HCM CITY — SACOMBANK has become one of the first banks in Việt Nam to partner with the National Payment Corporation of Vietnam (NAPAS) to implement cross-border QR code payment services between Việt Nam and China via VIETQRGlobal.

The service marks a new milestone in SACOMBANK’s journey to expand digital payments across Asia, underscoring its robust technological capabilities and long-term commitment to advancing cross-border digital payments.

VIETQRGlobal was developed to meet the payment needs of travellers and consumers when travelling, shopping, and transacting across borders. Under this bilateral QR-based retail payment connection, the parties have jointly deployed modern infrastructure, gradually integrating digital payment ecosystems in a synchronised, secure manner aligned with international standards. This enables users in both markets to enjoy fast, convenient cross-border payments, meeting rising demand amid strong growth in trade, tourism, and bilateral cooperation.

Beyond convenience, VIETQRGlobal also enhances security, shortens transaction processing times, and improves automatic reconciliation among participating parties.

In the initial phase, the service is being rolled out for inbound transactions to Việt Nam (Vietnam inbound). Chinese tourists can enjoy a “home-like” payment experience by using their Alipay wallets to scan VIETQRGlobal codes at a wide network of acceptance points, including shopping malls, tourist attractions, and restaurants. This also creates growth opportunities for millions of Vietnamese merchants by tapping into China’s large Alipay user base.

In 2026, SACOMBANK and NAPAS aim to complete the reverse connection (Vietnam outbound). Once implemented, SACOMBANK NAPAS cardholders who link their cards to the SACOMBANK PAY app will be able to scan QR codes to pay at affiliated merchants in China, eliminating the need to exchange foreign currency or carry cash, and enabling a seamless, convenient, and cost-effective payment experience.

A SACOMBANK representative said: “We will work closely with NAPAS to evaluate and finalise the two-way payment connection with China at the earliest possible time. SACOMBANK is currently a pioneer in successfully deploying VIETQRGlobal with Thailand, Cambodia and Laos. We are also exploring expansion into other potential markets such as South Korea and Singapore, gradually enhancing and expanding Việt Nam’s cross-border payment infrastructure.”

With its modern technology platform and extensive network, SACOMBANK expects VIETQRGlobal to be widely adopted at retail stores, eateries, cafés, mini supermarkets, and personal service providers nationwide, helping accelerate cashless payment adoption while boosting trade and tourism between Việt Nam and its partner countries. — VNS