WEBVTT 00:00:03.895 --> 00:00:08.682 Ladies and gentlemen, with just a QR code scan, tourists can pay across the 00:00:08.682 --> 00:00:11.075 border between Vietnam, Thailand, Laos and Cambodia. 00:00:11.655 --> 00:00:13.755 This is an important step forward in the digital payment infrastructure. 00:00:14.175 --> 00:00:17.955 However, to expand to many other countries, the system still faces many difficulties. 00:00:22.137 --> 00:00:26.417 Mr. Will, a French content creator, has lived and worked in Vietnam for 5 years. 00:00:26.817 --> 00:00:29.837 He uses the payment method via QR code for all daily transactions. 00:00:30.417 --> 00:00:33.813 However, when mentioning the phrase cross-border payment, for Mr. Will, this 00:00:33.813 --> 00:00:35.357 form is still quite vague. 00:00:36.278 --> 00:00:40.088 I have lived in Vietnam for 5 years, I love Vietnam, and I will be 00:00:40.088 --> 00:00:41.358 here for many more years. 00:00:41.778 --> 00:00:46.503 I know how to pay by QR, I also have a bank account in Vietnam, and it seems 00:00:46.503 --> 00:00:48.078 like I use it every day. 00:00:48.658 --> 00:00:52.326 But I did not know that in Vietnam, cross-border payments can be made using 00:00:52.326 --> 00:00:53.898 QR codes with some other countries. 00:00:54.338 --> 00:00:57.690 I think expanding the form of cross-border payment will be very good, 00:00:57.690 --> 00:01:01.042 because the core problem of tourists is that they do not have 00:01:01.042 --> 00:01:02.438 cash of their own place. 00:01:02.438 --> 00:01:07.158 Therefore, bilateral payment via QR code will be very good for tourists. 00:01:07.758 --> 00:01:10.638 Next time I travel to Laos, I will definitely try this service. 00:01:12.340 --> 00:01:17.100 For many tourists coming to Vietnam for the first time, payment is mainly made in cash. 00:01:18.415 --> 00:01:22.255 We usually carry cash 00:01:22.255 --> 00:01:25.215 Some points we also use progressive cards 00:01:25.215 --> 00:01:26.795 But mostly using cash 00:01:26.795 --> 00:01:29.695 This causes us to spend more than the budget 00:01:29.695 --> 00:01:33.675 We used our face 00:01:45.382 --> 00:01:48.062 I think credit cards are the most convenient form of transaction 00:01:48.062 --> 00:01:52.042 because you can easily find an automatic payment machine, pay by QR code. 00:01:52.582 --> 00:01:56.202 This saves more time than transacting through a bank to get foreign currency. 00:02:17.005 --> 00:02:21.045 If people go to places such as Dubai, France or other countries in the 00:02:21.045 --> 00:02:23.065 European region, payment transactions are extremely easy. 00:02:23.485 --> 00:02:27.148 You just need to scan the QR code of each country. This is much more 00:02:27.148 --> 00:02:29.345 convenient for tourists who can pay in any form. 00:02:29.505 --> 00:02:33.441 Therefore, I think if Vietnam implements cross-border payments, this will be very 00:02:33.441 --> 00:02:37.705 easy for tourists like me to return to Vietnam to travel more often. 00:02:37.705 --> 00:02:41.648 While international tourists face difficulties in paying in Vietnam, for 00:02:41.648 --> 00:02:45.591 many Vietnamese people, whenever traveling or working in countries such 00:02:45.591 --> 00:02:49.140 as Thailand, Laos, Cambodia, cross-border payment services using QR 00:02:49.140 --> 00:02:54.265 codes are still new, many people do not know how to use them. 00:02:55.193 --> 00:02:58.633 I often travel to countries like Thailand or Laos 00:02:58.633 --> 00:03:03.333 But this is really the first time I have heard the phrase payment by international QR code 00:03:03.333 --> 00:03:06.915 For example, in Thailand, you and I will exchange from Vietnamese to Thai silver 00:03:06.915 --> 00:03:08.193 to be able to consume 00:03:08.193 --> 00:03:11.753 I think if we can develop cross-border payments 00:03:11.753 --> 00:03:15.453 So it seems like it will be more convenient for those who