Cross-border payments open up great opportunities for businesses and consumers in Vietnam and China

Deploying cross-border payment services via QR codes between Vietnam and China is the content of one of the 10 important cooperation documents between Vietnam and China that was exchanged at noon on October 13. Among them, there is a Memorandum of Understanding between the National Payment Corporation of Vietnam (NAPAS) and UnionPay International on deploying cross-border payment services via QR codes between Vietnam and China.

With the cooperation between NAPAS and UnionPay International, international payments will become easier, helping to expand the market and promote international tourism and shopping between the two countries.

The two Prime Ministers witnessed the signing of a Memorandum of Understanding between the National Payment Corporation of Vietnam (NAPAS) and UnionPay International on the implementation of cross-border payment services via QR codes between Vietnam and China. Internet.

The implementation of cross-border payment services via QR codes between Vietnam and China is an important step in promoting trade and economic cooperation between the two countries. This service is expected to bring many practical benefits to both businesses and consumers, while improving the payment experience during international transactions. Using QR codes allows users to make quick payments without having to use cash or credit cards. This reduces complicated procedures and saves time for both buyers and sellers. Cross-border payment services will encourage trading activities and trade exchanges between the two countries, thereby promoting economic growth. The transition to electronic payments via QR codes helps minimize risks related to cash, such as theft and loss. In the context of the 4.0 industrial revolution, the application of new technology in payments helps both Vietnam and China gradually modernize their economies and quickly adapt to global trends. The signing and implementation of these payment cooperation documents is also a testament to the increasingly close relationship between Vietnam and China, opening up more potential for cooperation in the future. The development of this payment service not only brings economic benefits but also creates favorable conditions for people of the two countries in cultural and social exchanges./.

Thanh Tung