Vietnam Set To Join UPI Network
India Expands UPI Footprint: Vietnam Next in Line After Dubai- India is continuing to globally gain from its digital payment revolution, with the National Payments Corporation of India (NPCI) now working towards integrating UPI with Vietnam’s fast payment system. Following the enablement in countries like Dubai, this move signifies one more feather in the cap of India’s growing financial influence internationally.
India is increasingly being seen as a global fintech leader as it steadily pushes the digital payment ecosystem beyond the borders. On the other hand, the government has been on an aggressive spree to reduce financial friction for Indians travelling and living abroad. UPI enablement has worked fairly well, given that tourist-heavy countries used to face exchange and payment issues.
With Indian tourism rising globally, currency dependency often pinched. It is already enabled in Dubai and other locations where a large number of Indian nationals travel frequently.
With Vietnam now in the mix, this is a clear “step up” in India’s global payment strategy, making cross-border payments far easier for both travellers and businesses.
According to latest updates, UPI QR payments expected to expand across Vietnam and Southeast Asia. So the goal is to direct scan-and-pay system for Indian travelers. This will Reduce dependency on cash and currency exchange
Indian tourists can use UPI-style QR payments in some areas such as Danang through the fintech platform 9Pay. Tourists can directly scan VietQR codes using Indian apps like Google Pay, PhonePe, and Paytm to make payments easier and avoid physical cash or currency exchange when travelling.
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