Vietnam develops digital infrastructure for cross-border payments

Vietnam is advancing its digital financial infrastructure to facilitate seamless cross-border payments. This development aims to connect national payment systems, settlement banks, and international partners to allow users to utilize familiar payment tools when traveling abroad.

Deputy Prime Minister Nguyen Van Thang noted that cashless payments have become the “lifeblood of the digital economy,” linking banking with sectors such as commerce, healthcare, education, and tourism. The initiative focuses on creating a digital ecosystem where data, identity, and digital connectivity form a modern, transparent financial foundation.

Key players are investing in various aspects of this infrastructure: NAPAS is focusing on technical standards and international interoperability, banks are investing in real-time processing systems, and fintech companies are expanding partner networks. The implementation of account-to-account QR payment models is expected to benefit small businesses by allowing them to accept inbound payments from international tourists via their own domestic e-wallets or banking apps.