Vietnam Woori Bank Launches 'Thailand QR Payment Service'

Real-Time Payment in Vietnamese Currency Available at Thai QR Code Payment Merchants

Vietnam Woori Bank announced on the 18th that it has launched the 'Thailand QR Payment Service,' becoming the first foreign bank in the local market to do so.

The Thailand QR Payment Service is a project promoted by Vietnam Woori Bank in collaboration with Vietnam's state-owned payment intermediary operator, NAPAS. This service connects the payment networks between Vietnam and Thailand, enabling payment in Vietnamese currency at 'Prompt Pay' and 'Thai QR' affiliated stores in Thailand without the need for separate currency exchange.

Customers who have installed and use Woori WON Vietnam, Vietnam Woori Bank's mobile banking app, can use the service without installing any additional apps. By scanning the QR code installed at Thai affiliated stores and entering the payment amount, the amount is immediately withdrawn from the Vietnam Woori Bank account and directly deposited into the merchant's account. The payment fee is about 0.22%, which is cheaper compared to the local credit card payment fee of 3-4%.

A representative of Vietnam Woori Bank stated, "The Thailand QR Payment Service alleviates the inconvenience of having to exchange currency or install separate payment apps when visiting Thailand from Vietnam," and added, "Vietnam Woori Bank plans to expand the QR payment service to neighboring countries such as Cambodia and Laos in the future."

Meanwhile, Vietnam Woori Bank has been actively promoting non-face-to-face partnership businesses this year to accelerate localization. In March, it established partnership channels with major local payment platforms such as Vnpay, and in May with Zalopay. In June, it opened a partnership service with VEXERE, Vietnam's largest bus ticket reservation platform.