The rollout was formally inaugurated in Phnom Penh in the presence of Chea Serey, Governor of the National Bank of Cambodia, along with representatives from the Reserve Bank of India. The launch marks the first phase of a bilateral QR-based payment interoperability arrangement between India and Cambodia.
Under the first phase, Indian travellers can use UPI-enabled apps to scan KHQR codes at more than 4.5 million merchant outlets across Cambodia, including retail stores, restaurants, and tourist locations. Transactions are enabled through real-time QR-based payments, allowing users to pay in local currency through their existing UPI apps.
In the next phase, the arrangement is expected to expand to enable Cambodian travellers in India to make payments at UPI QR-enabled merchant locations using Cambodian banking or payment applications, creating a two-way interoperable payment corridor.
KHQR, Cambodia’s interoperable QR standard, acts as the acceptance layer for the integration. The initiative is intended to improve cross-border payment efficiency, reduce reliance on cash, and support real-time settlement for merchants and travellers.
Ritesh Shukla, MD & CEO of NPCI International, said the partnership expands India’s digital payments ecosystem globally and enables seamless and familiar payment experiences for Indian users abroad while widening access to digital consumers for Cambodian merchants.
ACLEDA Bank Plc. said the integration supports its broader digital transformation efforts and is expected to improve transaction efficiency, reduce currency friction for travellers, and expand merchant access to cross-border digital payments.
