Reducing costs, expanding opportunities
Ngo Xuan Bach, Chairman of City House Viet Nam Company, said international tourists currently rely mainly on cards and cash for payments. However, these methods are not always convenient for accommodation establishments. Handling cash requires staff to process transactions directly, count money, convert currencies, give change and reconcile payments, while card payments incur transaction fees and some cards may not be accepted.
Meanwhile, QR codes have become widely used as they enable businesses to receive payments remotely, reduce the need for staff to handle transactions directly and generate additional revenue. At his company, all domestic tourists now use QR code payments. Cross-border QR payments therefore represent more than just another payment method; they could transform how businesses operate and serve international visitors. To make effective use of this technology, however, businesses need to adjust their operating procedures, adopt application programming interfaces (APIs) for automatic payment reconciliation and help employees become familiar with the technology.
In practice, international payment connectivity is particularly important. If payment methods are inconvenient, tourists may find it difficult to spend money even when they have sufficient funds. According to Pham Anh Tuan, Director of the Payment Department under the State Bank of Viet Nam, VietQRGlobal is now a component of Viet Nam’s digital payment system, serving as a recognisable brand that helps international visitors identify locations accepting cross-border payments.
Nevertheless, while more than 2.5 million merchants nationwide accept domestic payments, only around 154,000 currently accept VietQRGlobal. Bridging this gap will require greater efforts to raise awareness, provide guidance and encourage merchant participation, thereby enhancing the effectiveness of bilateral payment connectivity projects.
From an infrastructure perspective, Nguyen Dang Hung, Deputy General Director of the National Payment Corporation of Viet Nam (NAPAS), said that, as the operator of the national retail payment infrastructure, NAPAS has worked with banks, payment intermediaries and international partners to develop the VietQRPay and VietQRGlobal ecosystems, helping promote tourism, trade and economic integration. To date, 45 banks and payment intermediaries have participated in implementing VietQRPay. Meanwhile, VietQRGlobal has established connections with six countries, namely Thailand, Laos, Cambodia, China, Singapore and the Republic of Korea, and continues to expand into other markets.
Expanding payment connectivity gives Vietnamese people more opportunities to use familiar payment methods when travelling abroad, while making it easier for international visitors to spend money in Viet Nam.
Ngo Trung Dung, Deputy Sales Director of KiotViet Technology Joint Stock Company, noted that payment is the final step in completing an order. Even after customers have selected a product and agreed to purchase it, a transaction may still fail if a convenient payment method is unavailable. Therefore, QR code payments need to be integrated with sales management systems, with payment amounts linked to individual orders so that customers do not have to enter the amount manually, transaction statuses are updated automatically and end-of-day reconciliation is simplified. This approach helps household businesses capitalise on spending by international customers while integrating sales and payment processes.
Developing an interconnected payment network
Expanding cross-border QR payments involves more than connecting payment methods. It also requires interoperability between financial infrastructure, technology and service sectors.
According to Bui Nguyen Anh Tuan, Deputy Director of the Agency for Domestic Market Management and Development under the Ministry of Industry and Trade, cross-border payments should be regarded as an important form of “soft infrastructure” for commerce. Transactions can only proceed seamlessly when goods, information, logistics and payments are interconnected. If payment is inconvenient, a transaction may fail at the final stage. Therefore, the role of QR codes should not end once a payment is completed. Behind each transaction are orders, invoices, inventory management, customer loyalty programmes, promotions and data for business management. When these components are interconnected, businesses can digitalise not only transactions but also their wider retail operations.
Many commercial banks are currently involved in developing payment connectivity networks. BIDV said it is expanding its network through a three-pronged approach: working with NAPAS to establish connections with markets that generate large numbers of visitors to Viet Nam; expanding payment acceptance points throughout the tourist journey, from airports and transport to accommodation and shopping; and encouraging actual transactions.
Priority locations include Ha Noi, Ho Chi Minh City, Da Nang, Khanh Hoa and Phu Quoc in An Giang Province. VietinBank is also working with retail chains, tourism centres and business partners to develop its services. Meanwhile, Agribank planned to launch VietQRGlobal in October 2026, focusing on bringing the service to agricultural and rural customers while helping household businesses, craft villages and local tourist destinations reach international visitors.
However, cross-border payments require not only an expanded acceptance network but also reliable system connectivity, regulatory compliance and data security, as transactions involving multiple countries bring more complex security risks.
As cross-border payments develop, financial flows and transaction data must pass through numerous banks, intermediaries and payment systems operating in different countries. This creates a complex interconnected system in which a problem affecting just one component could lead to serious risks. Differences in standards between countries add further challenges.
Ngo Tuan Anh, Deputy Head of the Data Security and Personal Data Protection Division under the Viet Nam National Cybersecurity Association, warned that QR codes at payment points could be replaced by fraudulent codes to steal money, while users’ devices and other systems in the payment chain could also be exposed to risks. Users should therefore verify the recipient’s name before making payments and avoid installing applications from unknown sources. Organisations processing transaction data must also pay attention to cross-border transfers of personal data and comply with relevant procedures and protection measures.
