Vietnam and South Korea have launched cross-border QR payments that allow Korean users to pay merchants in Vietnam through participating e-wallets and banking apps.
The service was introduced by the Vietnam National Payment Corporation (NAPAS), GLN International, BIDV and Hana Bank, following a cooperation agreement signed at the Vietnam-Korea Economic Forum in August 2025.
The service allows more than 115 million users in the GLN International network, including Korean tourists and Koreans living in Vietnam, to scan VIETQRGlobal codes at hundreds of thousands of acceptance points nationwide.
Transactions are processed in real time, with direct settlement between the Korean won and Vietnamese dong supported by Hana Bank and BIDV.
The cross-border QR payments launch comes as South Korea remains one of Vietnam’s major tourism markets.
The service is expected to reduce reliance on cash and currency exchange for Korean visitors.
It could also help Vietnamese merchants and businesses serve Korean tourists without additional payment infrastructure.
NAPAS operates Vietnam’s national retail payment infrastructure, while GLN International, part of Hana Financial Group, connects Korean banks and payment applications to overseas payment networks.
Nguyen Quang Minh, General Director of NAPAS, said,
“The cross-border QR payment service between Vietnam and South Korea is a concrete step in the financial integration process, contributing to promoting tourism, trade, and enhancing the competitiveness of Vietnam’s service economy.
As the national retail payment infrastructure, NAPAS identifies expanding cross-border QR payment connectivity as a key task to develop a modern, secure payment infrastructure serving citizens and businesses. In the future, NAPAS will continue to expand QR payment connectivity with many countries, aiming to build a modern and secure cross-border payment ecosystem.”
The parties also plan to develop two-way payment connectivity to support Vietnamese users making payments in South Korea.
This article first appeared on Fintech News Singapore.
Featured image source: NAPAS