QR code payments are becoming a global rail — Vietnam is testing what comes next

From payment method to global-scale infrastructure 

According to a report by The Business Research Company, the global QR code payment market is estimated to reach approximately USD 16.64 billion in 2025 and expand to USD 38.04 billion by 2030, maintaining a compound annual growth rate (CAGR) of around 17.7%. In the near term, the market is projected to grow to USD 19.81 billion in 2026, with a CAGR of approximately 19.1%.

According to GSMA, as of October 2023, around 54% of the global population — equivalent to 4.3 billion people — owned a smartphone. As end-user devices become ubiquitous, QR has emerged as the fastest way to scale digital payments.

In Asia, QR has become the default standard in retail payments. A 2023 survey by the Payment & Clearing Association of China reported that QR usage in China reached 92.7%. South Korea continues to promote QR code payments through consumer incentives and discounts. Against this backdrop, Vietnam is emerging as one of the fastest-growing markets. 

QR code payment in Vietnam: Rapid growth and cross-border readiness

According to data from the State Bank of Vietnam, in the first nine months of 2025, QR code payment transactions increased by 61.63% in volume and 150.67% in value compared to the same period last year, with millions of acceptance points nationwide. QR has become a familiar payment method across retail, F&B, transportation, and particularly tourism.

More importantly, Vietnam is expanding beyond its domestic scope. Banking connections have been implemented with China, Thailand, Laos, and Cambodia, allowing users from either country to scan QR codes and make payments in the other using their domestic bank accounts or e-wallets. Efforts to finalize and expand cooperation with additional regional markets are ongoing.

As QR moves beyond national borders (QRGlobal), it is beginning to function as intermediary infrastructure for tourism flows, trade in services, and cross-border transactions. This creates new opportunities for international partners seeking to connect to the Vietnamese market through a widely adopted payment layer. 

9Pay: Connecting domestic QR code payment to global money flows

As a licensed PSP authorized by the State Bank of Vietnam, 9Pay is recognized as one of the early movers in cross-border payments, offering a range of solutions including e-wallets, payment gateways, and collection and disbursement services.

As QR code becomes a global payment trend, 9Pay has completed the development of a QR scanning solution for international e-wallets and applications, enabling their users to make payments in Vietnam conveniently and seamlessly through their apps.

Notably, becoming a member of IFC in Da Nang has opened opportunities for 9Pay to pilot new payment models, including the application of digital assets such as Stablecoin-to-QR payments, within a regulatory framework. In the future, international users and tourists may be able to use stablecoin balances held in international e-wallets to scan QR code and pay in Vietnam in a lawful and secure way.

Vietnam is positioning itself not only as a high-growth market but also as a testing ground for next-generation payment models. For international partners, the question is no longer whether QR code payment will continue to scale, but which connectivity model to adopt in order to participate in the payment infrastructure taking shape in Vietnam.