love to travel 00:03:15.453 --> 00:03:20.593 Because during my trips, I changed the word from Vietnamese to international currency 00:03:20.593 --> 00:03:23.373 well, sometimes the conversion fee will be a bit high 00:03:23.373 --> 00:03:27.058 Therefore, if there are a few trips, it will generate a lot of money 00:03:27.058 --> 00:03:28.373 compared to the initial plan 00:03:29.973 --> 00:03:33.133 It can be seen that, although there are technical connections with some 00:03:33.133 --> 00:03:34.713 countries such as Thailand, Cambodia, Laos, 00:03:34.713 --> 00:03:38.376 one of the major obstacles is that the network accepting QR payments for 00:03:38.376 --> 00:03:40.913 international tourists when coming to Vietnam is still low. 00:03:40.913 --> 00:03:44.227 The lack of synchronization in the identification of payment QR codes is 00:03:44.227 --> 00:03:48.093 likely to cause confusion between domestic payment QR codes and bilateral payment QR codes. 00:03:48.093 --> 00:03:51.750 Therefore, many spending of tourists in Vietnam often go through international 00:03:51.750 --> 00:03:53.413 cards of Visa, Master card. 00:03:53.413 --> 00:03:56.829 This causes cash flow to not flow directly into the Vietnamese banking 00:03:56.829 --> 00:03:58.253 system, reducing domestic economic benefits. 00:03:59.133 --> 00:04:05.633 When making payments in Vietnam, it will clearly be related to converting foreign 00:04:05.633 --> 00:04:09.133 currencies, converting foreign currencies into Vietnamese Dong. 00:04:09.473 --> 00:04:12.595 Thereby increasing the demand for Vietnamese Dong, that is, increasing the 00:04:12.595 --> 00:04:16.002 demand of Vietnamese Dong, the position of Vietnamese Dong is consolidated in 00:04:16.002 --> 00:04:18.273 the region as well as in international hospitals. 00:04:19.552 --> 00:04:23.153 Some banks are in the process of joining the regional payment alliance, allowing 00:04:23.153 --> 00:04:25.092 customers to scan QR codes across borders. 00:04:25.552 --> 00:04:29.622 However, to widely disseminate and put into practice, deeper cooperation is 00:04:29.622 --> 00:04:32.952 needed between banks, domestic payment intermediaries and international partners. 00:04:33.492 --> 00:04:36.442 When domestic intermediaries are fully participated, cash flow will always flow 00:04:36.442 --> 00:04:38.052 directly into the Vietnamese financial system. 00:04:39.667 --> 00:04:44.090 From the side of a payment supply organization like Vietcombank for 00:04:44.090 --> 00:04:49.719 example, we will have fake reviews to have an overall package of policies as 00:04:49.719 --> 00:04:54.947 well as a product and service to supply to units accepting this payment. 00:04:54.947 --> 00:04:59.350 As for standing on the side of management agencies as well as standing 00:04:59.350 --> 00:05:04.430 on the side of NAPAT for example, we really need to have companionship in the 00:05:04.430 --> 00:05:08.495 beginning to do something first of stability in the technical system so 00:05:08.495 --> 00:05:12.220 that everything goes smoothly and secondly, there is support to accompany 00:05:12.220 --> 00:05:15.946 payment organizations especially in the issue of preferential policies in the 00:05:15.946 --> 00:05:19.672 beginning so that units accept payment, people get acquainted with this 00:05:19.672 --> 00:05:21.027 entire human planning system. 00:05:21.027 --> 00:05:23.708 When there are transactions, when there are more customers, I think 00:05:23.708 --> 00:05:24.927 these things will definitely be... 00:05:26.680 --> 00:05:29.880 Cross-border payments are not only for tourists or businesses 00:05:29.880 --> 00:05:33.840 but also an opportunity for Vietnam to integrate more deeply into the global financial youth. 00:05:34.300 --> 00:05:36.060 This requires a synchronous ecosystem, 00:05:36.380 --> 00:05:40.460 in which the role of banks and payment intermediaries is an important link.