Promoting contactless payments

DNVN - Continuing to participate in the concentrated promotional month program in Ho Chi Minh City and the concentrated promotional program in Hanoi , the Vietnam National Payment Corporation (NAPAS), in collaboration with Mastercard, is launching a nationwide promotional program to promote contactless payments.

Contactless card payments are increasingly asserting their importance in the digital economy , offering consumers superior convenience, high security, and fast transaction speeds.

Currently, contactless chip card technology has been widely adopted worldwide , especially in developed countries. According to data from NAPAS, as of the end of the first quarter of 2024, the total number of domestic chip cards (NAPAS cards issued by Vietnamese banks/financial companies) on the market has reached over 58 million cards.

Contactless payment transaction volumes at banks are showing a positive growth trend, indicating consumer interest in and preference for this payment method. One of the key factors contributing to this is the attractive promotional programs specifically for contactless payments that NAPAS has implemented in collaboration with banks and card organizations in recent times.

This promotional program is being implemented at KOI The.

Following that success, this year's program, implemented by NAPAS in collaboration with Mastercard, has expanded in scale and duration, with a total program budget of up to 15 billion VND and the participation of nearly 40 major partners in fields such as food services, retail technology, cosmetics, entertainment, pharmaceuticals, education, etc., through the system of more than 6,000 points of sale of brands belonging to Payoo's payment acceptance network.

During the specific period of each promotional program, customers will receive discounts, either in monetary amounts or as a percentage of the order value, when shopping and paying with contactless NAPAS and Mastercard cards issued by banks/financial institutions. Customers can enjoy these shopping deals, especially during the two peak seasons: summer and the year-end holiday season.

Sharing his thoughts on the program's significance, Mr. Nguyen Quang Minh, General Director of NAPAS, said: "With its easy and convenient payment features, along with the secure and highly protected chip card technology, domestic cards have become a familiar payment method for many people."

Over the years, NAPAS has also collaborated with many large and reputable partners to implement promotional programs aimed at enhancing communication about the benefits of using card payments to the public and stimulating cashless payment habits. Through its cooperation with Mastercard in this year's major promotional campaign, NAPAS hopes not only to stimulate shopping and boost domestic production and business but also to bring positive values ​​through community activities, especially spreading the benefits of cashless payments and promoting a change in spending habits to contactless payment card technology.”

Representing Mastercard, Ms. Winnie Wong, Country Director of Mastercard in Vietnam, Laos, and Cambodia, also shared: “Within the framework of this collaboration, Mastercard will continue to leverage advanced technology and global expertise to deliver suitable solutions that meet the needs of our partners, businesses, organizations, and people in Vietnam. Through collaboration with like-minded partners, Mastercard is building a comprehensive payment ecosystem that enables everyone to participate in the digital economy, thereby promoting cashless payments in Vietnam.”

To accelerate Vietnam's digital transformation, consumers are increasingly demanding seamless and convenient payment methods. Mastercard is addressing this need by fostering strong public-private partnerships. These partnerships have achieved considerable success, encouraging consumers and businesses to adopt cashless payments, particularly contactless payments, for everyday transactions. This is a significant step forward, paving the way for the widespread adoption of digital payments and financial inclusion across Vietnam.

Nguyen Duc

Source: https://doanhnghiepvn.vn/kinh-te/tai-chinh-ngan-hang/day-manh-thanh-toan-khong-tiep-xuc/20240701050635342