Beyond offering residents and travellers a convenient way to pay, the service strengthens digital payment connectivity, supports trade and tourism growth, and advances digital economic integration both bilaterally and across ASEAN.
Driving cashless convenience
On July 2, the National Payment Corporation of Vietnam (NAPAS), in partnership with Singapore-based Liquid Group and Viet Nam Joint Stock Commercial Bank for Industry and Trade (VietinBank), officially introduced a cross-border QR payment service linking Viet Nam and Singapore.
Users of payment applications within Singapore’s participating ecosystem can now scan VietQRGlobal codes to pay directly at merchants in Viet Nam.
The launch comes amid deepening Viet Nam–Singapore ties, following the upgrade of relations to a Comprehensive Strategic Partnership in March 2025. Tourism, alongside trade and investment, has emerged as a fast-growing sector, fuelling demand for modern, secure and convenient payment options.
In the first five months of 2026, Viet Nam welcomed 10.6 million international arrivals, up 14.9% year-on-year—the highest figure in recent years. Singapore was among the fastest-growing markets, with more than 178,000 visitors, a 28.5% increase compared with the same period in 2025. Meanwhile, Singapore received over 123,000 Vietnamese visitors during the same timeframe.
“These are not just numbers. Singapore is a special market because Singaporean visitors are among the highest-spending groups in ASEAN,” noted Pham Anh Tuan, Director General of the Payment Department at the State Bank of Viet Nam.
A survey by Changi Airport Group found that three in five Singaporeans have visited Viet Nam, with 95% keen to return. This group also shows high average spending and a strong preference for cashless payments. The new QR connectivity is therefore expected to deliver substantial local-currency convenience for travellers in both directions, reinforcing the push towards cashless economies.
Transactions are processed in real time, with automatic conversion between the Singapore dollar (SGD) and Vietnamese dong (VND). This enables quick payments at shops, restaurants, hotels and retail outlets nationwide—without cash exchange or reliance on traditional methods.
Powered by NAPAS and Liquid Group’s infrastructure, transactions are processed in real time, with automatic conversion between the Singapore dollar (SGD) and Vietnamese dong (VND). This enables quick payments at shops, restaurants, hotels and retail outlets nationwide—without cash exchange or reliance on traditional methods.
Initially, the service is expected to reach around 5 million users through Liquid Group’s partner network in Singapore. As the ecosystem expands, adoption is set to grow, further embedding cross-border QR payments between the two countries.
Speaking at the launch, Nguyen Quang Hung, Chairman of NAPAS, stressed that the deployment of cross-border QR payments between Viet Nam and Singapore marks an important milestone in our roadmap to expand payment connectivity across the region.
Built on Viet Nam’s national retail payment infrastructure and the VietQR standard, NAPAS plans to continue working with domestic and international partners to broaden the ecosystem, supporting tourism, trade and the digital economy in line with government and central bank priorities.
Expanding the payment ecosystem
According to NAPAS, linking QR payments between Viet Nam and Singapore not only enhances the experience for Singaporean visitors but also opens new opportunities for merchants and businesses in retail, services and tourism to reach international customers through a secure, familiar payment method.
Collaboration with Liquid Group and VietinBank extends Viet Nam’s payment infrastructure connectivity across the region, providing a foundation for residents and businesses—particularly small enterprises—to access international payment services at reasonable cost.
The successful connection with Singapore expands NAPAS’s cross-border QR payment network to its sixth country and fourth ASEAN market. This achievement reflects close coordination among payment institutions and banks under the guidance of both governments and central banks.
As Viet Nam’s national retail payment infrastructure provider, NAPAS said it will continue investing in modern systems that meet international standards, laying the groundwork for effective cross-border services with banks, intermediaries and global partners.
The successful connection with Singapore expands NAPAS’s cross-border QR payment network to its sixth country and fourth ASEAN market. This achievement reflects close coordination among payment institutions and banks under the guidance of both governments and central banks.
Liquid Group CEO Jeremy Tan stated: “We aim to build a simple, interoperable and trusted cross-border payment ecosystem, enabling travellers to pay abroad using familiar applications, while helping businesses serve international visitors without added complexity.”
Meanwhile, VietinBank Chairman Tran Minh Binh highlighted the bank’s extensive preparations: “We are committed to operating the service stably, seamlessly and with absolute safety. At the same time, VietinBank will continue to enhance service quality and expand connections with other key international markets to create a smart, comprehensive cross-border payment ecosystem.”
Under the cooperation roadmap, NAPAS and its partners plan to launch payment flows from Viet Nam to Singapore later in 2026, completing a two-way ecosystem to meet the growing needs of people and businesses in both countries.
