Global Fintech Industry Eyes Cross-Border Payment Opportunities in Vietnam
Vietnam, recognized as a market with strong purchasing power from both domestic consumers and international tourists, is drawing growing interest from foreign startups and fintech companies seeking to offer local payment solutions.
Tourists receiving guidance on cross-border digital financial services in Vietnam. - Photo: VĂN TRUNG
At the Digital Finance Day 2026 held in the first week of June 2026, QR code payment solutions — both domestic and international — attracted significant attention from users and service providers alike. QR payments have gained traction for their convenience, instant transaction processing, and near-zero fee structure.
Global Fintech Firms Seek Opportunities in Cross-Border Payments
On the international payments front, numerous banks and financial institutions have signaled their push to expand cross-border QR payment solutions. Chinese tourists can already make payments at select merchants in Vietnam by scanning a Global QR code.
Travelers from major markets such as South Korea and China are often subject to limits on the amount of cash they can carry when traveling abroad. When visiting Vietnam, they largely rely on cards or cash, creating friction at the point of payment and potentially dampening spending.
Beyond cross-border QR models, fintech companies are also putting forward new proposals based on digital assets.
Lee Yu Jin, CEO of Zekto, speaking with Tuổi Trẻ Online at the Digital Finance Festival. - Photo: DUYÊN PHAN
In an interview with Tuổi Trẻ Online, Lee Yu Jin, CEO of Zekto, noted that the rapid growth of tourism and trade between Vietnam and South Korea is generating strong demand for payment solutions that are convenient, cost-effective, and fast.
As a fintech company specializing in digital payments, Lee attended the Digital Finance Festival 2026 to gain a firsthand understanding of the current demand for international payment infrastructure in Vietnam.
She expressed particular interest in providing the most convenient, fast, and affordable payment experience for Korean tourists visiting Vietnam — a visitor segment that is both large in volume and high in spending power.
According to Lee, the goal of new payment solutions is to enable tourists to pay as easily as they would in their home country, while also supporting more efficient connectivity between the financial and banking systems of each nation.
"In addition to QR payments, which are already widely embraced, Vietnam can look to a solution that many fintech startups are exploring — using digital assets designed to maintain stable value as an intermediary layer in cross-border transactions," Lee shared.
Under this model, Korean tourists in Vietnam would still pay by scanning a QR code, just as they do with existing digital payment methods. The transaction is processed through a stablecoin (cryptocurrency) layer, which is then converted into local currency on the banking side in each respective country.
More Convenient Payment Options Mean More Tourist Spending
Zekto's representative emphasized that the more solutions are available to simplify payments for tourists and businesses, the greater the opportunity for visitor spending.
Speaking at the workshop "Standardizing Payments — Enhancing Business Efficiency" organized by Tuổi Trẻ newspaper, Trần Lê Bảo Châu, Vice President of the Ho Chi Minh City Food and Beverage Association (FBA), noted that the tourism industry needs solutions to increase spending by international visitors, with cross-border payments being a key factor.
In early April 2026, Vietnam officially launched bilateral QR payments with China; by late April, the scheme was extended to South Korea, enabling Chinese and Korean tourists to pay at merchants across Vietnam. Payment volumes from tourists of both countries surged sharply, rising from hundreds of millions of VND per day to billions of VND per day.
Phạm Anh Tuấn, Director of the Payment Department at the State Bank of Vietnam, stated that the central bank has been actively working with relevant agencies to strengthen bilateral retail QR payment connectivity with countries across the region and around the world. Cross-border digital payments, he noted, are becoming a new driver of growth in tourism, trade, and consumption.
A growing number of research proposals on blockchain, digital assets, and digital finance models are attracting attention, reflecting the rapidly increasing demand for cross-border payment solutions — particularly in the areas of tourism and trade.
Reporter: NGHI VŨ / Source: Tuổi Trẻ
※ This article has been translated from the original Vietnamese using AI. The Vietnamese-language version is the authoritative source.
