<?php
 
$string = "txn_status=0|txn_msg=success|txn_err_msg=NA|clnt_txn_ref=969239|tpsl_bank_cd=470|tpsl_txn_id=192630337|txn_amt=1.00|clnt_rqst_meta={itc:NIC~TXN0001~122333~rt14154~8 mar 2014~Payment~forpayment}{custname:test}|tpsl_txn_time=26-12-2015 15:56:20|tpsl_rfnd_id=NA|bal_amt=NA|rqst_token=hdfs-df-jkfhskjfhsjkd|hash=jhdsfs54367jhf";
$array = preg_split("/[|=]/", $string);
$output = [];
 
for ($i=0; $i<count($array); $i++) {
	$output[$array[$i]] = $array[++$i];
}
 
echo json_encode($output, JSON_PRETTY_PRINT);

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