The State Bank of Vietnam reported on the announcement of a bilateral Vietnam–China retail payment connection via QR codes, marking the market launch of inbound cross-border QR payments for Chinese customers in Vietnam and setting out plans to add the outbound leg for Vietnamese customers in China. The connection was implemented by Vietnam National Payment Corporation (NAPAS) with UnionPay International (UPI), Industrial and Commercial Bank of China (ICBC) and Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank). In the initial phase, Chinese tourists can scan VIETQRGlobal to pay at participating acceptance points in Vietnam, including retail, food and beverage and tourism merchants. The project follows an October 2024 memorandum of understanding between UPI and NAPAS and a subsequent four-party cooperation agreement with ICBC and Vietcombank, with technical implementation now completed and the service ready for rollout. NAPAS and UPI plan to complete the reverse connection in early 2026, with the State Bank of Vietnam’s Payment Department indicating deployment for Vietnam outbound is expected in Q1 2026, enabling Vietnamese users to scan QR codes using payment applications of NAPAS member institutions to pay at UnionPay network merchants in China.
State Bank of Vietnam 2025-12-02
State Bank of Vietnam highlights launch of Vietnam–China bilateral QR retail payment connectivity with outbound service planned for Q1 2026
The State Bank of Vietnam announced the launch of a bilateral Vietnam–China retail payment connection via QR codes, enabling Chinese tourists to make payments in Vietnam. Implemented by Vietnam National Payment Corporation (NAPAS) with UnionPay International, Industrial and Commercial Bank of China, and Vietcombank, the service is ready for rollout. Plans are underway to enable Vietnamese customers to make payments in China by early 2026.