UnionPay International has announced that Vietnamese users can link UnionPay cards issued by Vietnamese banks with Alipay and WeChat Pay for payments in China.
This development enables Vietnamese travellers, students, and professionals to make secure QR code payments at numerous locations across China, including shops, restaurants, public transport, and tourist sites.
Go deeper with GlobalData
Eligible UnionPay cards are currently issued by the following Vietnamese banks: Military Commercial Joint Stock Bank (MB Bank), LienVietPostBank (LPBank), Bank of China – Ho Chi Minh City Branch, and Industrial and Commercial Bank of China – Hanoi Branch (ICBC).
UnionPay International, a global payments brand, has extended its services to 183 countries and regions and is now enhancing its presence in Vietnam.
The collaboration is anticipated to include more Vietnamese banks in the future.
In Vietnam, UnionPay International signed an agreement with the National Payment Corporation of Vietnam (NAPAS) in October last year.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe agreement focuses on advancing cross-border QR code payment interoperability and enabling QR payments through UnionPay and Vietnamese local bank applications/e-wallets on each network.
In March this year, UnionPay partnered with National ITMX (NITMX) to facilitate the integration of UnionPay payment solutions with Thailand’s PromptPay system, initially targeting QR code payment solutions for Chinese tourists in Thailand.
