By Admin 
UPI in Cambodia for Tourists: India has launched Unified Payments Interface (UPI) in Cambodia. With the help of which it will be easier for Indian customers to do UPI. Also, now Indians can make payments directly through mobile applications at more than 40 lakh retail shops in the South-East Asian country. This important step taken by India is being considered very effective. Travelers can make quick payments by scanning the KHQR code offered by Cambodian merchants using UPI apps partnered with Indian banks and payment service providers.
Partnership between NIPL and ACLEDA Bank
NPCI Overseas Payments Limited (NIPL), the overseas arm of the National Payments Corporation of India (NPCI), and Aceleda Bank PLC of Cambodia have partnered to provide this facility. The agreement is based on Cambodia’s national QR payment system, known as KHQR, which operates under the Bakong digital payment system, which connects to India’s UPI network.
The move is another important step in India’s efforts to expand its domestic digital payments infrastructure internationally and facilitate travelers’ international spending, Business Standard reported.
How can passengers pay?
This system works just like domestic UPI transactions. Passengers can make payments using QR codes directly from their linked bank accounts, eliminating the need to carry lots of cash or rely on foreign debit and credit cards. The initial phase of this system aims to provide convenience to Indian customers traveling to Cambodia. At a later stage, Cambodian customers will also be able to make payments in India using their KHQR-enabled app at UPI merchant locations.
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What did the Reserve Bank of India say?
The Reserve Bank of India said in a press release, ‘The Reserve Bank of India (RBI) is trying to better integrate UPI with instant payment systems of other countries to promote cross-border payments. These initiatives are in line with the G20 roadmap to improve cross-border payments, which aims to focus on making payments cheaper, more efficient, more transparent and more accessible.
Indian customer at the heart of the scheme
The first phase of this scheme has focused on Indian customers visiting Cambodia. Approval is expected to begin in a later phase, allowing Cambodian customers to make payments in India using their KHQR-enabled applications at UPI merchant locations.
Cambodia’s inclusion in India’s digital payment system is a very special step for the global level of UPI. Now travelers have one more go where paying for food, taxi or souvenir can be as easy as scanning a QR code and approving the transaction on a smartphone.
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