Vietnam officially joined ASEAN’s Regional Payment Connectivity initiative, which aims to enhance cross-border payment systems in the region. The RPC initiative to boost cross-border payments was agreed to during the 2022 G20 Summit.
On August 25, 2023, Vietnam, through its central bank, the State Bank of Vietnam (SBV), officially joined the Regional Payment Connectivity (RPC) initiative. The RPC initiative was initiated by the central banks of Indonesia, Singapore, Thailand, Malaysia, and the Philippines during the G20 Summit in 2022 to develop and enhance inclusive cross-border payment systems in Southeast Asia, such as using QR-code payments.
The partnership aims to support the post-pandemic recovery of countries in the region with a specific aim to benefit micro, small, and medium-sized businesses (MSMEs). MSMEs are the dominant form of…
