Hana Bank opens QR payments in Vietnam for Korean travelers

South Korean travelers will be able to make QR payments in Vietnam without cash or cards, as Hana Bank expands its global payment platform GLN into one of Southeast Asia's fastest-growing markets.

Hana Bank said Sunday it signed a partnership with Vietnam's National Payment Corporation and the Bank for Investment and Development of Vietnam to launch the service. The signing took place Thursday in Hanoi, Vietnam, during the Korea-Vietnam Business Forum.

GLN, spun off from Hana Bank in 2021, has been expanding its digital payment and remittance network across major markets, including Thailand, Japan and Taiwan.

Under the partnership, Korean travelers will be able to pay at stores and franchises in major Vietnamese cities by scanning QR codes through the banking or fintech apps they already use at home, without exchanging currency.

The service will initially be available through Hana Bank, Hana Card, Hana Money, Toss and PurpleGLN, with plans to expand the network to include Naver Pay and other Korean banking apps.

Hana Bank said the deal goes beyond a simple payment partnership. The lender will participate as the only Korean financial institution serving as a settlement bank, while GLN will handle payment operations linked to Vietnam's national QR payment network and help build the local service with Hana Bank.

Separately, Hana Bank signed a memorandum of understanding with BIDV and the Korea Overseas Infrastructure & Urban Development Corporation to strengthen cooperation on infrastructure projects in Vietnam and other overseas markets.

Under the agreement, the three parties will form a strategic partnership in infrastructure, energy, urban development and green sectors, and jointly identify investment opportunities to support Korean companies' overseas expansion.

"The partnership and service launch will create tangible value by combining Vietnam’s growth potential with Hana Bank's global financial capabilities," Hana Bank CEO Lee Ho-sung said. "By linking infrastructure finance with digital payments, we will continue to provide convenient, secure services and advance our global payments network."