India-Vietnam partnership to expand QR cross-border payments
The Reserve Bank of India (RBI) and the State Bank of Vietnam (SBV) signed a Memorandum of Understanding (MoU) to promote cooperation in financial innovation and digital payments, including information sharing, regulatory coordination and payment system connectivity for cross-border QR code-based merchant payments.
The MoU marks a forward-looking and substantive step towards strengthening bilateral cooperation in financial innovation and digital payments, with the potential to enhance cross-border payment linkages and position India as a major fintech hub.
