On July 2, 2026, in Hanoi, the National Payment Corporation of Vietnam (NAPAS), in collaboration with Liquid Group (Singapore) and Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank), officially launched the Vietnam–Singapore cross-border QR payment service. Mr. Pham Tien Dzung, Deputy Governor of the State Bank of Vietnam (SBV), attended the launch ceremony.
The ceremony was also attended by leaders of the SBV Payment Department, representatives of commercial banks, payment intermediary service providers, and fintech experts from Vietnam and abroad.
This event marks an important milestone in strengthening retail payment connectivity between Vietnam and Singapore, contributing to enhanced trade, tourism, and digital economic cooperation between the two countries. The service also offers Singaporean visitors a faster, more convenient, and secure payment experience while helping merchants across Vietnam expand their digital payment acceptance.
Deputy Governor Pham Tien Dzung and representatives of NAPAS, VietinBank, and Liquid Group officially launch the Vietnam–Singapore cross-border QR payment service
Through the payment connectivity established between NAPAS and Liquid Group, Singaporean visitors can conveniently pay for goods and services in Vietnam by using participating payment applications in Singapore to scan VietQR Global codes at merchants nationwide. Transactions are processed in real time with automatic currency conversion between the Singapore Dollar (SGD) and the Vietnamese Dong (VND), enabling seamless cashless payments at shops, restaurants, hotels, and other retail outlets without the need to carry cash or exchange foreign currency.
Mr. Pham Anh Tuan, Director General of the SBV Payment Department, delivers remarks at the launch ceremony
Speaking at the event, Mr. Pham Anh Tuan, Director General of the SBV Payment Department, noted that during the official visit to Singapore by General Secretary To Lam in March 2025, the SBV and the Monetary Authority of Singapore (MAS) signed a Memorandum of Understanding (MoU) on strengthening cooperation in financial innovation, replacing the MoU signed in 2018. The bilateral QR code retail payment linkage is one of the key initiatives to implement this cooperation framework.
Over the past period, the SBV has actively coordinated with relevant stakeholders to promote the implementation of the Vietnam–Singapore bilateral QR payment linkage, with the objective of enhancing payment convenience for consumers while supporting stronger trade, tourism, and people-to-people exchanges between the two countries.
In the first five months of 2026, Vietnam welcomed nearly 10.6 million international visitors, an increase of 15% compared with the same period in 2025. Singapore was among Vietnam’s fastest-growing source markets, with more than 178,000 arrivals, up 28.5% year-on-year. During the same period, Singapore received over 123,000 Vietnamese visitors. Singapore also remains one of Vietnam’s most valuable tourism markets, with visitors recording among the highest per capita spending levels within ASEAN.
According to Mr. Pham Anh Tuan, the Vietnam–Singapore cross-border QR payment linkage is expected to significantly enhance convenience by allowing travelers from both countries to make payments directly in their local currencies. The initiative also supports the shared objective of promoting cashless payments and fostering a more inclusive and interconnected digital payment ecosystem in both countries.
With the successful launch of the Singapore payment linkage, NAPAS has now expanded its cross-border QR payment network to six countries, including four ASEAN member states. NAPAS will continue investing in modern, internationally compatible payment infrastructure to provide a solid foundation for the efficient and secure delivery of cross-border payment services.
HY