Fintech firms expand digital financial services

The event marks an important milestone in the partnership between one of Vietnam’s largest state-owned banks and a fast-growing fintech company in the retail and international payments sectors.

According to the agreement, AppotaPay and BIDV will jointly deploy three key payment services: support for collection via identified accounts (VA) for small traders, support for 24/7 payment and e-wallet. These solutions are currently widely applied in retail systems, agents and businesses in Hanoi and Ho Chi Minh City, contributing to increasing access to cashless payments for people and businesses.

This is a strategic move to expand digital financial services to customers who face many barriers in accessing banking infrastructure – such as small traders, individual businesses and traditional retail models.

Representatives of AppotaPay and BIDV at the cooperation signing ceremony.

In particular, in the next phase, the two sides agreed to prioritize the implementation of three new services: SmartPOS - payment solution at the point of sale, Cross-border and International Payment Gateway, to meet the rapidly growing demand for cross-border trade and tourism in Vietnam.

Mr. Dao Tuan Anh - CEO of AppotaPay expects that with the support of BIDV, AppotaPay can grow 6 times in the next two years, especially through the implementation of strategic services such as: SmartPOS (payment solution at the point of sale for retail chains, supermarkets, F&B) and SoftPOS, targeting small stores, mobile carts and mobile sales teams thanks to the advantage of not needing to invest in fixed equipment.

In addition, AppotaPay also wishes to expand cooperation with BIDV in a number of potential areas such as: establishing a cross-border payment corridor to Thailand, Laos, Cambodia and China - serving international tourism and trade; developing an international payment gateway to support merchants in accessing loans from BIDV; at the same time, expanding the network of payment acceptance points at home and abroad, combining the implementation of co-branded marketing campaigns to increase market presence.

Sharing about the cooperation orientation, Ms. Nguyen Thi Yen - Sales Director of the Northern region of AppotaPay said that the two sides are actively synchronizing infrastructure and implementation processes in many provinces and cities, especially prioritizing areas with high density of traditional retail.

“In the next quarter, we aim to expand SmartPOS services to retail chains, mobile vehicle systems and stores serving international tourists. At the same time, Cross-border services and International Payment Gateways are also being prioritized for research to support transactions for export businesses, e-commerce and the tourism industry,” Ms. Yen added.

Nguyen Duc

Source: https://doanhnghiepvn.vn/kinh-te/tai-chinh-ngan-hang/doanh-nghiep-cong-nghe-tai-chinh-mo-rong-dich-vu-tai-chinh-so/20250426100926871