Vietnam expands VietQR Global payments to Japan, India, and Malaysia

Vietnam is expanding its VietQR Global cross-border payment system to include Japan, India, and Malaysia. This expansion follows successful implementations with Thailand, Laos, Cambodia, China, South Korea, and Singapore.

During a seminar in Hanoi, officials from the State Bank of Vietnam and NAPAS highlighted that cross-border QR payments are becoming a significant driver for retail and tourism. Data shows rapid growth in existing connections; for instance, transactions by tourists from Thailand, Laos, and Cambodia in Vietnam increased eightfold in volume over the past eight months.

Deputy Governor Pham Tien Dung emphasized that expanding these connections will provide more convenient options for tourists and help small businesses reach international customers. However, he stressed the necessity of ensuring security, preventing fraud, and protecting customer data during the expansion. Currently, only about 6% of Vietnam’s payment points offer VietQR Global to international visitors, indicating significant room for growth.