UnionPay International (UPI) and the National Payment Corporation of Vietnam (NAPAS) have signed an MOU to deepen the collaboration on cross-border QR code interoperability and enable QR payments by UnionPay and Vietnamese local bank applications\/e-wallets on each other’s networks.<\/p>\n\n\n\n
UnionPay has been actively driving interoperability with payment networks in international markets to build an open and inclusive ecosystem.<\/p>\n\n\n\n
The collaboration in Vietnam is pitched as providing payment services for the Chinese and Vietnamese as they travel across borders.<\/p>\n\n\n\n
In August 2024, the central banks of China and Vietnam signed an MOU to further promote collaborative efforts in areas including cross-border payment interoperability.<\/p>\n\n\n\n
In line with this framework, UPI has been deepening collaboration with NAPAS and will open up the UnionPay network to Vietnamese wallets on a large scale. In the future, Vietnam’s local banking app and e-wallet users will be able to scan UnionPay QR for payment in China’s mainland.<\/p>\n\n\n\n
Network interoperability is UnionPay’s innovative collaboration model for QR networks, which allows UnionPay and its international partners to quickly enable mutual acceptance on a large scale through simple integration.<\/p>\n\n\n\n
The model has been widely recognized by international industry stakeholders since its launch.<\/p>\n\n\n\n
Up to now, UnionPay’s partnerships with QR code networks in South Korea, Sri Lanka, Cambodia, Malaysia and Laos have increased the number of UnionPay QR merchants to 8 million outside China’s mainland – proving to be increasingly effective as it scales up.<\/p>\n","protected":false},"excerpt":{"rendered":"
UnionPay International (UPI) and the National Payment Corporation of Vietnam (NAPAS) have signed an MOU to deepen the collaboration on cross-border QR code interoperability and enable QR payments by UnionPay and Vietnamese local bank applications\/e-wallets on each other’s networks. UnionPay has been actively driving interoperability with payment networks in international markets to build an open and inclusive […]<\/p>\n","protected":false},"author":58,"featured_media":40441,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6,15,31,35,59,44],"tags":[456,4645,7293,7294,7292,437],"class_list":["post-40440","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-verticals-banking-finance","category-digital-transformation","category-intelligent-technologies","category-more-news","category-south-east-asia","category-top-stories","tag-china","tag-mou","tag-national-payment-corporation-of-vietnam-napas","tag-qr-code","tag-unionpay-international-upi","tag-vietnam"],"acf":[],"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/posts\/40440","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/users\/58"}],"replies":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/comments?post=40440"}],"version-history":[{"count":1,"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/posts\/40440\/revisions"}],"predecessor-version":[{"id":40442,"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/posts\/40440\/revisions\/40442"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/media\/40441"}],"wp:attachment":[{"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/media?parent=40440"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/categories?post=40440"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/tags?post=40440"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}