Vietnam and South Korea Launch Cross-Border QR Payment Service to Boost Tourism and Trade
Vietnam and South Korea have officially launched a groundbreaking cross-border QR code payment service on April 23, 2026.
BIDV, NAPAS, KEB Hana Bank, and GLN International collaborated to enable seamless digital transactions between the two nations.
Historical Context and Rapid Development
The service stems from a cooperation agreement signed at the Vietnam–South Korea Economic Forum in August 2025.
System integration and infrastructure were completed in under a year, showcasing efficient bilateral tech collaboration.
Boosting Tourism and Economic Ties
In 2025, Vietnam welcomed over 21.2 million international visitors, with South Korea as the second-largest source at 4.3 million arrivals.
Meanwhile, around 550,000 Vietnamese traveled to South Korea, up 9% year-on-year, highlighting strong people-to-people exchanges.
South Korean visitors in Vietnam can now scan QR codes using their domestic banking apps and e-wallets at merchants nationwide.
NAPAS manages Vietnam's network via the VIETQRGlobal system, while GLN International links South Korean participants, with BIDV and KEB Hana Bank as clearing banks.
Future Expansion and Cashless Vision
Pham Anh Tuan from the State Bank of Vietnam emphasized promoting QR connectivity to enhance user convenience and support trade-tourism activities.
Nguyen Quang Minh of NAPAS stated that expanding cross-border QR payments is key to advancing payment infrastructure.
Representatives from Korean partners plan to extend cooperation into broader digital financial services.
This launch aligns with Vietnam's cashless push and regional trends, following similar services with China, promising reduced cash reliance and stronger economic bonds.
