RBI announces UPI launch in Cambodia: What it means for Indian tourists & businesses
The Unified Payments Interface (UPI) services will now be available at Cambodia, Reserve Bank of India said Wednesday.
This will allow Indian travellers visiting Cambodia to make QR code based payments. Over 4.5 million merchants are enabled with the national QR standard of Cambodia using their UPI applications, RBI said.
RBI has been promoting cross-border payments through interlinkage of UPI with fast payment systems of other jurisdictions.
"This marks the go-live of the first phase of collaboration between NPCI International Payments Ltd and Acleda Bank Plc, under the aegis of RBI and National Bank of Cambodia. This will allow interoperability of QR-code based person to merchant transactions between the two countries.
The service was launched Tuesday in Cambodia's Phnom Penh.
This will allow Indian travellers visiting Cambodia to make QR code based payments. Over 4.5 million merchants are enabled with the national QR standard of Cambodia using their UPI applications, RBI said.
RBI has been promoting cross-border payments through interlinkage of UPI with fast payment systems of other jurisdictions.
"This marks the go-live of the first phase of collaboration between NPCI International Payments Ltd and Acleda Bank Plc, under the aegis of RBI and National Bank of Cambodia. This will allow interoperability of QR-code based person to merchant transactions between the two countries.
The service was launched Tuesday in Cambodia's Phnom Penh.
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