With this project between the two countries, consumers from China are set to be able to make payments at merchants accepting the national Vietnamese QR code system VietQR, leveraging China’s mobile payment tools in Vietnam.
The move was officially announced on 2 December 2025, with Nguyen Quang Minh, CEO of National Payment Corporation of Vietnam (NAPAS), stating that introducing the bilateral QR code payment system comes as a milestone that will solidify and optimise financial connectivity between China and Vietnam.
Adding to this, Wang Lixin, CEO of UnionPay International, noted that the project will provide mutual benefits to businesses and consumers.
Linking China and Vietnam through payments
The service was introduced by the National Payment Corporation of Vietnam, UnionPay International (UPI), the Industrial and Commercial Bank of India (ICBC), and Vietcombank. The launch comes after a Memorandum of Understanding (MoU) signed in October 2024 and a four-party agreement between UPI, NAPAS, ICBC, and Vietcombank to plan the framework for technical connectivity and settlement.
Read more: https://thepaypers.com/payments/news/china-and-vietnam-roll-out-cross-border-qr-code-payment-system
