The State Bank of Vietnam’s Payment Department, together with the National Payment Corporation of Vietnam (Napas), convened a workshop on QR-code payments, where Deputy Governor Pham Tien Dung said QR payments can now be used for all goods and services nationwide, supported by consistent government policy, the unified VietQR standard and broad market adoption. The programme also included a kick-off in which 28 banks and payment-intermediary providers committed to transition from ‘QR Transfer’ to ‘QR Pay’ under the central bank’s QR standardisation direction. Payment Department Director Pham Anh Tuan reported that in the first nine months of the year, non-cash payment activity exceeded 17.8 billion transactions worth more than VND 260 quadrillion, up 43.32% in volume and 24.23% in value. Internet payments accounted for more than 3.4 billion transactions worth VND 76 quadrillion and mobile payments for more than 11.5 billion transactions worth VND 64 quadrillion, while QR-code payments reached more than 337 million transactions worth VND 288 trillion, up 61.63% in volume and 150.67% in value. Vietnam has launched two-way cross-border QR payments with Thailand, Laos and Cambodia, with additional markets including China, South Korea, Singapore, India and Taiwan (China) expected in 2025–2026. The central bank highlighted ongoing reliance by some merchants on personal QR codes for accepting payments, limited cooperation among QR-brand issuers that reduces interoperability, and still-low cross-border usage relative to market demand. Priorities set out for payment and payment-intermediary providers include expanding acceptance networks, encouraging QR payment codes over QR transfer codes, strengthening interconnection across QR brands, extending cross-border links (including to Malaysia) and increasing communication and merchant staff training so customers can identify and use bilateral retail QR services correctly.
State Bank of Vietnam 2025-11-19
State Bank of Vietnam backs industry commitment to shift from QR Transfer to QR Pay and reports rapid growth in QR-code payments
The State Bank of Vietnam and the National Payment Corporation of Vietnam held a workshop on QR-code payments, announcing nationwide availability under the unified VietQR standard. Deputy Governor Pham Tien Dung highlighted the transition of 28 banks and payment intermediaries from 'QR Transfer' to 'QR Pay'. Despite growth in non-cash and QR-code payments, challenges remain in merchant reliance on personal QR codes, limited interoperability, and low cross-border usage, with plans to expand acceptance networks and cross-border links.