S.Korean tourists can now pay via QR codes across Vietnam

The Vietnam–South Korea cross-border QR payment service was officially launched in Hanoi on Thursday, marking a new step in bilateral financial connectivity aimed at boosting tourism, trade, and cashless transactions.

Speaking at the launch ceremony, Pham Anh Tuan, head of the Payment Department under the State Bank of Vietnam, said the central bank has been actively promoting QR based retail payment connectivity between the two countries in recent years.

He said the initiative is designed to improve convenience for users while supporting the growth of tourism and commercial exchanges between Vietnam and South Korea.

“From today, South Korean tourists can shop and use services in Vietnam more easily. In the coming period, the parties will work to complete the reverse connection so Vietnamese tourists can also use QR payments conveniently in South Korea,” Tuan said.

He underscored that the QR payment linkage allows tourists from both countries to transact in their local currencies, helping promote cashless payments and improve convenience.

Nguyen Quang Minh, CEO of the National Payment Corporation of Vietnam (NAPAS), said the service enables more than 115 million bank and e-wallet accounts from South Korea to scan VIETQR Global codes at hundreds of thousands of acceptance points in Vietnam.

Transactions are processed in real time, providing a fast and secure experience similar to domestic payments in South Korea.

The service also allows direct settlement between the South Korean won and the Vietnamese dong through the infrastructure of the Bank for Investment and Development of Vietnam (BIDV) and South Korea’s Hana Bank.

“This direct local currency settlement mechanism makes transactions faster, reduces costs, and lowers dependence on intermediary currencies,” Minh said.

Le Ngoc Lam, CEO of BIDV, said the bank plays a key role in settlement, ensuring QR transactions between Vietnam and South Korea are processed quickly, safely, and accurately.

BIDV is also expanding its acceptance network to increase cross border QR payment points across tourism, retail and service sectors, ranging from small household businesses to large enterprises.

Lee Suk, CEO of GLN International, a South Korea-based fintech company connecting financial institutions to enable cross border QR payments, said the service is expected to strengthen economic and cultural exchanges between the two countries while expanding QR payment accessibility for Vietnamese users in other Asian markets.

Lee Ho Sung, CEO of Hana Bank, said the bank would continue working with BIDV and NAPAS to develop more digital financial services beyond traditional payment functions.

In the coming period, NAPAS, GLN International and other partners will complete two-way payment connectivity, allowing Vietnamese users to make QR payments in South Korea while contributing to the development of an integrated regional and global digital financial ecosystem.

In 2025, Vietnam welcomed more than 21.2 million international arrivals, up 20 percent year on year.

South Korea remained the second-largest source market with around 4.3 million visitors, accounting for 20 percent of total arrivals.

On the other hand, around 550,000 Vietnamese traveled to South Korea, up nine percent compared with 2024.