VAT 11% effective
RequirementsIDR 15bn / 5bn / 500m · 51% domestic control
Before you apply
Requirements for the NBC licence.Requirements for the licence.
The conditions live in Prakas that are published as image scans rather than text, so the honest checklist is a mix of what the central bank's English pages state and what we read out of the Khmer for each file.
01
A Cambodian company of the kind the register shows: every institution on the National Bank of Cambodia's list of payment service institutions is a public limited company.
02
A route chosen before anything else - the payment service institution licence, or one of the five third-party processor sub-categories set out in Prakas B9-010-151 of 2010.
03
Paid-in capital at the figure set in the Prakas on the Management of Payment Service Institutions, which the central bank publishes only as a Khmer image scan; we obtain it and confirm the amount in writing before you fund the company.
04
An arrangement for holding customer funds that meets the safeguarding rule in the same Prakas, read out of the Khmer text rather than assumed from a neighbouring jurisdiction.
05
Fit-and-proper documentation for shareholders, directors and managers under the Prakas grouped in category E1 of the central bank's legislation index.
06
AML and counter-terrorist-financing policies and controls under the same category E1 instruments, with a responsible officer named in the file.
07
Technology documentation to the Technology and Cyber Risk Management Guideline in force since 1 January 2026 and the Technology Risk Management Guidelines of 26 July 2019.
08
Customer onboarding and transaction procedures matching the Circular on e-KYC procedures and transaction limits of 26 March 2021, whose figures are also published as a scan and read for each file.
09
A connection plan for Bakong, FAST or the Cambodian Shared Switch, with KHQR for merchant acceptance, agreed before the licence rather than after it.
10
A written confirmation from the central bank of the period it takes to decide, obtained before any timetable goes into a contract - the Prakas do not publish one in readable form.
01
Cambodian public limited company.
02
Route chosen: institution or processor.
03
Capital at the Prakas figure, confirmed in writing.
04
Safeguarding read from the Khmer text.
05
Fit-and-proper pack for owners and managers.
06
AML policies and a responsible officer.
07
Technology documentation to the 2026 guideline.
08
e-KYC and limits per the 2021 circular.
09
Bakong, FAST or Shared Switch connection plan.
10
Decision period confirmed by the NBC in writing.
Reflects the Law on Banking and Financial Institutions (1999), the Prakas on the Management of Payment Service Institutions (20 June 2017), Prakas B9-010-151 (2010) as amended by B7-019-420 (2019) and the NBC guidelines in force, as of 2026.Banking Law 1999; PSI Prakas of 20 June 2017; Prakas B9-010-151 (2010) as amended in 2019; NBC guidelines.
How it works
From first call to the NBC register.
01
Confirmation first
We obtain the governing Prakas from the central bank and confirm the capital, the safeguarding rule and the decision period in writing before any other work begins.Capital, safeguarding, timing in writing.
02
Route and company
Payment service institution or third-party processor, then the public limited company formed and the shareholding documented.PLC formed, shareholding documented.
03
The application file
Business plan, fit-and-proper pack, AML policies and technology documentation to the central bank's guidelines - prepared in Khmer and English.Khmer and English, policies included.
04
NBC review
Questions answered as they arrive, against the timetable the regulator confirmed to us rather than one we assumed.Questions answered as they arrive.
05
Rails and launch
Bakong, FAST or the Cambodian Shared Switch connected, KHQR live, and the reporting calendar running.Bakong and KHQR live.
Quick facts
RegulatorNational Bank of Cambodia
LawBanking Law 1999 · Prakas of 2017
LicencesPSI · third-party processor
CapitalSet in Prakas · confirmed in writing
Client fundsSafeguarding rule read from the Prakas
Register28 institutions (31 May 2026)
TimelineConfirmed with the NBC before we start
Tax on income20% · VAT 10%
The step most advisers skip is the first one. Where the governing figures are published as image scans, the only defensible timetable is the one the central bank has confirmed in writing for your file.
Your Cambodia desk
Run from our Asia-Pacific desk.
Prifinance - Asia-Pacific desk
Dubai · coordinating Cambodian mandates
33 Level, Al Saqr Business Tower, Dubai
01
Cambodian company formation
A public limited company of the kind every institution on the register uses, with the shareholding and management documented to the central bank's fit-and-proper Prakas.PLC, shareholding, fit-and-proper pack.
02
Reading the Prakas
We obtain the governing Prakas from the National Bank of Cambodia, have the Khmer translated and confirm the capital, the safeguarding rule and the decision period in writing before you fund anything.Khmer scans obtained and translated.
03
Rails and acceptance
Membership of Bakong, FAST or the Cambodian Shared Switch, and KHQR for merchant acceptance, planned with the licence rather than after it.Bakong, FAST, Shared Switch, KHQR.
04
Substance in Phnom Penh
Directors and managers who pass the fit-and-proper test, an AML function, and technology documentation to the guideline in force since 1 January 2026.Directors, AML officer, technology file.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
London
United Kingdom
7 Bell Yard
Madeira
Portugal
Rua da Alegria 31, 1F
Budapest
Hungary
Korányi Sándor u. 4
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of payment companies in Cambodia.
