🧠 Food for thought

Implications, context, and why it matters.

VIETQR Global’s success depends on merchant settlement terms that remain undisclosed

• Main costs remain hidden. MDR (merchant discount rate) or QR fees, plus foreign exchange spreads, are undisclosed, while partners say they use local currency settlement 1.
• Profitability is hard to judge against cash or cards, since UnionPay cards already work at over 90% of POS terminals in Vietnam 2.
• Reach stays murky. The launch mentions “major retailers”, yet the count of live locations versus technically enabled sites is missing 1.
• NAPAS 247 processes billions of domestic instant payments each year 3. Cross-border QR will scale only if the settlement math works for small merchants, not only large chains.

Payment service providers can capture Chinese tourist spend by racing to enable VIETQR Global acceptance via UnionPay International (UPI) interoperability

• Act fast if you serve hospitality or retail. Non-bank PSPs and point-of-sale (POS) or software vendors should enable VIETQR Global via UnionPay International (UPI), as Chinese arrivals hit 1.6 million in early 2025 and surpassed Thailand 4.
• Share of visitors matters. Chinese tourists made up nearly 40% of Vietnam’s international arrivals in May 2025, which creates demand for payments that work inside Chinese apps 4.
• Digital sales are in play. Lazada Vietnam already accepts UnionPay online, so e-commerce and marketplaces can benefit from QR acceptance too 5.
• Pick targets with data. PSPs and POS or software vendors need recent numbers on arrivals, spend and app preferences to size the market 4. Luxury hotels need different setups than street vendors.