Vietnam, Laos Central Banks Push Wider Cross-Border QR Payments

The central banks of Vietnam and Laos have agreed to widen cross-border QR payments and promote the use of their own currencies in bilateral transactions, as the two countries aim for US$10 billion in two-way trade in the coming years, the Vietnam News Agency (VNA) reported on Wednesday (Nov 11).

The plan was discussed at the 2026 annual meeting between the State Bank of Vietnam (SBV) and the Bank of Laos (BOL) in early November. The meeting was co-chaired by SBV Governor Pham Duc An and BOL Governor Bounkham Volachit.

More merchants, local currencies

According to VNA, the two governors reviewed macroeconomic developments, the use of national currencies in payments and cross-border transfers, and progress in linking their retail payment systems through QR codes.

They agreed to step up cooperation in 2027, focusing on expanding two-way QR payment services and encouraging the use of the Vietnamese dong and the Lao kip.

The initiative is expected to give businesses, tourists and residents convenient, transparent and secure payment options, while reducing reliance on third-country currencies, cutting transaction costs and improving payment efficiency, the agency said.

Vietnam and Laos launched their cross-border QR payment service in Vientiane on Jan 9, 2025. The link had recorded more than 25,000 transactions as of October 2026, according to figures released on Nov 5.

The two central banks will keep expanding the network of participating merchants so that Lao citizens can use QR payments in Vietnam for tourism, education, healthcare and business, VNA said.

Training and bank links

Vietnam also pledged technical consultancy from senior banking experts, along with postgraduate training and professional development for BOL officials.

The two sides also met representatives of Vietnamese commercial banks operating in Laos and acknowledged their role in providing credit, banking services and digital payments.

Earlier this year, VNA reported SBV Deputy Governor Pham Tien Dung as saying Vietnam had completed cross-border QR payment connections with Thailand, Cambodia, Laos and China and was expanding to more markets.

What’s next for QR payments

Separately, VNA reported that Vietnam will start enforcing a new anti-money laundering supervision regime for the monetary and banking sector on Dec 1 under an SBV circular. The rules combine compliance checks with risk-based supervision, and supervised entities that fail to fix shortcomings may face fines, the agency said.

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