The announcement was made on 23 April in Hanoi, with the attendance of Mr. Nguyen Trung Khanh, Chairman of the Vietnam National Authority of Tourism. The initiative is led by National Payment Services (NAPAS), in collaboration with Bank for Investment and Development of Vietnam, Hana Bank and GLN International.

Leaders and delegates of both sides taking souvenir photo (Photo: TITC)

Speaking at the event, BIDV Chief Executive Le Ngoc Lam described the launch as a “milestone” in bilateral cooperation, underscoring a shared commitment to digital transformation and the expansion of cashless payments across the region. He noted that the system is designed to provide South Korean visitors in Vietnam with a seamless and familiar payment experience, comparable to using services at home.

The service allows users of Korean e-wallets and banking applications within the GLN network to scan VietQRGlobal codes at hundreds of thousands of merchants across Vietnam. Transactions are processed in real time, with direct settlement between the South Korean won (KRW) and Vietnamese dong (VND) via the infrastructure of Hana Bank and BIDV.

According to Mr. Nguyen Quang Minh, the initiative represents a concrete step in financial integration, supporting not only tourism but also trade and the broader service economy. As Vietnam’s national retail payment infrastructure provider, NAPAS has identified cross-border QR connectivity as a strategic priority in building a modern, secure digital payments ecosystem.

VNAT’s Chairman Nguyen Trung Khanh (third from the right) at the event (Photo: TITC)

The launch comes amid strong travel flows between the two countries. In 2025, Vietnam welcomed more than 21.2 million international visitor arrivals, a 20 per cent increase year-on-year. South Korea remained the second-largest inbound market, accounting for approximately 4.3 million arrivals, or around one-fifth of the total. Meanwhile, outbound travel from Vietnam to South Korea also showed steady growth, reaching roughly 550,000 visitor arrivals.

Officials say the new payment system is expected to remove common barriers related to currency exchange and cash usage, making travel more convenient for visitors on both sides. It also aligns with wider efforts by both governments to promote cashless economies and strengthen regional digital infrastructure.

Looking ahead, NAPAS and its partners plan to expand the service into a fully integrated two-way payment system, enabling Vietnamese users to make QR payments in South Korea. The move is seen as part of a broader push to develop a connected, cross-border financial ecosystem across Asia.

Tourism Information Technology Center