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 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 India and Cambodia through Bakong's KHQR, Cambodia's national QR code
Phase 1 enables millions of Indian travellers to make seamless QR payments at over 4.5 million Cambodian merchants
The partnership is designed to scale with a subsequent phase that will make the corridor 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
UPI is currently accepted in eight countries: Singapore, United Arab Emirates, France, Mauritius, Nepal, Bhutan, Qatar and Sri Lanka
Cambodia becomes the ninth country to accept UPI payments
The initiative creates a highly advanced, two-way interoperable financial network through Bakong's KHQR
