India, June 3 -- The Government of India has issued a release:
NPCI International Payments Limited (NIPL), the international arm of the National Payments Corporation of India (NPCI), has officially partnered with ACLEDA Bank Plc. to launch Unified Payments Interface (UPI) acceptance in Cambodia.
The breakthrough collaboration went live following a formal ceremony in Phnom Penh, attended by H.E. Dr. Chea Serey, Governor of the National Bank of Cambodia (NBC), alongside high-level representatives from the Reserve Bank of India (RBI). The event marked the completion of Phase 1 in establishing a cross-border QR payment linkage between the two nations through Bakong's KHQR, Cambodia's national QR code.
The first phase enables millions of Indian travellers to make seamless QR payments at over 4.5 million Cambodian merchants, with a two-way corridor to follow. While the first phase prioritizes incoming Indian travellers, the partnership is explicitly designed to scale. In the subsequent phase, the corridor will become fully bi-directional. Cambodian citizens visiting India will soon be able to use their domestic banking and digital payment applications to scan millions of UPI QR codes throughout India, completing a highly advanced, two-way interoperable financial network through Bakong's KHQR.
The Strategic Impact: Driving Tourism and Digital Efficiency
This digital payment corridor represents a major shift in how commerce operates between the two countries, delivering immediate benefits:
UPI Coverage around the world
UPI is accepted in Eight countries - Singapore, the United Arab Emirates, France, Mauritius, Nepal, Bhutan, Qatar and Sri Lanka - enabling Indian travellers to make seamless payments abroad through familiar platforms. Now, Cambodia is the ninth country joining the list.
Disclaimer: Curated by HT Syndication.
