Status
Operating at scale
If a RTPS exists
Yes
Vision: PSP interoperability
Yes
Name (Payment)
BIPS (Bhutan Instant Payment System)/ Bhutan QR
URL (Payment)
https://www.rma.org.bt/bank/paymentsystem.jsp
Region
Asia
# of participants
2023- 6 financial institutions
AML law
No
Bank participation in network
Yes
Centralised fraud management system?
Unknown
Consumer protection law
Yes
Governor
Central bank/ Financial regulator
Non-bank participation in network
No
Notes
Limited to bank-based accounts. Funded by Indian government, interoprable with UPI.
Offline transactions
Unknown
Operator
Central bankBanking association
QR-based transactions
Yes
Reporting forum/ website/ form
Unknown
Rules: data handling rules for PSPs, users
Unknown
Rules: data leak notifications
Unknown
Rules: participation conditions
Unknown
Rules: recourse mechanism
Unknown
Rules: transaction recall
Unknown
Settlement systems
Unknown
Transaction cost
Unknown
Transaction types
P2P
P2M
B2B
Value (Year-USD)
2023- 1.07 B
Volume (Year- Volume)
2023- 99.52 M