Efforts made to promote digital payment integration in ASEAN

Efforts made to promote digital payment integration in ASEAN

Illustrative photo (Photo: ddnews.gov.in)

He said following the successful real-time payments linkage between India and Singapore, similar initiatives are being explored with Malaysia and other ASEAN countries.

Speaking with Indian-based ANI News, the official said that India understands ASEAN and has been helping in the bloc.

He said there is also a proposal this year on digitalisation put up by India. When adopted, it will further cement this ASEAN-India relationship.

He said ASEAN countries have different digital payment systems and are making efforts to integrate them.

If ASEAN can achieve an integrated payment system, it will become easier for tourists who come from India or those who go there as they can use an app for payment, Bouasisavath said.

Regarding economic partnerships, ASEAN remains hopeful that India will reconsider its position on the Regional Comprehensive Economic Partnership (RCEP), Bouasisavath said.

This year marks a decade of India’s "Act East" policy which places ASEAN at its core. India has reiterated its full support for ASEAN Centrality, ASEAN Outlook on the Indo-Pacific (AOIP), and Laos’s ASEAN Chairmanship’s priorities and deliverables under their theme “ASEAN: Enhancing Connectivity and Resilience”./.

VNA