ACLEDA Bank, India’s NIPL Link KHQR–UPI for Cross-Border Payments

PHNOM PENH, Cambodia (Dec. 4, 2025) — ACLEDA Bank Plc. has signed an agreement with NPCI International Payments Limited (NIPL) to connect Cambodia’s KHQR with India’s Unified Payments Interface (UPI), establishing one of Asia’s largest interoperable digital payment corridors.

The partnership will allow Indian tourists to pay at more than 4.5 million KHQR merchant points in Cambodia, while Cambodian travelers can scan over 709 million UPI QR codes across India.

ACLEDA, appointed by the National Bank of Cambodia to operate the Bakong (KHQR) network, will oversee integration with NIPL, with the system expected to launch in the second half of 2026.

Dr. In Channy, ACLEDA’s President & Group Managing Director, said the agreement formalizes a secure, interoperable framework that advances ASEAN’s vision for inclusive digital economies. He said the initiative will make payments faster, cheaper, and more convenient for travelers, while boosting trade and tourism between the two countries.

The cooperation builds on a 2023 MoU between the National Bank of Cambodia and NIPL to promote cross-border payments and greater use of national currencies. NIPL CEO Ritesh Shukla said the deal reflects a shared commitment to expanding trusted and scalable digital payments worldwide.