Twenty per cent on income, a minimum tax of 1% of turnover that bites in loss-making years, and 10% VAT - with one rate the tax administration does not publish.
Tax on income 20%
The rate for legal persons. Oil, gas and mineral production-sharing income is taxed at 30%, and general insurance at 5% of gross premiums.Legal persons; 30% extractive.
Minimum tax 1%
One per cent of annual turnover, payable whether or not the year shows a profit. A payment business with thin margins on high volume plans for this line first.Of annual turnover, profit or not.
VAT 10%
Ten per cent on domestic supplies and imports, zero on exports. The product mix decides which fees fall inside the charge.Domestic supplies; 0% exports.
Qualified Investment Projects
Income tax at 0% during the exemption period granted to a Qualified Investment Project; whether a payment company can hold that status is tested before incorporation.During the exemption period.
Dividends to non-residents
The General Department of Taxation does not publish withholding rates on its tax-type pages, and the Law on Taxation of 2023 is a scanned document. The rate is confirmed in writing for your structure.Rate not published by the GDT.
Payroll
Salary tax and contributions on Phnom Penh payroll, priced into the budget alongside the AML officer and the technology documentation.Salary tax + contributions.
Tax summary
Tax on income20% for legal persons
Minimum tax1% of annual turnover
VAT10% domestic · 0% exports
Extractive income30% production sharing
Dividend withholdingNot published by the GDT
PayrollSalary tax + contributions
*Figures as of 2026 per the General Department of Taxation. Withholding rates are absent from its tax-type pages and are confirmed per structure.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Cambodian public limited company, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, licensed institution.
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Cambodia · NBC
Launch your payment project in Cambodia with expert support.
Full-service assistance - from company formation to the NBC licence, Bakong membership, KHQR acceptance and ongoing compliance.
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Request a free conclusion →FAQ
The Cambodian payment licence, answered.
What licence does a payment business need in Cambodia?+
A payment service institution licence from the National Bank of Cambodia, or a third-party processor licence if the business sits behind a payment institution. The central bank grants both, supervises both and operates the national retail rail on top.
Is there a Cambodian Law on Payment Systems?+
No. No such law of 2021 appears on the central bank's legislation pages, and its 2023 supervision report records only that a draft on the conduct and procedures of the payment system was being prepared. The framework is the 1999 banking law, the 2005 law on negotiable instruments and payment transactions, and the Prakas.
How much capital is required?+
The figure is set in the Prakas on the Management of Payment Service Institutions of 20 June 2017, which the central bank publishes only as a Khmer image scan with no text layer. We obtain it and confirm the amount in writing for your case before any work begins. We do not print a number we have not read.
How long does the central bank take to decide?+
No decision period is published in readable form. We ask the regulator for it in writing for the specific route and put the answer in the engagement before a timetable is agreed.
How are customer funds held?+
The safeguarding rule sits in the same 2017 Prakas and is subject to the same problem: it is published as a scan. It is read out of the Khmer text and confirmed in writing with the capital figure and the decision period, as one package, at the start of the file.
How many licensees are there?+
The central bank's list of payment service institutions showed 28 at 31 May 2026. The 2025 Payment System Annual Report counts 30 payment service providers against 29 a year earlier, and four third-party operators against six.
What rails does a licensee join?+
Bakong, the blockchain-based retail rail operated by the National Bank of Cambodia, which reports 61 member institutions; FAST and the Cambodian Shared Switch for interbank flows; and KHQR as the national merchant-acceptance standard.
How are payment companies taxed?+
Tax on income at 20% for legal persons, a minimum tax of 1% of annual turnover, and VAT at 10% on domestic supplies with 0% on exports. Withholding on dividends to non-residents is not published on the tax administration's pages and is confirmed per structure.
What has changed recently?+
A Prakas on cryptoasset transactions in December 2024, access for non-bank institutions to the government-securities platform in August 2024, a Technology and Cyber Risk Management Guideline from 1 January 2026, an instant-payment logo Prakas in May 2026 and a Prakas on cross-border transfers in August 2026. The central bank also published a FinTech development roadmap for 2026 to 2030.
Why Cambodia rather than Vietnam or Thailand?+
Cambodia is the smallest and most centralised of the three: one institution writes the rules, grants the licence and runs the rail, and the register is short enough to read. Vietnam prints its capital tiers and a ninety-working-day clock in the decree; Thailand decides in sixty business days and publishes its e-money floor. If you need figures you can read before you spend, license there. If you want the Bakong network and a small market, license here.
Which licence?+
NBC payment service institution or third-party processor.
Is there a 2021 payment law?+
No. Banking Law 1999 plus Prakas.
Capital?+
In a scanned Prakas; confirmed in writing first.
How long?+
Not published; confirmed with the NBC.
Client funds?+
Safeguarding rule read from the Khmer text.
How many licensees?+
28 at 31 May 2026.
Rails?+
Bakong (61 members), FAST, Shared Switch, KHQR.
Taxes?+
20% income, 1% minimum, VAT 10%.
Recent changes?+
Crypto, cyber-risk and cross-border Prakas.
vs Vietnam / Thailand?+
Smallest register; figures less readable.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
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Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of the National Bank of Cambodia or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.