Indian travellers can make UPI payments in Cambodia, Pg21

Key Highlights:

• India and Cambodia launched cross-border Unified Payments Interface (UPI) payment connectivity on June 2, 2026, in Phnom Penh.
• This initiative enables Indian travellers to make payments using UPI at over 4.5 million QR code-enabled merchant outlets across Cambodia.
• The collaboration is between NPCI International Payments Ltd (NIPL) and Acleda Bank Plc, overseen by the Reserve Bank of India (RBI) and the National Bank of Cambodia.
• This marks the first phase of establishing a seamless digital payment corridor between the two nations.

Detailed Insights:

• The launch signifies a major step in enhancing digital payment convenience for Indian tourists visiting Cambodia.
• It aligns with India's strategic objective to globalize its robust UPI payment system and promote financial inclusion internationally.
• The current phase prioritizes payments by Indian travellers in Cambodia, utilizing Cambodia's national QR code standard, KHQR.
• A subsequent phase will establish a fully bi-directional corridor, allowing Cambodian citizens to make payments in India using their domestic banking applications.
• This partnership aims to reduce reliance on traditional payment methods, offering a more cost-effective, secure, and instantaneous transaction experience.

Key Concepts Involved:

• Unified Payments Interface (UPI): An instant real-time payment system developed by NPCI facilitating inter-bank peer-to-peer and person-to-merchant transactions.
• NPCI International Payments Ltd (NIPL): The international arm of the National Payments Corporation of India (NPCI), focused on deploying UPI and RuPay globally.
• Cross-border Payment System: A mechanism allowing financial transactions between individuals or entities located in different countries.