India's UPI Partners with Cambodia's ACLEDA Bank

NPCI International Payments Limited (NIPL), the global arm of the National Payments Corporation of India (NPCI), has partnered with the Association of Cambodian Local Economic Development Agencies Bank (ACLEDA Bank Plc.).

The objective of this partnership is to facilitate the acceptance of the Unified Payments Interface (UPI) through Cambodia's national Khmer Quick Response (KHQR) code system. This KHQR system operates under the Bakong digital payment system.

The first phase of this cross-border QR payment linkage between India and Cambodia was inaugurated in Phnom Penh, Cambodia.

The event was attended by the Governor of the National Bank of Cambodia (NBC), H.E. Dr. Chea Serey, and senior officials from the Reserve Bank of India (RBI).

This significant partnership was launched following a formal ceremony in Phnom Penh, Cambodia's capital, attended by the Governor of the National Bank of Cambodia (NBC), H.E. Dr. Chea Serey, and high-level representatives from the Reserve Bank of India (RBI).

The event marked the completion of the first phase of establishing a cross-border QR payment link between the two nations via Bakong's KHQR, Cambodia's national QR code.

Cambodia Becomes the 9th Country to Adopt UPI

UPI is already accepted in eight countries—Singapore, the United Arab Emirates, France, Mauritius, Nepal, Bhutan, Qatar, and Sri Lanka—enabling Indian travelers to make easy payments abroad using a platform they are familiar with.

Now, Cambodia has become the ninth country to join this list.

The Unified Payments Interface (UPI) was developed by the National Payments Corporation of India (NPCI) and was officially launched on April 11, 2016. 

UPI Cross-Border QR Payment System

The objective of this initiative is to enable real-time interoperable digital payments, enhance transaction efficiency, reduce reliance on cash, boost tourism and trade, and improve financial inclusion for merchants and consumers in both India and Cambodia.

Travelers can scan KHQR codes displayed by Cambodian merchants using UPI apps issued by Indian banks and payment service providers to make instant payments.

Indian users can now make QR payments via UPI apps at over 4.5 million KHQR-enabled merchants in Cambodia, while Cambodian users will soon be able to make payments at millions of UPI QR-enabled merchants in India, thereby establishing a two-way interoperable cross-border payment system.

The Country of Cambodia

Cambodia is a culturally rich, predominantly rural country located in mainland Southeast Asia.

For over 2,000 years, its civilization has assimilated and adapted cultural, religious, and architectural influences from both India and China. It reached its historical peak during the classical Angkor Empire (9th–15th centuries), which is celebrated for the construction of the vast temple complexes of Angkor Wat.

It shares borders with Thailand to the west and northwest, Laos to the northeast, and Vietnam to the east and southeast. Its southwestern coast meets the Gulf of Thailand.

The famous Tonle Sap Lake here is the largest freshwater lake in Southeast Asia; it is the only country in the world to feature an image of a building (a Hindu temple) on its national flag.

More than 90% of the population practices Theravada Buddhism. The official language is Khmer.