Vietnam Woori Bank, the first local foreign bank to launch ‘Thailand QR payment service’ < Economy & Finance < Article

Vietnam Woori Bank (CEO Jong-il Park) announced on the 19th that it has launched the ‘Thailand QR Payment Service’ for the first time among local foreign banks.

The ‘Thailand QR Payment Service’ is a project promoted by Woori Bank Vietnam together with ‘NAPAS (National Payment Corporation of Vietnam),’ a Vietnamese state-owned payment intermediary network operator.

This service connects the payment networks between Vietnam and Thailand, allowing payment in Vietnamese currency without the need for separate currency exchange at ‘Prompt Pay’ and ‘Thai QR’ merchants in Thailand.

Anyone who has installed and used ‘WooriWON Vietnam’, the mobile banking service of Woori Bank Vietnam, can use it without installing a separate app. Scan the QR code installed at the Thai merchant and enter the payment amount, and the money will be immediately withdrawn from the Woori Bank Vietnam account and deposited directly into the merchant account. The payment fee is 0.22%, which is cheaper than the local credit card payment fee of 3-4%.

A representative of Woori Bank Vietnam said, “The Thai QR payment service is a service that eliminates the hassle of having to exchange money or install a separate payment app when visiting Thailand from Vietnam,” and added, “In the future, Woori Bank Vietnam plans to expand its QR payment service to countries near Vietnam, such as Cambodia and Laos.”