Vietnam – The Vietnam Payment Solution Joint Stock Company or VNPAY has entered into a partnership with global payments company Visa to improve the digital payment experience in Vietnam.
Through the partnership, Visa and VNPAY will bring digital payments closer to Vietnamese users by strengthening and expanding the network of partners accepting electronic payments, and cooperating to deploy new services to users as well, including a solution to accept contactless payments via mobile phones (Tap to Phone), Visa prepaid virtual cards, Visa Direct money transfer and receipt services and instalment solutions Visa Installment Solution (VIS).
In addition, Visa and VNPAY will launch several payment solutions in the local scene, typically a solution to accept contactless payments via mobile phones (Tap to Phone). When merchants deploy this solution, any Android smartphone or tablet can become a contactless payment acceptor, operating on a software application and no hardware support is required.
Nguyen Tuan Luong, vice chairman of the board of directors at VNPAY, said, “Visa is the world’s leading multinational payment technology company. VNPAY believes that the strategic partnership with Visa will continue to promote digital payment trends, bringing many useful solutions to users and business partners in VNPAY’s network. This also makes the digital transformation process of businesses easier, creating stronger and more sustainable growth through electronic payment solutions.”
Meanwhile, Dang Tuyet Dung, director of Visa Vietnam and Laos, commented, “The strategic partnership with VNPAY will accelerate the ongoing digital transformation and cashless payment process in Vietnam. Along with making VNPAY partners and users a part of Visa’s secure and reliable digital payment ecosystem, the deployment of digital capabilities of both sides also helps to expand the electronic payment network. death of Visa and drive adoption of contactless payments.”