Vietnam and South Korea roll out cross-border QR payment service

The service was launched on April 23 in collaboration with Vietnam National Payment Corporation (NAPAS), KEB Hana Bank, and GLN International. The move aims to promote cross-border digital payments and contribute to a modern, secure, and sustainable financial ecosystem.

Speaking at the ceremony, Pham Anh Tuan, director of the Payment Department under State Bank of Vietnam (SBV), stated, "The SBV has actively promoted the implementation of bilateral retail payment connectivity via QR code between Vietnam and South Korea, aiming to provide payment convenience for customers and contribute to strengthening trade and tourism between the two nations."

In 2025, Vietnam welcomed over 21.2 million international visitors, a 20 per cent increase compared to 2024. Among these, South Korea was the second-largest source market for visitors to Vietnam, with approximately 4.3 million visitors, accounting for 20 per cent of total international arrivals. At the same time, the number of tourists traveling from Vietnam to South Korea is reported to have grown steadily, reaching approximately 550,000 in 2025 (a 9 per cent increase compared to 2024).

“With these impressive figures, the cross-border QR code payment connectivity between Vietnam and South Korea promises to bring significant benefits in local currency payments for South Korean tourists visiting Vietnam as well as Vietnamese tourists traveling to South Korea, contributing to the goal of promoting cashless payments in both countries,” Tuan added.

The QR payment service allows South Korean tourists and South Koreans living and working in Vietnam to use banking apps or e-wallets familiar to them in South Korea to make QR code payments at the network of hundreds of thousands of VIETQRGlobal acceptance points nationwide, delivering a convenient, fast, and seamless payment experience just as if they were transacting in South Korea.

A key highlight of the service is the close collaboration between financial institutions–banks and national payment infrastructures–of both countries. In Vietnam, NAPAS, the operator of the national retail payment infrastructure, connects and operates the payment network via the VIETQRGlobal code. In South Korea, GLN International, a global financial platform within the Hana Financial Group ecosystem, serves as the hub connecting to South Korean banks and customer payment applications.

As key clearing banks in their respective countries, BIDV and Hana Bank have joined forces to build cross-border clearing and settlement infrastructure, helping to optimise processes across their nationwide payment networks.

Le Ngoc Lam, member of the Board of Directors and CEO of BIDV, said, "As the settlement bank, BIDV serves as a financial bridge, ensuring that QR payment transactions between the two markets are processed quickly, securely, and accurately. The bank is committed to providing modern payment infrastructure that meets international standards, delivering a seamless and reliable experience for customers as well as partners within the digital payment ecosystem."

In the same vein, Lee Ho Sung, CEO of Hana Bank, said, “We will not stop at the payment sector; in the coming period, we will continue to strengthen our close cooperation with BIDV and NAPAS, aiming to develop a wider range of digital financial services that go beyond the scope of traditional payments.”

The Vietnam-South Korea cross-border QR code payment service was launched based on a cooperation agreement signed at the Vietnam-South Korea Economic Forum last August, witnessed by high-ranking leaders from both nations. In less than a year, the parties completed system integration, integrated payment and settlement infrastructure, and officially launched the service.

More than just a technological solution, the Vietnam-South Korea cross-border QR payment service represents a significant step forward in the regional financial integration process, helping to boost trade and tourism flows between the two nations while advancing the SBV’s strategy for cashless payment development.

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