Bhutan QR (National QR)National QR standard accepted by all domestic banking apps, with BHIM-UPI acceptance for visitors from India.Royal Monetary Authority (with Bank of Bhutan) · since 2020
Global registry · Asia-Pacific · South Asia
Bhutan Payment systems
3 systems listed.
This country doesn’t have a written market analysis yet: e-commerce shares, regulator, and key players are still to be documented. The systems below, however, are verified.
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Payments in Oceania and CanadaPayments in Central AsiaPayments in South Asia outside IndiaPayments in Southeast AsiaPayments in Japan and KoreaPayments in Malaysia and SingaporeAccepting payments in Australia and New ZealandAccepting payments in Indonesia and ThailandAccepting payments in Japan and South KoreaAccepting payments in Southeast AsiaPayments in Asia: super-apps, public rails, and cross-border QROpening a new market: the payments playbook
Interoperable QR
Acquiring and processing
Bhutan Financial Switch (BFS)A national switch run directly by the central bank, linking ATMs, POS terminals, the BIPS payment gateway, and the national QR code. Bhutan is one of the few countries where the central bank is also the sole technical operator.Royal Monetary Authority of Bhutan · since 2011
Cross-border rails
BHIM UPI in BhutanThe world’s first country to accept UPI for merchant payments and, later, to issue it domestically. The reference model for exporting India’s standard to a small neighboring market.NPCI International Payments Ltd (NIPL) with the Royal Monetary Authority of Bhutan · since 2021