NAPAS partners with VNPAY to expand the digital ecosystem.

(Chinhphu.vn) - On February 11, the Vietnam National Payment Corporation (NAPAS) and the Vietnam Payment Solutions Corporation (VNPAY) signed a comprehensive cooperation agreement, focusing on developing the digital payment ecosystem and deploying the cross-border QR code service VIETQRGlobal.

Mr. Pham Anh Tuan - Director of the Payment Department (State Bank of Vietnam) speaking at the event - Photo: VGP

The signing ceremony was attended by representatives from the State Bank of Vietnam and leaders from both organizations. According to the agreement, the two parties will cooperate on various aspects, focusing on cross-border payment services using QR codes under the VIETQRGlobal brand. This event marks a significant step forward in the cooperation between NAPAS and VNPAY , aiming to promote the payment ecosystem, apply new technologies, and expand services.

Under the direction of the State Bank of Vietnam, and in its role as the national retail payment infrastructure, NAPAS has expanded its cooperation with partners in the financial and banking system over the years to develop a digital payment ecosystem that is safe, synchronized, and efficient.

In this context, the signing of a comprehensive agreement between NAPAS and VNPAY is being implemented to expand the scope of service provision, increase convenience, and enhance the experience for domestic users as well as international tourists.

Representatives from NAPAS and VNPAY sign a cooperation agreement - Photo: VGP

According to the agreement, the two parties will cooperate in developing key service groups such as NAPAS 247 express transfer and VIETQRPay QR code payment. In addition, the two entities aim to expand their product portfolio in stages to meet market demands.

Cross-border payment via QR code – VIETQRGlobal – is a key aspect of this collaboration. Accordingly, international tourists visiting Vietnam can make payments by scanning the VIETQRGlobal code at participating payment points within the VNPAY network. Conversely, Vietnamese users can use the VNPAY app to scan QR codes and make payments at participating NAPAS partner locations abroad.

To support service identification, NAPAS is collaborating with partners to implement a unified "VIETQRGlobal" brand identity across its network of payment acceptance points.

NAPAS and VNPAY will cooperate to develop several key service groups - Photo: VGP

Speaking at the signing ceremony, Mr. Nguyen Quang Minh, General Director of NAPAS, said that the cooperation agreement is a milestone in the roadmap to expand the digital payment ecosystem in general and the cross-border payment acceptance network in particular. Accordingly, through VNPAY's network of payment acceptance points, the deployment of VIETQRGlobal is expected to achieve higher efficiency, meeting the increasing payment needs of Vietnamese people and international tourists, thereby contributing to promoting trade, tourism and Vietnam's international financial integration.

Mr. Le Tanh, Vice Chairman of the Board of Directors and General Director of VNPAY, emphasized that the cooperation reflects a shared vision and complementary capabilities between the two entities. Through this collaboration, both sides aim to develop more convenient, secure, and efficient payment solutions, making digital payments a familiar part of socio -economic life.

The comprehensive cooperation agreement between NAPAS and VNPAY is being implemented with the aim of promoting cashless payments, developing the digital economy, and integrating into the international financial system. Therefore, it also opens up more opportunities for deeper cooperation in the future.

NAPAS is a payment intermediary licensed by the State Bank of Vietnam to provide financial switching, international financial switching, and electronic clearing services. In its role of developing the national retail payment infrastructure, NAPAS collaborates with banks, payment intermediaries, and partners to provide new and modern payment services, thereby developing a cashless payment ecosystem in Vietnam and expanding international connectivity.

VNPAY is a fintech company in Vietnam, collaborating with over 40 domestic and international banks and payment organizations to develop payment services. These services include Mobile Banking, Omnichannel Banking, eKYC, Soft OTP authentication, biometrics, and many other solutions.

VNPAY connects with thousands of businesses and suppliers to develop a service ecosystem on its banking application and VNPAY App, serving customers' shopping, transportation, and entertainment needs. In addition, the company provides solutions such as electronic payment gateways, VNPAY-QR, VNPAY-SmartPOS, VNPAY-PhonePOS, VNPAY B2B, VNPAY-Invoice, VNPAY-CA, and VNeDOC.

VNPAY's products and services utilize technologies such as cloud computing, artificial intelligence, big data, and blockchain to meet the transaction needs of partners and users.

Mr. Minh

Source: https://baochinhphu.vn/napas-hop-tac-with-vnpay-mo-rong-he-sinh-thai-so-102260211190553839.htm