Cross-border payment connection with China, Japan, Korea...

QRCode payment is not only developing strongly domestically but it is also used for cross-border payment. Using QR code scanning is currently being deployed in countries such as Thailand, Korea, Cambodia, Laos and will soon be deployed in China and Japan.

Scan QR codes across borders

Bilateral payment cooperation via QR codes between countries in the region brings convenience of payment in local currency to Vietnamese customers when traveling to cooperating countries, as well as tourists from these countries when coming to Vietnam. In 2024, the National Payment Corporation of Vietnam (NAPAS) expanded cross-border payments, continuing to promote the connection of cross-border payment services using QR codes with countries in the region. NAPAS has completed the expansion of the connection to deploy QR services between Vietnam and Thailand for 2 member organizations and piloted QR services between Vietnam and Laos for 6 member organizations.

Scanning QR codes to transfer and withdraw money is becoming more and more popular. PHOTO: NGOC THACH

Currently, when tourists come to Korea, NAPAS cardholders issued by banks and financial companies (Agribank, BIDV, MB, TPBank, Sacombank, LPBank, SHB, NamABank, ABBank, OCB, VIB, BVBank, WooriBank, VietBank, Bao Viet Bank, BacABank, VietABank, Co-opbank, SaigonBank, VRB, Mirae Assets) can pay at a network of more than 3.41 million payment acceptance units belonging to the BC Card Company network, including Korea's largest duty-free store chain - Shila Duty Free, 24/7 CU convenience store chain, Line Friends store chain and other small and medium-sized businesses.

In addition, NAPAS cards can also be used to withdraw money at the ATM system of Wooribank Korea under the network of BC Card Company, including more than 50,000 ATMs located at the convenience store chains CU, GS25, Ministop throughout Korea; more than 5,500 ATMs belonging to Wooribank Korea and especially, all ATMs located at subway stations from Line 1 to Line 4 in Seoul have accepted NAPAS cards. At the same time, NAPAS cardholders issued by banks (Agribank, VRB, SaigonBank, SeABank, ABBank, GPBank, HDBank) can withdraw money at the ATM systems of banks including NICE and CitiBank under the network of KFTC Company, Korea.

In Thailand, NAPAS cardholders issued by banks (Agribank, VRB, SaigonBank, SeABank, ABBank, GPBank, HDBank) can withdraw money at ATM systems of banks SCB, KTB, KBank and BBL belonging to the national switching network ITMX - Thailand. In Malaysia, NAPAS cardholders issued by banks (Agribank, SaigonBank, SeABank, ABBank, GPBank, HDBank) can withdraw money at ATM systems of banks Bank Muamalat, Maybank, RHB Bank, MBSB Bank belonging to the national switching network PayNet of Malaysia.

In Laos, NAPAS cardholders issued by banks (BIDV, Agribank, VRB, SaigonBank, SeABank, ABBank, GPBank, HDBank, VietABank) can withdraw money at LaoVietBank ATM system.

Coming soon in China, Japan...

In Vietnam, according to data from NAPAS, in 2024, the NAPAS system will process an average of more than 26 million transactions/day, an increase of 30.8% in quantity and 15.9% in transaction value compared to 2023. Of which, the NAPAS 247 fast money transfer service will increase by 34.7% in quantity and 16.4% in value, accounting for 93.5% of NAPAS's total services.

In addition, the payment method using VietQR code also continues to show outstanding growth by recording a 2.2-fold increase in the number of transactions and a 2.6-fold increase in transaction value compared to 2023. ATM withdrawal service via the NAPAS system in 2024 continues to have a sharp downward trend of up to 19.5% compared to the same period last year and accounts for only 2.4% of the total number of transactions of the entire system.

The above results show that the popularity of electronic payment methods is replacing cash in the daily lives of people and businesses. VietQR has truly become a daily payment method, contributing significantly to the strong growth rate of the electronic payment market in recent years as well as promoting people's cashless habits.

QR payment increases sharply. PHOTO: NHU QUYNH

"According to the 2025 plan, cross-border payments using QR codes will continue to be expanded by NAPAS to connect with countries such as China, Japan, Korea... towards the common goal of promoting the use of local currency in cross-border payments, promoting trade, investment, and tourism between Vietnam and countries in the ASEAN region," said a NAPAS representative.

According to NAPAS, in the face of the trend of Vietnam increasingly opening up to international integration and cooperating to connect cross-border payments with many countries, the implementation of VietQRPay aims to create synchronization in technical standards to connect and process payment transactions via QR code scanning between Vietnam and other countries. At the same time, increase the efficiency of implementing QR code scanning payment for foreign visitors when coming to Vietnam. In the plan to deploy international payment services using QR codes, the implementation of VietQRPay will be distinguished by the name VietQR Global to guide international visitors to the points accepting QR code payments in Vietnam, helping international visitors to easily make payment transactions using QR codes quickly and conveniently.

Source: https://thanhnien.vn/ket-noi-thanh-toan-xuyen-bien-gioi-voi-trung-quoc-nhat-ban-han-quoc-185241204161401633.htm