NPCI and ACLEDA Bank Partner to Bring UPI Payments to Cambodia

India’s Unified Payments Interface (UPI) has achieved the important milestone as it was launch in Cambodia through the partnership between NPCI International Payments Limited (NIPL) and ACLEDA Bank Plc. This initiatives enables the Indian Travelers to make the seamless QR Code based payments across the Cambodia using the familiar UPI applications.

UPI Payments Officially Launched in the Cambodia

NPCI International Payments Limited (NIPL) which is the international arm of the National Payments Corporation of India (NPCI) has partnered with the ACLEDA Bank Plc. to enable UPI payments acceptance across the Cambodia.

The launch ceremony was held in the Phnom Penh and attended by H.E. Dr. Chea Serey, Governor of the National Bank of Cambodia (NBC) along with senior representatives from the Reserve Bank of India (RBI).

This marks the successful completion of the first phase of the India-Cambodia cross-border payment linkage by using the KHQR which Cambodia’s national QR code standard powered by the Bakong digital payment system.

What Does the First Phase Enable?

Under the first phase of this project, Indian visitors who are travelling to Cambodia can use their existing UPI-enabled applications to make the QR-based payments at more than 4.5 million merchants across the country.

This integration eliminates the need for the carrying large amounts of cash or exchanging currency frequently during travel. Payments can be completed instantly with the mobile devices using the familiar UPI ecosystem.

Key Features of Phase 1

• Indian travellers can scan and directly pay using UPI apps.
• Payments are accepted via Cambodia’s KHQR network.
• It provide access to over the 4.5 million merchant locations.
• Assure the real-time and secure digital transactions.
• Improved payment convenience for tourists and business travelers.

Phase 2: Towards a Two-Way Payment Corridor

The partnership is designed to evolve the beyond one-way payment acceptance. In the next phase, Cambodia and India will establish the fully bi-directional payment corridor.

Once get implemented, Cambodian citizens travelling to India will be able to use their domestic banking and the digital payment applications which connected to the Bakong-KHQR system to scan and pay at millions of the UPI QR codes across India.

This two-way interoperability will creates the one of the most advanced cross-border retail payment linkages in the region and it further deepen financial connectivity between the two nations.

How Will Travellers Benefit?

The introduction of the cross-border QR payments significantly improves the travel experience for the many Indian tourists visiting Cambodia.

Travelers will no longer need to heavily rely on foreign currency exchange services or carry substantial amounts of cash. The familiarity of the UPI applications provides a smooth and secure payment experience, reducing the transaction friction and improving convenience during shopping, dining, transportation and tourism-related activities.

Additionally, the transparent exchange rate mechanisms and real-time payment processing enhance the trust and efficiency in international transactions.

Benefits for Cambodian Businesses and the Economy

The initiative is also expected to provide the substantial economic advantages to Cambodian merchants and service providers.

By accepting the UPI payments, several businesses gain access to the growing number of Indian tourists and increased digital payment adoption can also improves the operational efficiency and reduce cash-handling costs.

Economic Benefits

• Increased spending by the Indian visitors.
• Faster and secure transaction settlements.
• Reduced the dependence on cash transactions.
• Better financial transparency.
• Enhanced the digital economy growth.

The move also supports Cambodia’s broader goal of expanding digital financial infrastructure and promoting cashless transactions.

UPI’s Growing Global Footprint

After Cambodia joining the UP network, UPI is now accepted in the nine countries and reflecting the India’s increasing influence in global digital payments.

Countries Accepting UPI

• Singapore
• United Arab Emirates (UAE)
• France
• Mauritius
• Nepal
• Bhutan
• Qatar
• Sri Lanka
• Cambodia