NPCI International Payments Limited (NIPL) has partnered with ACLEDA Bank Plc. to launch UPI acceptance in Cambodia. The launch was marked at a ceremony in Phnom Penh attended by H.E. Dr. Chea Serey, Governor of the National Bank of Cambodia, and senior officials from the Reserve Bank of India.
This completes Phase 1 of a cross-border QR payment link between UPI and Bakong’s KHQR, Cambodia’s national QR code.
Phase 1 allows Indian travellers to pay at over 4.5 million Cambodian merchants using UPI. This phase covers incoming Indian travellers only. In the next phase, the corridor will become fully bi-directional — Cambodian citizens visiting India will be able to use their domestic banking and digital payment apps to scan UPI QR codes across India.
UPI: What It Means
Benefits listed in the release:
- Eliminates need for currency exchange, carrying cash, or dealing with forex fees for travellers.
- Gives Cambodian merchants access to the Indian visitor market, increasing transaction volumes.
- Lowers cash-handling overhead for merchants and enables real-time digital settlement.
UPI is currently accepted in eight countries: Singapore, the UAE, France, Mauritius, Nepal, Bhutan, Qatar, and Sri Lanka. Cambodia is the ninth country to join.
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