With the implementation of QR code payment options, Russians can now make purchases in Vietnam without the use of cash orcards.
In an exciting development, VTB, the joint venture between VTB and BIDV, is set to launch a new payment method for foreign tourists in Thailand. The TouristDigipay scheme, scheduled to start in the fourth quarter of 2025, aims to replace the traditional use of cash and credit cards by tourists.
The TouristDigipay scheme is not related to the QR-code service offered by VTB in Vietnam, but it does allow VTB clients to pay for goods and services using QR codes. This service is specific to VTB, as it is the only bank in Vietnam that supports Mir cards.
Under the TouristDigipay scheme, digital assets will be converted into baht, and sellers will receive payments only in the national currency. Direct payment with digital assets is not allowed, but the new service will facilitate the conversion of digital assets into baht for foreigners.
The transactions facilitated by this service will be conducted in rubles and dong, reflecting VTB's expertise in handling transactions in these currencies. The bank, founded by VTB and BIDV, will handle the TouristDigipay scheme, and the service will be accessible through a mobile app.
Last year, VTB's share in the trade turnover between Russia and Vietnam was approximately 40%, highlighting the bank's significant role in the region. The new service is expected to enhance tourists' comfort when visiting Vietnam.
It's important to note that the 18-month pilot program for the TouristDigipay scheme in Thailand will start in the fourth quarter of 2025. The expenditures under the scheme are limited to 500,000 baht per month. The service is not expected to be handled by VTB (the joint venture between VTB and BIDV) or to be accessible through a mobile app.
While the bank founded in Russia by VTB and BIDV that is currently the only bank in Vietnam supporting Mir cards is not explicitly named in the available search results, the TouristDigipay scheme is expected to be a significant step forward in promoting digital payments for foreign tourists in Thailand. The service is set to be launched before the new year, marking a new era in tourism payments.
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