Original article (Vietnamese): Read the original on Tuổi Trẻ Online →
Global Fintech Industry Eyes Cross-Border Payment Opportunities in Vietnam
Vietnam, recognized as a market with strong purchasing power from both domestic consumers and international tourists, is drawing growing interest from foreign startups and fintech companies seeking to offer local payment solutions.
Tourists receiving guidance on cross-border digital financial services in Vietnam. - Photo: VĂN TRUNG
At the Digital Finance Day 2026 held in the first week of June 2026, QR code payment solutions — both domestic and international — attracted significant attention from users and service providers alike. QR payments have gained traction for their convenience, instant transaction processing, and near-zero fee structure.
Global Fintech Firms Seek Opportunities in Cross-Border Payments
On the international payments front, numerous banks and financial institutions have signaled their push to expand cross-border QR payment solutions. Chinese tourists can already make payments at select merchants in Vietnam by scanning a Global QR code.
Travelers from major markets such as South Korea and China are often subject to limits on the amount of cash they can carry when traveling abroad. When visiting Vietnam, they largely rely on cards or cash, creating friction at the point of payment and potentially dampening spending.
Beyond cross-border QR models, fintech companies are also putting forward new proposals based on digital assets.
Lee Yu Jin, CEO of Zekto, speaking with Tuổi Trẻ Online at the Digital Finance Festival. - Photo: DUYÊN PHAN
In an interview with Tuổi Trẻ Online, Lee Yu Jin, CEO of Zekto, noted that the rapid growth of tourism and trade between Vietnam and South Korea is generating strong demand for payment solutions that are convenient, cost-effective, and fast.
As a fintech company specializing in digital payments, Lee attended the Digital Finance Festival 2026 to gain a firsthand understanding of the current demand for international payment infrastructure in Vietnam.
She expressed particular interest in providing the most convenient, fast, and affordable payment experience for Korean tourists visiting Vietnam — a visitor segment that is both large in volume and high in spending power.
According to Lee, the goal of new payment solutions is to enable tourists to pay as easily as they would in their home country, while also supporting more efficient connectivity between the financial and banking systems of each nation.
Under this model, Korean tourists in Vietnam would still pay by scanning a QR code, just as they do with existing digital payment methods. The transaction is processed through a stablecoin (cryptocurrency) layer, which is then converted into local currency on the banking side in each respective country.
More Convenient Payment Options Mean More Tourist Spending
Zekto's representative emphasized that the more solutions are available to simplify payments for tourists and businesses, the greater the opportunity for visitor spending.
Speaking at the workshop "Standardizing Payments — Enhancing Business Efficiency" organized by Tuổi Trẻ newspaper, Trần Lê Bảo Châu, Vice President of the Ho Chi Minh City Food and Beverage Association (FBA), noted that the tourism industry needs solutions to increase spending by international visitors, with cross-border payments being a key factor.
In early April 2026, Vietnam officially launched bilateral QR payments with China; by late April, the scheme was extended to South Korea, enabling Chinese and Korean tourists to pay at merchants across Vietnam. Payment volumes from tourists of both countries surged sharply, rising from hundreds of millions of VND per day to billions of VND per day.
Phạm Anh Tuấn, Director of the Payment Department at the State Bank of Vietnam, stated that the central bank has been actively working with relevant agencies to strengthen bilateral retail QR payment connectivity with countries across the region and around the world. Cross-border digital payments, he noted, are becoming a new driver of growth in tourism, trade, and consumption.
A growing number of research proposals on blockchain, digital assets, and digital finance models are attracting attention, reflecting the rapidly increasing demand for cross-border payment solutions — particularly in the areas of tourism and trade.
Reporter: NGHI VŨ / Source: Tuổi Trẻ
※ This article has been translated from the original Vietnamese using AI. The Vietnamese-language version is the authoritative source.
Original article (Vietnamese): Read the original on Tuổi Trẻ Online →