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Saturday, September 23, 2023

Heading toward cross-border payments

By Ricky Ho

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Not many Vietnamese travelers are aware that they can utilize quick response (QR) codes for retail payments in Thailand. However, the cross-border QR-based payment service is set to expand to six ASEAN countries this year. Slow expansion The State Bank of Vietnam (SBV) and the Bank of Thailand (BOT) are cooperating in financial innovation, with the National Payment Corporation of Vietnam (NAPAS) and the National Interbank Transaction Management and Exchange (NITMX) serving as switching operators. Currently, 40 Vietnamese banks allow clients to make money transfers by scanning QR codes using […]
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