Cross-border QR connection: Convenient for tourists, expanding opportunities for businesses
Vietnam National Payment Joint Stock Company (NAPAS) in coordination with Ant International and Vietnam Foreign Trade Joint Stock Commercial Bank (Vietcombank) announced the expansion of QR code payment services between Vietnam and China. The event marks an important step in the development of cross-border digital payments, in the context of the increasing number of Chinese tourists to Vietnam.
Attending the event were Deputy Governors of the State Bank of Vietnam including Mr. Pham Tien Dung and Mr. Pham Quang Dung, along with the Board of Directors of NAPAS, Vietcombank and Ant International.
Accordingly, Chinese tourists can use the Alipay e-wallet to scan VIETQRGlobal code and pay at a series of acceptance points in the NAPAS network nationwide such as retail stores, restaurants, hotels, and tourist destinations.
The system operates through infrastructure connection between NAPAS and Ant International, along with Vietcombank's settlement mechanism, allowing direct transactions between the Renminbi and the Vietnamese Dong. This solution helps shorten the payment process, increase safety and convenience.
In the context that China is one of Vietnam's largest international tourist markets, connecting payments contributes to improving the tourist experience, while supporting Vietnamese businesses to access international tourists more effectively.
Mr. Nguyen Quang Minh, General Director of NAPAS, said that the cooperation with Ant International is an important milestone when the national payment infrastructure is directly connected to the ecosystem with more than 1 billion users, opening up new growth opportunities for Vietnamese businesses.
Meanwhile, Mr. Le Quang Vinh, General Director of Vietcombank, said that cross-border QRs will become a popular international payment trend, helping Chinese users have a "home-like" experience when paying in Vietnam.
On the international partner side, Mr. Douglas Feagin, President of Ant International emphasized: this cooperation contributes to promoting the digital economy and supporting small and medium-sized enterprises, while strengthening trade connections between the two countries.
Towards two-way payment, expanding the area
In the near future, NAPAS and Ant International will soon complete the deployment of Vietnamese customer payment directions to China, allowing Vietnamese users to use the payment application of domestic banks, scan Alipay's QR code to pay. When the two-way connection is completed, the service will create a strong driving force to promote tourism and trade growth between the two countries.
NAPAS is also continuing to expand cooperation with partners inside and outside the region, while strengthening connections with domestic banks, payment intermediaries and businesses to expand the VIETQRGlobal acceptance network.
To date, NAPAS has completed bilateral payment connection via QR code with Thailand, Laos, Cambodia, China, and is continuing to expand to other markets in the region.
