Hanoi (VNS/VNA) - Vietnam has rolled out a cross-border QR payment service with the Republic of Korea (RoK), marking a new step in financial connectivity between the two countries and supporting growing tourism and trade flows.
The service was launched in Hanoi on April 23 by National Payment Corporation of Vietnam (NAPAS) in cooperation with GLN International, with Bank for Investment and Development of Vietnam and Hana Bank as settlement banks.
The initiative follows a cooperation agreement signed at the Vietnam–RoK Business Forum in August 2025 and has been implemented in less than a year.
Under the scheme, Korean users can scan VIETQRGlobal codes using banking apps and e-wallets within GLN’s network to pay at hundreds of thousands of merchants across Vietnam. Transactions are processed in real time and settled directly between the Korean won (KRW) and Vietnamese dong (VND).
Deputy Governor of the State Bank of Vietnam Pham Tien Dung said the launch reflected deeper financial integration in the region, as cross-border digital payments become more widespread.
Nguyen Quang Minh, CEO of NAPAS, noted: “This service is a concrete step in financial integration, helping to promote tourism and trade while enhancing the competitiveness of Vietnam’s service economy. Expanding cross-border QR connections remains a priority for us in building a modern, secure payment infrastructure.”
GLN International CEO Lee Suk said the initiative would strengthen economic and cultural exchanges between the two countries.
“We expect this cooperation to bring Vietnamese users closer to QR payment networks not only in Korea, but also in other Asian markets, such as Japan, Thailand, Laos and the Philippines,” he commented.
Le Ngoc Lam, CEO of BIDV, said the bank had invested in infrastructure to ensure seamless transactions.
“We want Korean visitors to have a payment experience in Vietnam similar to what they enjoy at home, while helping local businesses improve efficiency and boost revenues,” he said.
Hana Bank CEO Lee Ho Sung said the partnership would go beyond payments. “We will continue to deepen cooperation with our partners to develop a broader range of digital financial services in the future,” he said.
The RoK has remained one of Vietnam’s largest sources of international visitors in recent years. The new service is expected to reduce reliance on cash and simplify payments for tourists, while enabling Vietnamese merchants to better tap into the growing Korean customer base.
The partners said they plan to expand the system to support payments for Vietnamese users in the RoK, moving towards a more integrated regional digital payment ecosystem. /.
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