VNPAY Cross-Border QR: Tourists Pay in Vietnam Without Cash

Overview

VNPAY, a subsidiary of VNG Corporation (VNZ, UPCOM), has expanded its cross-border QR payment solution, allowing international tourists to pay at Vietnamese merchants using their familiar payment apps. This move aims to enhance the tourist experience and boost cashless transactions, particularly in major destinations like Đà Nẵng, Hội An, Nha Trang, and Hà Nội.

Key Facts

• VNPAY’s cross-border QR solution supports payments from tourists using WeChat Pay/UnionPay International (China), ITMX (Thailand), LAPNet (Laos), ACLEDA (Cambodia), and GLN network apps (South Korea).
• Merchants across Vietnam, including in Đà Nẵng, Hội An, Nha Trang, Phú Quốc, Hà Nội, and Hồ Chí Minh City, are adopting the solution.
• The solution eliminates the need for tourists to exchange currency, reducing time and costs associated with foreign exchange.
• In February 2026, VNPAY and NAPAS officially partnered to deploy cross-border QR payment solutions nationwide.
• VNZ closed at 600,000 VND on 2026-08-11 on the UPCOM exchange.

What Happened

According to a report from VNPAY, international tourists are increasingly using familiar mobile payment apps instead of carrying cash when visiting Vietnam. This trend is particularly evident in popular destinations such as Đà Nẵng, Hội An, Nha Trang, Phú Quốc, Hà Nội, and Hồ Chí Minh City. A restaurant owner in Nha Trang noted a significant rise in international customers, especially from South Korea and China, who prefer paying via bank apps or e-wallets.

To address this demand, VNPAY’s cross-border QR solution allows tourists to scan VNPAY-QR codes at participating merchants using their home payment apps. The solution supports major international payment networks, including WeChat Pay, UnionPay, ITMX, LAPNet, ACLEDA, and GLN. This initiative not only simplifies the payment process for tourists but also helps merchants avoid losing sales due to payment method mismatches.

Market Context

VNZ, listed on UPCOM, has been a key player in Vietnam’s digital economy, with VNPAY being a leading payment gateway. The cross-border QR initiative aligns with Vietnam’s push toward a cashless society, supported by the State Bank of Vietnam and NAPAS. The tourism sector’s recovery and growth, with international arrivals rising, presents a significant opportunity for payment service providers. VNZ’s stock closed at 600,000 VND on 2026-08-11, reflecting investor confidence in its strategic direction.

Strategic Significance

For long-term investors, VNPAY’s cross-border QR expansion strengthens VNG’s position in the fintech ecosystem. By integrating with global payment networks, VNPAY taps into the growing inbound tourism market, potentially increasing transaction volumes and merchant adoption. This move also enhances VNG’s competitive edge against other payment providers, as it offers a seamless solution for international tourists. The partnership with NAPAS further solidifies VNPAY’s role in the national payment infrastructure, which could lead to more collaborations and regulatory support.

What to Watch

• Adoption rate of cross-border QR among merchants in key tourist destinations.
• Transaction volume growth from international tourists in Q3 and Q4 2026.
• Expansion of supported payment networks beyond the current list.
• Any regulatory changes or partnerships with NAPAS that could affect VNPAY’s operations.
• VNZ’s quarterly earnings reports for updates on VNPAY’s financial performance.