BIDV Launches Cross-Border QR Payment Service with Korea Partners

Overview

BIDV, in collaboration with Napas, GLN International, and Hana Bank, has officially launched a cross-border QR payment service between Vietnam and South Korea. The service enables Korean tourists and residents in Vietnam to make payments using Korean banking apps at merchants within the VIETQRGlobal network. This initiative is part of a broader effort to enhance digital payment infrastructure and boost bilateral economic ties.

Key Facts

• BIDV acts as the settlement bank and directly develops the merchant acceptance network for the cross-border QR payment service.
• The service is built on a partnership between Napas (Vietnam’s national payment gateway), GLN International (a global financial platform under Hana Financial Group), and Hana Bank.
• The project was developed from a cooperation agreement signed at the Vietnam-Korea Economic Forum in 2025.
• In 2025, Vietnam welcomed over 21.2 million international tourists, a 20% increase from 2024, with South Korea being the second-largest source market at approximately 4.3 million visitors (20% of total).
• Vietnamese tourists to South Korea reached about 550,000 in 2025, up 9% year-on-year.
• The service allows Korean users to pay via Korean banking apps or e-wallets at VIETQRGlobal acceptance points in Vietnam.
• Napas is responsible for connecting and operating the VIETQRGlobal payment network in Vietnam, while GLN connects with Korean banks and payment apps.

What Happened

BIDV, together with Napas, GLN International, and Hana Bank, announced the launch of a cross-border QR payment service between Vietnam and South Korea. The service was officially put into operation after a period of system integration, connecting payment and settlement infrastructure between the two countries. The announcement was made at an event attended by leaders of the State Bank of Vietnam, representatives of the partner organizations, and the Vietnamese Tourism Ambassador to South Korea.

BIDV’s General Director Le Ngoc Lam stated that BIDV plays the role of settlement bank and directly develops the merchant acceptance network. The bank is committed to providing modern payment infrastructure that meets international standards, offering a seamless and reliable experience for customers and partners in the digital payment ecosystem. Napas General Director Nguyen Quang Minh noted that expanding cross-border QR payment connectivity is a key task to develop modern, safe payment infrastructure serving people and businesses.

Market Context

BIDV (HOSE: BID) closed at VND 40,000 on April 15, 2026, down 0.12% with a trading volume of 6,041,900 shares. The launch of the cross-border QR payment service aligns with the broader trend of digital payment adoption in Vietnam and the growing tourism sector. With South Korea being the second-largest source of international tourists to Vietnam, the service is expected to enhance payment convenience for Korean visitors, potentially driving increased transaction volumes through BIDV’s network.

Strategic Significance

This partnership positions BIDV as a key player in the cross-border digital payment space, leveraging its role as a settlement bank to capture transaction flows from the large Korean tourist segment. The collaboration with Napas and Hana Financial Group’s GLN platform provides BIDV with access to a ready-made user base of Korean banking app users. The service also lays the groundwork for a two-way connection, with plans to enable Vietnamese tourists to pay in South Korea, further deepening the financial integration between the two countries. For long-term investors, this initiative strengthens BIDV’s non-interest income stream and reinforces its digital transformation strategy.

What to Watch

• Expansion of the merchant acceptance network under VIETQRGlobal and the number of transactions processed through the service in the coming quarters.
• Progress on the two-way connection enabling Vietnamese tourists to pay in South Korea, as indicated by BIDV and Hana Bank.
• BIDV’s quarterly earnings reports for any disclosed revenue or transaction volume from the cross-border payment service.
• Potential expansion of QR payment connectivity to other countries, as Napas has indicated plans to broaden the network.
• Regulatory developments from the State Bank of Vietnam regarding cross-border digital payments and foreign exchange management.