On December 2, 2025, China and Vietnam officially launched a bilateral QR code payment service in Hanoi, marking the arrival of this innovative solution in the Vietnamese market.

Payment Integration Between Countries

This initiative allows Chinese consumers to make payments at merchants accepting the national VietQR system using China’s mobile payment tools. According to Nguyen Quang Minh, CEO of National Payment Corporation of Vietnam (NAPAS), this milestone will strengthen and optimize financial connections between the two nations.

Adding his insights, Wang Lixin, CEO of UnionPay International (UPI), emphasized that the project will benefit businesses and consumers alike.

Collaboration Among Financial Institutions

The service was introduced by a collaboration between National Payment Corporation of Vietnam, UnionPay International, the Industrial and Commercial Bank of China (ICBC), and Vietcombank. Following an agreement signed in October 2024, these institutions worked together to establish the technical framework for payment connectivity and settlement.

Central Retail Vietnam’s supermarket system, Highland Coffee, and various payment points within the Sun World tourism network are among the early adopters of this service. Chinese visitors can now scan VietQR at participating merchants, including major retailers, shopping centers, tourist attractions, restaurants, and travel services.

Government Support and Economic Impact

The launch was supported by the State Bank of Vietnam. Nguyen Quang Minh noted that the solution aims to enhance financial connectivity, promote the use of local currencies in cross-border transactions, and support trade, tourism, and broader economic cooperation between China and Vietnam.