Banks and payment intermediaries join forces to promote domestic and cross-border payments

On November 19, within the framework of the workshop "QR Code Payment: Transparency and Unlimited Experience", the National Payment Corporation of Vietnam (NAPAS) and 25 banks and payment intermediaries performed a ceremony of commitment to promote domestic and cross-border payments, witnessed by leaders of the State Bank of Vietnam, the Tax Department (Ministry of Finance) and the Department of Domestic Market Management and Development (Ministry of Industry and Trade).

This ceremony demonstrates the strong commitment of the banking and payment intermediary community in accompanying the development of QR code payment methods in the market, expanding the network of VIETQRPay payment acceptance points for domestic transactions and VIETQRGlobal for cross-border payment transactions. This is also an important foundation to help realize the Government's goals of digital transformation in the economic sector, in which digital payments play a key role thanks to the transparency and safety of financial transactions, contributing to promoting e-commerce and improving business performance.

25 banks and payment intermediaries have made a commitment to promote domestic and cross-border payments.

Launched in 2021, the VietQR standard is a common brand identity for QR code transfer services processed through the NAPAS network. In the past 3 years, VietQR code scanning payments have penetrated into all aspects of life, from traditional markets to sidewalk stalls, parking lots, etc. The convenience of VietQR has promoted customers' cashless transaction habits - using banking applications (mobile apps) to make payments for all types of goods and services.

According to NAPAS, as of October 2025, there were nearly 90 million accounts using Mobile Banking to scan VietQR codes to make daily money transfers. Money transfer transactions via VietQR codes recorded in the NAPAS system in the first 10 months of 2025 increased by more than 52% in quantity (reaching 3.6 billion transactions) and 85% in value (9.2 million billion VND) compared to the same period in 2024.

In response to market demands and the task of expanding cross-border payment connections between Vietnam and countries in the region, NAPAS has recently upgraded technical standards and coordinated with banks and payment intermediaries to standardize VIETQRPay and VIETQRGlobal payment services to effectively serve domestic retail transactions and promote cross-border payments. This is also an urgent task for the entire banking system to build a modern payment infrastructure that is suitable for the integration trend.

First of all, for domestic retail payments, VIETQRPay brings many outstanding benefits to businesses and enterprises providing goods and services to customers. Compared to the express delivery service between individuals using VIETQR code, the VIETQRPay payment solution is integrated into the sales management software, allowing full display of order information associated with each payment transaction. Thanks to that, the sales unit can easily process refunds/cancellations, check complaints, and at the same time manage transparent finances and improve customer service quality.

The cross-border payment service is identified by the name VIETQRGlobal. This unified identification helps overcome the lack of uniformity in brand recognition at payment acceptance points, helping international tourists easily recognize payment acceptance points using QR codes in Vietnam and make transactions quickly and conveniently.

The ceremony "The banking and payment intermediary community commits to work together to promote the development of domestic and cross-border payments" is a meaningful milestone, marking a new, effective and sustainable development step of the QR code payment market in Vietnam, and at the same time demonstrating the commitment of NAPAS and its member organizations to improve user experience, promote cashless payments and support the management of state agencies.

Speaking at the event, Mr. Nguyen Quang Minh - General Director of NAPAS emphasized: “Promoting domestic and cross-border payments through VIETQRPay and VIETQRGlobal is an important foundation to build a more transparent market, creating conditions for businesses to develop, protecting users and supporting management agencies with sufficient data to make policies. The fact that banks and payment intermediaries join in this commitment shows the common determination of the entire financial - banking industry in building a modern, safe and interconnected payment infrastructure.”

Mr. Nguyen Quang Minh added: “VIETQRGlobal will be a launching pad for Vietnam’s trade and tourism to integrate more strongly with the regional economic flow. When borders are no longer a barrier to payment, users will have a more convenient experience, and Vietnamese businesses can increase their competitive advantage.”

In the coming time, to realize the commitment and promote payment using QR codes, NAPAS will coordinate with commercial banks and payment intermediaries to expand the network of VIETQRPay payment acceptance points; at the same time, continue to cooperate with partners in the region to promote VIETQRGlobal, serving tourism, shopping and cross-border e-commerce.

In addition, through cooperation with the Vietnam Cyber ​​Security Association and other parties, NAPAS will continue to invest in security and anti-fraud solutions, ensuring the safe and sustainable development of domestic and cross-border payments.

Source: https://thoibaonganhang.vn/ngan-hang-va-trung-gia-thanh-toan-dong-hanh-thuc-day-thanh-toan-noi-dia-va-xuyen-bien-gioi-173821.html