On the morning of December 1st, Hanoi witnessed the launch ceremony of the bilateral retail payment connection via QR codes between Vietnam and China.
Speaking at the ceremony, Mr. Pham Anh Tuan, Director of the Payment Department at the State Bank of Vietnam, stated that today’s announcement is a remarkable achievement for all the teams involved. It is the result of tireless efforts by the National Payment Corporation of Vietnam (NAPAS), Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), China’s UnionPay International (UPI), and the Industrial and Commercial Bank of China (ICBC). QR Code technology has evolved from a novel innovation to a widely adopted payment method, now playing a pivotal role in building critical economic and social infrastructure, aligning with the nation’s era of advancement.
The project to connect bilateral retail payments via QR codes between Vietnam and China is a key initiative under the Joint Declaration between Vietnam and China during Chinese Premier Li Qiang’s visit to Vietnam in October 2024. This includes cross-border QR code cooperation and currency collaboration, such as exploring settlement in local currencies.
Successful bilateral retail payment connections with other countries have already boosted trade and tourism between Vietnam and its partners. The cross-border retail payment project between Vietnam and China is one of the most anticipated initiatives this year. In the final months of 2025, as we approach 2026, we witness a significant milestone: the official launch of services for Chinese customers in Vietnam (Vietnam inbound). The outbound service for Vietnamese travelers to China is expected to follow in Q1 2026.
The introduction of bilateral retail payment connectivity via QR codes between Vietnam and China marks a successful conclusion to this year’s payment sector achievements and promises a positive start to 2026 for both nations.
Mr. Pham Anh Tuan addressing the event on December 2nd
Director Pham Anh Tuan cited Vietnam’s General Statistics Office data, revealing that in the first nine months of 2025, Vietnam welcomed over 15.4 million international visitors, a 21.5% increase from 2024. China led as the largest source market, with nearly 3.9 million visitors, up 43.9% year-on-year.
According to the Director of the Payment Department, these impressive figures highlight the potential of cross-border QR code payments between Vietnam and China. This innovation promises significant benefits for Chinese tourists in Vietnam and Vietnamese travelers in China, supporting both nations’ goals of promoting cashless transactions.
“Imagine millions of Vietnamese tourists using their banking apps to scan QR codes in China for seamless payments, and vice versa. This not only ensures convenience and security but also fosters economic growth and cultural exchange between our nations,” he remarked.
Concluding his speech, Director Pham Anh Tuan emphasized that QR code payments have already encouraged cashless habits in Vietnam and introduced advanced payment solutions. Now, there is a unique opportunity to globalize Vietnam’s QR Code brand and develop a comprehensive digital service ecosystem. This shared mission involves regulatory bodies, banks, payment intermediaries, and the business community.
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