Hana Bank has joined forces with Vietnam’s BIDV to strengthen digital finance cooperation. The two leading banks signed an agreement to expand QR code payment and settlement services. This deal aims to build a stronger financial bridge between Korea and Vietnam. Moreover, it focuses on making transactions easier and faster for users in both nations.
The signing took place during a high-profile Korea–Vietnam business event attended by senior officials and hundreds of industry leaders. This setting highlighted the strategic importance of the partnership. It also underlined the growing role of financial technology in boosting bilateral trade and tourism. Additionally, the presence of BIDV’s top executives reinforced the long-term nature of this collaboration.
Through the agreement, Hana Bank and BIDV will develop a system that allows individuals and companies to make payments using QR codes. These transactions will be supported by secure and efficient settlement services across borders. As a result, both small businesses and large corporations will benefit from improved payment convenience. Furthermore, the service will aim to lower costs for merchants and travelers.
The Vietnam QR payments initiative combines Hana Bank’s advanced fintech capabilities with BIDV’s extensive domestic network. This synergy will help expand access to modern payment methods in urban and rural areas. It will also encourage more Korean businesses and tourists to operate comfortably in Vietnam. Consequently, both countries will see stronger trade and financial integration.
Cross-border payment services are becoming a priority for many Korean banks. They recognize the growing number of Korean expatriates, tourists, and companies in Vietnam. By investing in digital payment systems, these institutions hope to serve a broader client base. Additionally, they aim to strengthen their competitive edge in Southeast Asia’s evolving financial market.
Hana Bank and BIDV share a history of cooperation. Hana purchased a significant stake in BIDV as part of a strategic alliance. Since then, the two have launched several joint services. For example, they introduced a QR-based cash withdrawal feature through Hana’s mobile app. This service lets users withdraw money from thousands of BIDV ATMs in Vietnam without a card.
The Vietnam QR payments project represents more than a technology upgrade. It reflects a broader vision of closer economic cooperation between Korea and Vietnam. By focusing on efficiency, security, and accessibility, Hana Bank and BIDV are setting a strong example for cross-border financial innovation.
