PHNOM PENH — ACLEDA Bank has started Phase 1 of its cross-border QR payment system, allowing Indian travellers to safely make digital payments using their UPI apps at many merchants in Cambodia, the bank announced.
With this rollout, Indian users can now scan Bakong’s KHQR codes at more than 4.5 million merchant outlets across Cambodia, including tourist attractions, restaurants, retail stores, and other establishments, and make instant, real-time payments directly from their UPI-enabled mobile apps. The development marks the first phase of the cross-border QR payment linkage between India and Cambodia.
Expanding Regional Reach
The integration with India’s UPI builds on ACLEDA Bank’s existing cross-border QR payment capabilities across Asia. According to the bank’s product updates, ACLEDA partners nationwide can already accept cross-border payments via the Bakong system using ACLEDA KHQR in Khmer Riel from bank apps in Singapore.
Furthermore, the ACLEDA Super App enables customers to scan and pay seamlessly in Japan, Singapore, Vietnam, Laos, Malaysia, and Thailand, further expanding payment convenience across the region. According to the National Bank of Cambodia (NBC), Cambodia has also launched cross-border payment projects with South Korea and is expanding its network to include China, Japan, and other partners through initiatives like Alipay+.
Benefits for Merchants and Travellers
Dr. In Channy, President and Group Managing Director of ACLEDA Bank Plc., highlighted the significance of the India-Cambodia payment link.
“ACLEDA Bank Plc. is proud to launch Phase 1 of our cross-border interoperability initiative, enabling Indian travellers to execute secure digital transactions via UPI-enabled applications across our extensive KHQR merchant network,” Dr. In Channy stated.
The arrangement connects India’s UPI network with Cambodia’s national QR payment ecosystem, known as KHQR, which operates under the Bakong digital payment system. Merchants can receive payments from all banks in Cambodia and enjoy cross-border QR payment acceptance from international customers across Asia.
FAQ: ACLEDA KHQR Cross-Border Payments
Q: Which countries can I use ACLEDA KHQR for cross-border payments?
A: The ACLEDA Super App enables customers to scan and pay seamlessly in Japan, Singapore, Vietnam, Laos, Malaysia, and Thailand. Additionally, merchants can now accept payments from Indian UPI users via KHQR codes.
Q: How many merchant outlets accept KHQR payments in Cambodia?
A: Over 4.5 million merchant outlets across Cambodia accept KHQR payments, including tourist attractions, restaurants, and retail stores.
Q: Can Cambodian travellers use KHQR when visiting other countries?
A: Yes. Cambodian travellers can use the ACLEDA Super App to scan and pay in Khmer Riel at participating merchants in Thailand, Vietnam, Laos, Japan, Singapore, and Malaysia.
Q: Is there a charge for cross-border QR payments?
A: ACLEDA Bank offers cross-border QR payments free of charge for transactions within daily limits.
Q: How does the India-Cambodia payment link work?
A: Indian travellers can use their UPI-enabled apps to scan KHQR codes displayed by Cambodian merchants. The payment is processed instantly through the Bakong system and settled in Khmer Riel for the merchant.