Việt Nam, South Korea launch cross-border QR payment service

Việt Nam, South Korea launch cross-border QR payment service

Việt Nam has rolled out a cross-border QR payment service with South Korea, marking a new step in financial connectivity between the two countries and supporting growing tourism and trade flows.

The launch of the Việt Nam–South Korea cross-border QR payment service held in Hà Nội on Thursday. — Photo courtesy of NAPAS

The service was launched by National Payment Corporation of Vietnam (NAPAS) in cooperation with GLN International, with settlement banks Bank for Investment and Development of Vietnam and Hana Bank in Hà Nội on Thursday.

The initiative follows a cooperation agreement signed at the Vietnam–Korea Business Forum in August 2025 and has been implemented in less than a year.

Under the scheme, South 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 Việt Nam. Transactions are processed in real time and settled directly between the Korean won (KRW) and Vietnamese đồng (VND).

Deputy Governor of the State Bank of Vietnam Phạm Tiến Dũng said the launch reflected deeper financial integration in the region, as cross-border digital payments become more widespread.

Nguyễn 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 Việt Nam’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.

Lê Ngọc Lâm, CEO of BIDV, said the bank had invested in infrastructure to ensure seamless transactions. 

“We want Korean visitors to have a payment experience in Việt Nam 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.

South Korea has remained one of Việt Nam’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 South Korea, moving towards a more integrated regional digital payment ecosystem. 

Bizhub