JABAR EKSPRES – Vietnam has officially joined the Regional Payment Connectivity (RPC) cooperation in the ASEAN region.
The State Bank of Vietnam (SBV) signed an amendment to the Memorandum of Understanding on Regional Payment Connectivity Cooperation on Friday to officially join Bank Indonesia (BI), Bank Negara Malaysia (BNM), Bangko Sentral ng Pilipinas (BSP), Monetary Authority of Singapore (MAS) and Bank of Thailand (BOT) in the RPC.
“SBV has formally expressed its interest in joining the RPC, and today we are pleased that SBV signed the MoU to symbolically mark participation in the RPC initiative,” BI Governor Perry Warjiyo said here on Friday (8/25).
Deputy Governor Pham Thanh Ha, who was present representing SBV Governor Nguyen Thi Hong at the MoU signing ceremony, was honored that the SBV could join as a new participant of the regional payment connectivity cooperation.
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SBV looks forward to close coordination between all parties to promote faster, cheaper, more transparent and inclusive cross-border payments.
The regional payment connectivity cooperation is primarily aimed at strengthening and developing a faster, cheaper, more transparent and inclusive cross-border payment system.
The cooperation will also cover various other forms of cooperation, such as QR connectivity and fast payments between countries.
That way, it is hoped that transactions between countries can be carried out more easily, conveniently and affordably so as to support post-pandemic economic recovery and facilitate the economic activities of the ASEAN community.
The expansion of cooperation is also expected to benefit MSMEs, which are one of the drivers of national economic growth.
In addition to providing benefits in the regional landscape, the BI Governor believes that regional payment connectivity cooperation also has the potential to open market access for Indonesian business actors to the region.
Going forward, strengthening payment system connectivity is expected to provide incentives to increase trade and remittances in the region.
