SmartPay is currently one of the payment solution providers that always emphasizes research and development of technology and services to enhance digital transformation, turning digital transformation into a comprehensive solution for all needs of F&B services, including restaurants, schools and hospital cafeterias, food delivery services...
According to the food business market report by the end of 2022, Vietnam has nearly 338,600 restaurants/cafes, with the estimated F&B industry revenue reaching nearly 610,000 billion VND, of which 333,690 billion VND comes from the eating out market.
Although up to 46.5% of nearly 3,000 surveyed restaurants/cafes have not yet sold online, 82.8% of F&B businesses have started their digital transformation journey, mainly applied in sales activities and warehouse and material management...
Many trends in cashless payments in Vietnam have been shared.
Ms. Nguyen Thi Trong Phu - General Director of SmartPay shared: "F&B food and beverage vendors" currently account for more than 30% of SmartPay's customer structure and we identify this as an important segment because the F&B industry is implementing digital transformation the fastest. In particular, the Covid-19 pandemic has made cashless and contactless payments a priority, so businesses need to transform to respond to changes in customers' shopping and payment behavior. After the pandemic, many F&B businesses have also known how to use multiple platforms to sell instead of focusing only on on-site sales as before, they also clearly see the importance of having customer data to retain loyal customers and develop new customers to increase sales revenue. Therefore, although digital transformation is not mandatory for all businesses, they must transform digitally to be successful.
However, digital transformation is something that has been strongly promoted by large enterprises, while small retail businesses are a segment that lacks investment and service. This stems from a number of reasons such as difficulties in implementation, limited investment funds or little attention from financial institutions or payment services. Therefore, Ms. Trong Phu said that SmartPay wants to help support small businesses to accelerate digital transformation, thereby improving their competitiveness.
To make a difference, SmartPay understands the risks and difficulties that small businesses face to develop and innovate suitable technology, with low initial investment costs for easy deployment in medium, small and micro businesses. One of the proofs of this is that 50,000 SmartBox money receiving devices with a total value of 25 billion VND will be given away for free by SmartPay to small businesses from May this year. The SmartBox device is capable of immediately sending out notifications when a successful transfer is received, helping sellers get used to electronic payment methods and feel more secure in doing business. The device has a compact design, can quickly connect to Wi-Fi and 4G. In addition, SmartPay also provides SmartQR code scanning service with the advantage of accepting all forms of transfers from all banking applications to e-wallets completely free of charge.
In addition, SmartPay also integrates sales management software into the SmartPOS payment device to help F&B sellers accept payments through all forms such as QR code scanning, bank card swiping, etc.; Manage orders, revenue and expenditure, staff management, promotional programs and issue electronic invoices through a single device.
The current limitation in digital transformation is that many customers are not ready to accept it, especially in rural areas. To support the change in mindset in rural areas, SmartPay creates conditions for users and retail stores across the country to access the company's products. Ms. Phu believes that this is only part of the effort to change the mindset of digital transformation because it also requires the efforts of the whole society.
Mr. Marek Forysiak - founder of SmartPay believes that the trend of cashless payments will explode in Vietnam in the near future.
SmartPay founder Marek Forysiak, who targets small and medium-sized businesses, sees cash as the company’s biggest competitor. The company expects cash payments to fall from 100% five years ago to 70-80%, and even further by 2025.
Sharing with Thanh Nien about SmartPay's information security issue, Mr. Forysiak affirmed that the company's staff spends a lot of time and effort to protect the identity and money of the company's customers. This is the most important point of money transfer and receiving platforms in general and SmartPay in particular.
Mr. Forysiak believes that SmartPay’s efforts to provide a variety of solutions to boost business operations have made it an indispensable companion for businesses in the retail industry. In the future, SmartPay hopes to continue its digital transformation efforts by being ready to develop products and services that help approximately 4 million small, medium and micro businesses optimize their business.
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