Payments/BT
Bhutan
ISO BT · 3 schemes
Summary
- Bhutan QR national standard (43.27% of payment volume)
- BIPS (Bhutan Immediate Payment Service) infrastructure
- First country to adopt UPI standards for QR deployment
- 23,315 registered merchants nationwide (2024)
- Cross-border with India BHIM UPI
Banking landscape
Central Bank
- Name: Royal Monetary Authority of Bhutan (RMA)
- Website: https://www.rma.org.bt/
- Role: Monetary policy, payment systems oversight
Major Banks (2024)
| Rank | Bank Name | Type | Digital Platform |
|---|---|---|---|
| 1 | Bank of Bhutan | State | BOB Mobile |
| 2 | Bhutan National Bank | State | BNB Mobile |
| 3 | Druk PNB | Private | DPNB Mobile |
| 4 | T Bank | Private | T Bank App |
| 5 | Bhutan Development Bank | State | BDBL Mobile |
Market Structure
- RMA: BIPS and QR infrastructure operator
- 23,315 merchants: Registered for QR
- Cash-lite goal: Government priority
- UPI adoption: First country globally
Payment infrastructure
National Payment Systems
| System | Operator | Type | Status |
|---|---|---|---|
| Bhutan QR | RMA | QR Standard | Active |
| BIPS | RMA | Instant payment | Active |
| iUPI Global QR | RMA/NPCI | Cross-border | Active |
BIPS (Bhutan Immediate Payment Service)
- RMA managed
- Bank interconnection
- Multiple channels:
- Internet banking
- Mobile apps
- ATMs
- Instant settlement
Payment Channel Volume (2024)
- Mobile banking: Highest volume
- Bhutan QR: 43.27% of volume
- E-wallet: 3.05% of volume
QR code standards
Bhutan QR
| Attribute | Value |
|---|---|
| Operator | RMA |
| Merchants | 23,315 |
| Share | 43.27% of volume |
| Standard | UPI-based |
Bhutan QR Features
- Second highest payment channel
- 43.27% transaction volume share
- Fuel stations, shops, markets
- RMA-initiated deployment
Merchant Distribution (2024)
- Thimphu: Highest merchants
- Sarpang: Second highest
- Paro: Third highest
- Gasa: Lowest registered
iUPI Global QR (Cross-Border)
| Attribute | Value |
|---|---|
| Partner | NPCI International |
| Launch | 2023 |
| First | Country to adopt UPI QR |
| Integration | RuPay + BHIM UPI |
Cross-Border Features
- First country with UPI QR standards
- Both issue and accept RuPay cards
- Second country (after Singapore) to accept BHIM UPI
- Indian tourist payments enabled
Mobile payment apps
| App | Provider | QR | Features |
|---|---|---|---|
| Bank of Bhutan | BOB | Yes | Full banking |
| BNB Mobile | BNB | Yes | Banking |
| E-wallets | Various | Yes | Payments |
Digital Payment Channels
- Mobile banking apps
- E-wallets
- iUPI Global QR codes
- Internet banking
RMA Cash-Lite Initiative
- Collaboration with Ministry of Finance
- Vehicle fueling via digital payment
- Daily transaction adoption
- Digital economy transition
Schemes
| Scheme | Type | Symbology | Adoption | Technical standard |
|---|---|---|---|---|
| Bhutan QR | National QR | UPI-based | 23,315 merchants | bhutan-qr |
| BIPS | Instant | RMA | Universal | — |
| iUPI Global | Cross-border | UPI | Active | — |
Sources
- RMA Official
- RMA - UPI Global QR Guidelines 2024
- RMA - Payment System
- BBS - Bhutan India QR Launch
- Kuensel - RMA Digital Payment Plans
- RMA - Annual Payment System Report 2024
- MarketScreener - Cross-border QR
- Outlook Money - BHIM UPI Bhutan
- Kuensel - Digital Banking Promotion
- Dziseldra - Cross-border QR Launch
Full country report
Schemes
Standards
Primary · 1
Mentioned · 2