NPCI International Payments Limited (NIPL), the international division of the National Payments Corporation of India (NPCI), has introduced Unified Payments Interface (UPI) acceptance in Cambodia in collaboration with ACLEDA Bank Plc. The launch event took place in Phnom Penh and was attended by H.E. Dr. Chea Serey, Governor of the National Bank of Cambodia (NBC), and representatives from the Reserve Bank of India.
This initiative marks the initial stage of a cross-border QR payment connection between India and Cambodia. It allows Indian travelers to conduct QR-based transactions seamlessly using UPI-enabled apps at more than 4.5 million merchant locations in Cambodia, including tourist spots, eateries, and retail stores.
In the upcoming phase, visitors from Cambodia to India will have the ability to make payments at numerous UPI QR-enabled merchant sites throughout the country using their local banking or payment applications. This development establishes a two-way interoperable payment channel between the two countries, enhancing payment efficiency and convenience for travelers while bolstering tourism and commercial relations between India and Cambodia.
NPCI International aims to facilitate real-time, secure, and interoperable digital transactions through this partnership, enhancing payment efficiency and convenience for travelers. This collaboration is expected to benefit Cambodian merchants by providing access to a vast Indian digital payment user base, leading to improved cash management, reduced dependence on physical currency, and increased operational efficiency.
Ritesh Shukla, MD & CEO of NPCI International, emphasized that the introduction of UPI acceptance in Cambodia is a significant advancement in expanding India’s digital payment ecosystem globally. He highlighted that this initiative ensures Indian travelers experience a familiar and seamless payment process abroad, while Cambodian merchants tap into millions of digital-savvy consumers.
Dr. In Channy, President and Group Managing Director of ACLEDA Bank Plc., noted that this partnership signifies a significant milestone in Cambodia’s digital transformation and cross-border payment interoperability efforts. The integration is expected to streamline transactions and alleviate foreign exchange challenges for travelers, while enabling local merchants to access a broader digital market.
