Complete digital payment ecosystem from VPBank

No longer a trend, one-touch payment is now a way of life. With a comprehensive suite of digital payment solutions, Vietnam Prosperity Joint Stock Commercial Bank ( VPBank ) is a pioneer in shaping the future of digital banking in Vietnam.

The era of "one touch" reigns

In the context of digital transformation creating big boosts for the economy , the Vietnamese banking industry is also witnessing a strong transformation, especially in the payment sector. From buying a cup of coffee in the morning, ordering lunch to booking airline tickets, users today almost do not need cash. Everything is solved with just a light touch. In that wave, VPBank has emerged as one of the pioneering commercial banks in building a smart and convenient digital payment ecosystem, not only demonstrating the bank's technological capacity, but also shaping the digital lifestyle for young users.

No need for cash, physical cards or POS machines, just with a smartphone – Vietnamese users, especially young people, are experiencing the “touch to spend” financial lifestyle.

According to statistics from the State Bank, the average annual growth rate of cashless payments is over 50%. The image of a phone scanning a QR code or touching a payment device has become familiar in cafes, cinemas, and shopping malls.

“Going to a coffee shop, scanning QR codes, going shopping, just touch your iPhone to the POS machine. All transactions are contained in one device, fast - convenient - safe,” Hoai Anh (22 years old, student at the National Economics University) shared.

Safety, convenience, modernity and easy financial control are the reasons why one-touch payment has become the new norm among young people. And VPBank - a leading bank in digital technology - has been developing a payment ecosystem that is not only fast, secure, safe but also extremely flexible for users of all generations.

Complete digital payment ecosystem

Not stopping at one product, VPBank owns a complete set of "one-touch" payment solutions - meeting modern spending needs from young individuals to small businesses.

For technology lovers, Tap & Pay is the “ultimate weapon” for unlimited spending. VPBank is one of the few pioneering banks in Vietnam to simultaneously integrate a series of international payment methods such as Apple Pay, Google Pay, Samsung Pay, Garmin Pay. With Tap & Pay, VPBank credit and debit cards can be easily activated for use on mobile devices and smart watches, opening up an instant payment experience at millions of points of sale worldwide.

“I can sometimes forget about my physical card, but my phone is always with me. Whenever I need to pay, I just need to touch my smartphone or Garmin watch, no need to enter a password or open an app. It feels very “trendy,” Khanh Ngoc (24 years old, Marketing staff - freelancer) said.

VPBank Tap2Phone is easily integrated into existing counter sales management software. (Photo: Vietnam+)

In addition, in the Tap & Pay “universe”, VPBank also provides VP Pay exclusively for customers who are VPBank’s international Visa credit/debit cardholders. This is a safe and simple form of digital payment, helping customers shop, spend and manage all transactions with the VPBank NEO banking application without having to carry a physical card.

Along with that, Pay by Account - a "one-touch" payment feature that VPBank cooperates with Mastercard to allow customers to pay directly with their bank accounts without using cards or wallets - is being widely deployed by VPBank at points of sale and partner ecosystems.

Not only is VPBank a pioneer in NFC, it is also actively expanding its QR code payment network. With the QR Pay feature in the digital banking application, customers can scan the code to pay at tens of thousands of points of sale, from milk tea shops, convenience stores to online stores. QR Pay is especially loved by Gen Z because of its flexibility, ease of use, control, fast transactions and extreme safety.

Another revolutionary solution of VPBank is Tap2Phone. This is a technology that allows Android devices with NFC connection to become mobile POS machines, helping small traders, business households, startups or freelancers to accept card payments without investing in additional specialized equipment. Tap2Phone is being actively deployed by VPBank in traditional markets, trade fairs and small business communities, bringing convenience, increasing customer experience, and helping sellers increase their ability to close deals effectively.

“Before, I only accepted bank transfers or cash, but now I can hold my phone for customers to swipe their cards. The transaction looks much more professional, and there is no need to invest in machinery,” said Ms. Minh Huyen (32 years old, cosmetics shop owner).

All in one app - tap and go

Not just technology, VPBank builds solutions with a focus on user experience. With the VPBank NEO application, all utilities such as Tap & Pay, QR Pay, VP Pay... are smoothly integrated, without the need for multiple logins or complicated operations. With AI technology and data analysis, VPBank also personalizes incentives and services according to each customer's behavior - aiming for a true "smart bank" model.

“VPBank’s app is really convenient. From opening a card, linking Apple Pay to making payments – everything is smooth and fast,” commented Anh Thu (21 years old, Information Technology student).

Gen Z is a generation that does not have much patience for complicated operations - something that VPBank understands and has optimized right from the first digital experience design.

VPBank's thorough investment in the digital payment ecosystem is not only to retain customers, but also a long-term strategy in the journey to build a comprehensive digital bank.

By the end of 2024, VPBank NEO has attracted more than 10 million users with more than 700 million online transactions per year, about 1.2 million customers making a total of 2.5 million visits to VPBank NEO per day.

From a small touch - VPBank is contributing to opening the big door to a cashless society, without limits, without technological barriers. And with a diverse, modern and youthful digital payment ecosystem - the bank is not only meeting but also leading the digital consumption trend in every beat of modern life./.

(Vietnam+)

Source: https://www.vietnamplus.vn/he-sinh-thai-thanh-toan-so-tron-ven-tu-ngan-hang-vpbank-post1041204.vnp