Exciting news for tech enthusiasts and savvy travelers! On April 15, a groundbreaking Quadrilateral Cooperation Agreement was signed by key financial institutions—ICBC, UnionPay International, Vietnam National Payment Corporation (NAPAS), and Vietcombank—to boost cross-border QR code payment services. Under the guidance of the People\"s Bank of China and the State Bank of Vietnam, this deal promises smoother transactions and a more connected digital economy. 📱💳
What does this mean for you? Chinese consumers can now use the UnionPay app or affiliated wallets at Vietnamese merchants that accept VietQR codes, while Vietnamese consumers will enjoy the ease of paying via their local VietQR wallets at UnionPay QR code merchants in China. This collaboration not only makes payments super convenient but also promotes local currency settlements, reducing reliance on the US dollar and strengthening financial resilience.
Beyond transactions, this initiative deepens economic ties and paves the way for enhanced people-to-people exchanges—it’s all part of a broader vision aligning with the Belt and Road initiative and the Two Corridors and One Circle framework. Whether you\"re ordering street food in Hanoi or navigating bustling city life in Ho Chi Minh, this tech leap connects us all in a fast-paced, digital world. 🚀
Stay tuned for more updates as this innovative payment ecosystem rolls out, making everyday transactions smoother and our cross-border connections even stronger!
Reference(s):
cgtn.com
