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NAPAS to expand cross-border QR payment with China, RoK and Japan in 2025
The National Payment Corporation of Việt Nam (NAPAS) will expand its cross-border QR payment services with countries including China, Japan and the Republic of Korea in 2025, aiming to promote the use of local currencies in cross-border payments and facilitate trade, investment and tourism between Việt Nam and these countries.
A customer scans a QR Code to make a payment. Payments via VietQR soared by 2.2 times in volume and 2.6 times in value in 2024, according to statistics from the National Payment Corporation of Việt Nam. — VNA/VNS Photo Nguyễn Thành
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This year, NAPAS completed the QR payment service connections with Thailand and Laos.
The latest statistics of NAPAS showed that cashless payments are increasing rapidly in Việt Nam.
Its system processed an average of more than 26 million transactions per day, an increase by 30.3 per cent in terms of volume and 15.9 per cent in terms of value over 2023.
NAPAS 24/7 fast transfer services saw an increase by 34.7 per cent in volume and 16.4 per cent in value, accounting for 93.5 per cent of the company’s total services. Payments via VietQR soared by 2.2 times in volume and 2.6 times in value.
Meantime, cash withdrawal at ATMs dropped sharply by 19.5 per cent.
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