India-Vietnam to Link Digital Payment Systems for Instant Cross-Border Transfers

Prime Minister Narendra Modi and Vietnamese President To Lam have agreed to link India’s UPI digital payments platform with Vietnam’s Fast Payment System to enable seamless cross-border digital transactions. This decision was announced during high-level bilateral talks held at Hyderabad House in New Delhi on Wednesday, May 6, 2026. The initiative aims to expand fintech cooperation and facilitate instant transfers between the two nations. During the discussions, both leaders signed a series of agreements across multiple sectors, including digital technology, cultural exchange, health regulation, education, tourism, and public-sector collaboration. Prime Minister Modi highlighted plans for close collaboration on critical minerals, rare earth elements, and energy cooperation, areas central to both countries’ strategic and industrial ambitions. He further stressed that reinforcing defense and security cooperation would contribute to a rules-based regional order promoting peace and stability. Earlier in the day, President To Lam received a ceremonial welcome at Rashtrapati Bhavan, where he was greeted by Indian President Droupadi Murmu and Prime Minister Modi. The ceremony underscored the growing strategic convergence between India and Vietnam in the Indo-Pacific region. According to Indian Foreign Ministry spokesperson Randhir Jaiswal, the leaders exchanged views on advancing their multifaceted, comprehensive strategic partnership. Bilateral trade between the two nations has doubled to $16 billion over the last decade. Additionally, a Memorandum of Understanding was signed to ensure easier access for Indian medicines and smoother exports of agricultural, fisheries, and animal products. The Prime Minister also announced a plan to strengthen financial integration by enhancing cooperation between the central banks of both countries.