Vietnam currently has more than 2.5 million businesses and other entities accepting cashless payments, including around 154,000 that accept cross-border payments, according to the State Bank of Vietnam.

Its cross-border QR payment network is currently connected to six markets: Thailand, Laos, Cambodia, China, South Korea, and Singapore.

NAPAS said the value of QR payment transactions by tourists from Thailand, Laos, and Cambodia has risen sixfold.

The number of transactions made by Vietnamese travelers in those three markets has increased fivefold and their total value by more than four times from the same period in 2025.

State Bank of Vietnam's Deputy Governor Pham Tien Dung speaks at a seminar on Sept. 25, 2026. Photo by VnEconomy

State Bank of Vietnam deputy governor Pham Tien Dung said cross-border payments are not simply about technology or QR codes, but about whether such connections could create tangible value for the economy.

Banking authorities say the next stage should shift the focus from "connection" to actual usability and efficiency.

This means measuring success not only by the number of connected markets but also by the number of actual users, the coverage of acceptance points, costs, and service quality, among other factors.

The merchant fee for VietQRGlobal, a cross-border QR payment service that allows foreign visitors to pay in Vietnam, is expected to be around 1.5% of the transaction value, compared with 2.4%–3% for international card payments, according to NAPAS.

The difference is significant for small shops and household businesses, which can serve international visitors but are more sensitive to payment acceptance costs. Expanding the network also brings greater requirements for security.

As transactions pass through multiple systems and different legal frameworks, participating parties must address issues related to security, fraud, anti-money laundering, data protection, and customer rights.

Nguyen Dang Hung, deputy general director of NAPAS, said using a common connection hub allows banks and payment intermediaries to serve customers from multiple countries.

NAPAS also standardizes business processes and technical and security standards, while providing support for transaction inquiries and complaint resolution.