September 2026 Payments & Finance Updates

September 2026 saw continued developments across the Fintech & Payment ecosystem, from the expansion of cross-border payments and changes in payment fee policies to the development of payment infrastructure powered by blockchain and AI.

Here are some of the key developments in Vietnam and around the world.

Global updates

DBS and Citi complete first cross-border USD transaction using tokenized deposits

On September 5, 2026, DBS Bank and Citi’s New York branch completed a cross-border USD transaction between Singapore and the United States over a weekend using tokenized deposits through the Swift Digital Ledger. The transaction was completed within minutes, compared with up to two business days under traditional cross-border payment processes. DBS announced the transaction results on September 7 in Singapore and across the region.

The transaction enabled USD transfers between the two markets outside traditional banking hours, including over the weekend. It was among the first live transactions demonstrating the use of tokenized deposits on distributed ledger infrastructure to support 24/7 cross-border payments.

MAS opens consultation on Singapore’s stablecoin regulatory framework

On September 1, 2026, in Singapore, the Monetary Authority of Singapore (MAS) launched a consultation on proposed amendments to the Payment Services Act 2019 to introduce a regulatory framework for stablecoins in Singapore. The proposals set out requirements for stablecoin issuers seeking MAS regulation, along with measures to safeguard value stability and consumer protection.

The consultation, reference P015-2026, opened on September 1 and is scheduled to close at 11:59 p.m. on October 16, 2026. The proposals are intended to further develop Singapore’s stablecoin regulatory framework as digital assets become increasingly used in payments and on-chain transactions.

Ant International rolls out AI agent payment protocol globally

On September 11, 2026, Ant International announced the global rollout of its Agentic Mobile Protocol (AMP) across the mobile payment ecosystem, with 10 Alipay+ e-wallets and seven payment partners participating in the initial phase. Developed by Ant International, AMP is a payment protocol designed to enable AI agents to conduct transactions across e-wallets, super apps, smart devices, and mobile payment interfaces.

In the initial phase in 2026, participating wallet partners served approximately 1.5 billion user accounts. Meanwhile, the Alipay+ ecosystem currently connects more than 50 mobile payment partners, over 10 national QR networks, approximately 150 million acceptance points, and more than 2 billion consumer accounts. Ant International has also begun working with Mastercard and Visa on a Know-Your-Agent (KYA) framework to support the identification and interoperability of AI agents across payment networks.

UPI to introduce MDR fees from October 15

On September 15, 2026, India’s @UPI operator announced an MDR of 0.4% for certain merchant payment transactions above INR 2,000, ending the fee-free model that had been in place for more than six years. The new policy will take effect on October 15, 2026, rather than immediately in September.

Under the new rules, certain transaction categories will be subject to a fixed fee of INR 5, while transactions above INR 75,000 will be subject to a maximum MDR of INR 300. Small merchants receiving up to INR 100,000 per month through UPI QR payments, along with UPI transactions in rural and semi-urban areas, will remain exempt from the fee.

Vietnam updates

NAPAS hosts seminar on promoting cross-border QR payments

On the afternoon of September 25, 2026, in Hanoi, the National Payment Corporation of Vietnam (NAPAS), in collaboration with VnEconomy / Vietnam Economic Times and the Payment Department of The State Bank of Vietnam , hosted the seminar “Promoting cross-border QR payments: New drivers for retail and tourism.” The event focused on expanding cross-border QR payments and leveraging VietQRGlobal for retail, tourism, and international trade.

According to data presented at the seminar, non-cash payment transactions in Vietnam increased by 34.56% in volume and 13.26% in value during the first eight months of 2026 compared with the same period in 2025. QR payments alone reached 311 million transactions, with a total value of VND 274.2 trillion.

NAPAS, VietinBank and Central Retail sign MOU on Vietnam–Thailand cross-border payment

On September 17, 2026, in Bangkok, as part of Vietnam Week in Thailand 2026, National Payment Corporation of Vietnam (NAPAS) , VietinBank, and Central Retail (Thailand) signed a memorandum of understanding to promote cross-border payments between Vietnam and Thailand through VietQRGlobal.

Under the agreement, the parties will work together to establish cross-border QR payment connectivity across Central Retail’s retail network in Thailand, enabling Vietnamese customers to make QR payments across the group’s participating stores.

State Bank of Vietnam issues Circular 47/2026 on payment system and payment intermediary supervision

On September 24, 2026, in Hanoi, The State Bank of Vietnam issued Circular No. 47/2026/TT-NHNN, amending and supplementing provisions under Circular No. 41/2024/TT-NHNN on the supervision of important payment systems and the provision of payment intermediary services.

The circular introduces and adjusts responsibilities for relevant entities in supervising and inspecting payment systems and payment intermediary service providers, while replacing several appendices to Circular 41/2024/TT-NHNN. The circular will take effect on July 1, 2027, with certain provisions in its appendices taking effect from October 1, 2027.

Vietnam Retail Banking Forum 2026 held under the theme “The Future of Banking with AI”

On the morning of September 30, 2026, in Ho Chi Minh City, the Vietnam Retail Banking Forum 2026 was held under the theme “The Future of Banking with AI: Redefining Services & Financial Ecosystems.” The event was organized by IDG Vietnam in collaboration with HIDS, UEL, VNBA, and VDCA, bringing together representatives from banks, financial experts, and technology companies.

Discussions at the forum focused on the application of AI and data in retail banking, risk management, lending, digital identification, and the development of digital financial ecosystems.

AppotaPay attends TikTok Food Fest 2026, supporting F&B businesses with SmartPOS

On September 25–26, 2026, AppotaPay attended TikTok Food Fest 2026, a food event featuring 62 stalls and attracting approximately 60,000 attendees and check-ins. At the event, SmartPOS AppotaPay was deployed at five F&B stalls, including Boost Juice Vietnam, Chè Bưởi Vĩnh Long, Paoli Sweet Present, Sushi Shin, and June Noodle, supporting in-person payments at the point of sale.

SmartPOS AppotaPay supports multiple payment methods, including cards, QR payments, e-wallets, and contactless payments, meeting the payment needs of F&B stalls during peak periods. Its deployment at TikTok Food Fest 2026 also highlights the applicability of SmartPOS to short-term F&B formats such as food fairs, pop-ups, and events, where businesses need payment devices that can be set up quickly and support multiple payment methods.

In addition to the event, AppotaPay continued its collaboration with F&B businesses in September, including Lufina Mexican Grill, whose online ordering website integrated the AppotaPay Payment Gateway. From September 10–27, customers could receive 10% off, capped at VND 30,000, on orders of VND 200,000 or more when paying via supported methods.

Connect with AppotaPay today:

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