Cross-border QR payments: Efforts must go beyond expanding coverage
Hanoi, Oct. 1 -- VietQR Global, which enables Vietnamese users to make payments in many countries, and vice versa, currently covers more than 6% of domestic payment acceptance points, leaving significant room for expansion. The challenge, however, is not only to broaden coverage and connect more markets, but also to drive greater volumes of actual transactions. Behind simple QR scan lies complex payment infrastructure A seemingly simple QR scan is powered by multiple layers of infrastructure and connectivity behind the scenes. According to Nguyen Dang Hung, Deputy General Director of the National Payment Corporation of Vietnam (NAPAS), cross-border payment connectivity starts with building the necessary infrastructure. If banks and paymen...
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