Your UPI Will Soon Work in Cambodia! Massive Cross-Border Payment Corridor Unveiled

NPCI International and ACLEDA Bank Forge Cross-Border Payment Link

NPCI International Payments Limited (NIPL) and ACLEDA Bank Plc. of Cambodia have announced a strategic partnership to create a significant two-way QR payment corridor. This collaboration aims to seamlessly integrate India's Unified Payments Interface (UPI) with Cambodia's KHQR system, revolutionizing digital payments for travelers between the two nations.

Background Details

• The groundwork for this partnership was laid in March 2023 when the National Bank of Cambodia (NBC) and NIPL signed a Memorandum of Understanding (MoU).
• In May 2023, ACLEDA Bank was officially selected by the National Bank of Cambodia to act as the sponsoring bank for this initiative.

Key Numbers or Data

• Indian tourists will gain access to over 4.5 million KHQR merchant touch points across Cambodia.
• Cambodian visitors in India will be able to utilize the extensive network of more than 709 million UPI QR codes.
• ACLEDA Bank serves over 6.18 million customers and managed $11.94 billion in total assets as of September 2025.

Latest Updates

• Both NPCI International and ACLEDA Bank are actively engaged in developing and integrating the necessary systems.
• The cross-border QR payment service, allowing India UPI apps to scan KHQR, is slated for launch in the second half of 2026.

Importance of the Event

• This partnership establishes a robust network-to-network link between the UPI ecosystem and the KHQR ecosystem.
• It aims to significantly improve convenience, security, and interoperability for millions of merchants and customers conducting cross-border transactions.
• The initiative aligns with ASEAN's broader objectives of promoting inclusive digital economies by providing fast, affordable, and secure payment options.

Future Expectations

• Following the initial launch, both organizations plan to onboard additional banks from India and Cambodia to expand service accessibility.

Management Commentary

• Dr. In Channy, President and Group Managing Director of ACLEDA Bank, expressed excitement about formalizing the framework for interconnecting UPI with KHQR, ensuring secure and interoperable payments.
• Ritesh Shukla, MD and CEO of NPCI International, highlighted the partnership as a key step in strengthening interoperable digital payment corridors and empowering consumers with familiar payment options globally.

Impact

• The collaboration is expected to boost tourism and business between India and Cambodia by offering a frictionless payment experience for travelers.
• It further expands NIPL’s global footprint, demonstrating the growing international acceptance of Indian payment systems.
• Impact Rating: 7/10

Difficult Terms Explained

• UPI (Unified Payments Interface): India's real-time payment system allowing instant mobile-based money transfers.
• KHQR: Cambodia's national QR code standard for payments.
• NIPL (NPCI International Payments Limited): The international arm of India's National Payments Corporation of India, focused on global expansion of UPI and RuPay.
• ACLEDA Bank Plc: A major commercial bank in Cambodia.
• Bakong: Cambodia's national QR network, operated by ACLEDA Bank.
• MoU (Memorandum of Understanding): A preliminary agreement outlining a common line of action between parties.