The following is the translation of the 'Bahasa' text to 'English' while preserving any HTML tags: "QRIS service has expanded to ASEAN countries."
"Dream - The State Bank of Vietnam (SBV) agrees to join in the payment connectivity cooperation in the ASEAN region together with Bank Indonesia (BI). With this agreement, it means that QRIS services can now be used in Vietnam."
SBV signed the amendment to the Memorandum of Understanding (MoU) during the 10th ASEAN Central Bank Governors and Finance Ministers' Meeting on August 25, 2023 in Jakarta. This cooperation is an effort to expand the Regional Payment Connectivity Cooperation MoU signed by BI, BNM, BSP, MAS, and BOT during the Leaders Summit event on November 14, 2022 in Bali.
Expansion of Connectivity Cooperation in the Payment System of this Region is also a follow-up to the mandate of the 9th ASEAN Central Bank Governors and Finance Ministers' Meeting, as well as one of the priority achievements of Indonesia's Chairmanship in ASEAN in 2023.
Cooperation on Regional Payment System Connectivity is mainly aimed at strengthening and developing faster, cheaper, more transparent, and inclusive cross-border payment systems.
"NK cooperation will also encompass various forms of cooperation, including QR connectivity and fast payment between countries, so that transactions are expected to be easier, more convenient, and affordable. This cooperation also has the potential to open market access for Indonesian business players to the region," Bank Indonesia wrote in its statement, quoted on Friday, August 25, 2023. With Vietnam joining the Regional Payment System Connectivity Cooperation, the number of participants increases from five (5) countries to six (6) countries."
"Expansion is also expected to provide benefits for MSMEs, which are one of the drivers of national economic growth," said Bank Indonesia. This collaboration is expected to support post-pandemic economic recovery and facilitate the ASEAN community's economy, including the tourism sector and other services."
Moving forward, strengthening connectivity of the payment system is expected to provide incentives for increasing trade and remittances in the region. The expansion of cooperation in payment system connectivity will continue to be strengthened and expanded with other strategic partner countries in the region.
Deputy Governor Pham Thanh Ha, who attended representing Governor SBV, Nguyen Thi Hong, at the signing ceremony of NK, feels honored that SBV can join as a new participant of the NK Regional Payment Connectivity Cooperation.
SBV is looking forward to close coordination among all parties to promote faster, cheaper, transparent, and inclusive cross-border payments. NK is a form of solidarity and marks the starting point for strengthening regional economic integration, making ASEAN a global leader in payment connectivity.
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