BIDV, NAPAS enable Vietnam–Korea QR payment link

By Parth Prabhudesai

Bank for Investment and Development of Vietnam, National Payment Corporation of Vietnam, KEB Hana Bank, and GLN International have jointly launched a cross-border QR code payment service linking Vietnam and South Korea, aimed at expanding digital payments and supporting cashless transactions.

The initiative follows a cooperation agreement signed during the Vietnam–South Korea Economic Forum in August 2025. According to BIDV, system integration and infrastructure development were completed in under a year, enabling a seamless rollout of the service.

The platform allows South Korean visitors and residents in Vietnam to use their domestic banking apps and e-wallets to scan QR codes at merchants across the country. Transactions are processed through familiar interfaces, improving convenience and reducing reliance on cash. In Vietnam, NAPAS will operate the system via the VIETQRGlobal network, while GLN International will connect South Korean banks and payment applications. BIDV and Hana Bank will act as clearing banks, facilitating transaction settlement between the two markets.

Pham Anh Tuan, Director of the Payment Department at the State Bank of Vietnam, said: “This initiative promotes bilateral QR-based retail payment connectivity, enhances user convenience, and supports trade and tourism activities between Vietnam and South Korea.”

Vietnam’s growing tourism flows further support the initiative. The country recorded over 21.2 million international visitors in 2025, a 20% year-on-year increase. South Korea accounted for approximately 4.3 million arrivals, making it the second-largest source of tourists. Meanwhile, outbound travel from Vietnam to South Korea reached around 550,000, up 9%.

Nguyen Quang Minh, General Director of NAPAS, said expanding cross-border QR payments remains a strategic priority. Representatives from Hana Bank and GLN International added that the partnership could expand into broader digital financial services beyond payments in the future.