Hana Bank, Vietnam’s BIDV to expand cross-border QR payment services under strategic partnership

The agreement is part of Hana’s strategy to become a key facilitator of financial connectivity in Southeast Asia

Hana Bank CEO Lee Ho-seong (right) and Le Ngoc Lam, CEO of BIDV, pose for a photo after signing an MOU on QR payment services during the Korea-Vietnam Business Forum in Seoul on Aug. 12, 2025
Hana Bank CEO Lee Ho-seong (right) and Le Ngoc Lam, CEO of BIDV, pose for a photo after signing an MOU on QR payment services during the Korea-Vietnam Business Forum in Seoul on Aug. 12, 2025
In-Soo Nam 1
2025-08-14 10:31:12 isnam@hankyung.com
Banking & Finance

Hana Bank, one of South Korea’s leading lenders, said on Wednesday that it has signed an agreement with Vietnam's largest state-owned commercial bank to promote cross-border QR payment services.

The banking unit of Hana Financial Group said it signed a memorandum of understanding with the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) during the Korea-Vietnam Business Forum in Seoul on Tuesday.

The forum was part of the state visit to Korea by To Lam, general secretary of Vietnam’s Communist Party.

Senior government officials and around 500 business leaders from both nations attended the forum, underscoring the importance of the initiative.

Hana said the collaboration will enable consumers and companies in both markets to make and receive payments seamlessly and securely, leveraging the bank’s digital finance expertise and BIDV’s extensive payment network.

Hana Financial Group's super mobile banking app Hana One Q
Hana Financial Group's super mobile banking app Hana One Q

ADVANCED DIGITAL FINANCE TECH

“This partnership combines Korea’s advanced digital finance technology with Vietnam’s broad payment infrastructure,” said Lee Ho-seong, chief executive of Hana Bank. “By building a cross-border QR payment ecosystem that benefits small merchants, tourists and others, we aim to contribute to the economic growth of both nations.”

Hana acquired a 15% stake in BIDV in 2019, establishing a strategic alliance. Through its subsidiary, GLN International, the Korean bank has since expanded joint digital finance projects.

In 2022, GLN and BIDV launched a QR-based cash withdrawal service that allows users of the Hana One Q app to withdraw cash from about 2,100 BIDV ATMs nationwide without a card.

The latest deal will focus on scaling cross-border QR settlements and related global payment services – a move seen as part of Hana’s broader strategy to position itself as a key facilitator of financial connectivity in Southeast Asia.

Write to In-Soo Nam at isnam@hankyung.com

Jennifer Nicholson-Breen edited this article.
#Hana Bank #Vietnam #cross-border QR payment service #Hana Financial Group #Joint Stock Commercial Bank for Investment and Development of Vietnam #BIDV #To Lam #Lee Ho-seong #GLN International #Hana One Q

South Korea, Vietnam to nearly double bilateral trade to $150 billion by 2030

South Korea, Vietnam to nearly double bilateral trade to $150 billion by 2030

South Korean President Lee Jae Myung (first on right) and To Lam (second on left), general secretary of Vietnam’s Communist Party, hold a summit on Aug. 11, 2025  South Korea and Vietnam agreed Monday in Seoul to boost bilateral trade to $150 billion over the next five years, nearly

S.Korea-US summit likely set for Aug. 25; Vietnam’s top leader to fly to Seoul for state visit

S.Korea-US summit likely set for Aug. 25; Vietnam’s top leader to fly to Seoul for state visit

South Korean President Lee Jae Myung (left) and US President Donald Trump South Korean President Lee Jae Myung will likely have a summit meeting with his US counterpart Donald Trump later this month amid a flurry of high-level diplomacy between Lee and other heads of state.According to governme

Korea's Hana Bank to promote foreigners as managers in overseas units

Korea's Hana Bank to promote foreigners as managers in overseas units

(File photo downloaded from PT Bank KEB Hana Indonesia, Hana Bank’s subsidiary in Indonesia) South Korean banks are set to reshuffle overseas units by promoting local staff to management positions, in a bid to boost the sluggish profitability of their overseas operations.Hana Bank, South

Hana Financial’s Hana The Next: New financial services tailored for seniors

Hana Financial’s Hana The Next: New financial services tailored for seniors

Hana Bank CEO Lee Seung-lyul (fourth from left) and TV personality Kang Ho-dong (fifth), the brand’s ad model, and other Hana officials celebrate the launch of the Hana The Next service As South Korea’s baby boomers, the demographic cohort born between 1955 and 1963, are reaching re

Hana Bank at record profit; office bets hit Hana Securities

Hana Bank at record profit; office bets hit Hana Securities

South Korea’s Hana Financial Group on Wednesday reported a dip in net profit in 2023, with record earnings at its flagship Hana Bank offset by massive valuation losses from its brokerage arm’s overseas real estate investments.The country’s leading financial services group pos

Hana Financial scores big with Son Heung-min sports marketing

Hana Financial scores big with Son Heung-min sports marketing

Tottenham Hotspur forward Son Heung-min (left) and Hana Financial Group Chairman Ham Young-joo South Korea’s national soccer team, led by captain Son Heung-min, lost to Brazil 1-5 in a pre-World Cup friendly on Thursday, much to 65,000 Korean soccer fans’ chagrin at Seoul World Cup

(* comment hide *}