Vietcombank participates in the event "Launching VIETQRCash service"

In order to continue implementing Decision No. 810/QD-NHNN dated May 11, 2021 of the Governor of the State Bank on the plan for digital transformation of the banking sector by 2025, with a vision to 2030, on August 7, 2023, in Hanoi , the National Payment Corporation of Vietnam (NAPAS) coordinated with banks to organize the event "VietQRCash Service Launch Ceremony". The event is an important milestone in expanding the application of VietQR code from interbank money transfer to interbank cash withdrawal. The event was attended by leaders of the State Bank of Vietnam (SBV), the Banking Association, NAPAS and member banks.

Leaders of the State Bank of Vietnam and units perform the launching ceremony of VietQRcash

The VietQR standard deployed by NAPAS was first launched in June 2021 based on the basic QR Code standard set issued by the State Bank of Vietnam to be applied to the entire market, to connect and switch payment transactions and money transfers using QR codes. Up to now, the method of transferring money/payment by scanning VietQR codes has been favored and used by many customers in daily spending and payments because of its speed, convenience and safety.

In order to continue expanding the application of VietQR code, NAPAS has coordinated with banks to develop a cash withdrawal service via ATMs connecting banks using VietQR code (service name VietQRCash). In the initial phase of service implementation, customers with domestic debit cards and using mobile banking applications (Apps) of banks including: Vietcombank, BIDV, VietinBank, Agribank , Saigonbank, Sacombank, NCB and NAM A BANK can withdraw money on the ATM systems of 6/8 banks (currently not including ATMs of NCB and NAM A BANK) through the method of scanning VietQR code without having to carry a physical card.

Deputy Governor of the State Bank of Vietnam Pham Tien Dung experiences interbank cash withdrawal using VietQRcash code at Vietcombank ATM

Cash withdrawal transactions are simple and fast. Customers only need to access the bank App to scan the QR code displayed on the ATM screen. After selecting the card type (in case of multiple cards), customers choose the amount to withdraw on the App or on the ATM and complete the authentication step. The transaction limit and fee are similar to the current regulations for interbank cash withdrawal transactions on ATMs using domestic debit cards.

INSTRUCTIONS FOR USING VCB DIGIBANK APP

TO WITHDRAW CASH INTERBANK VIA QR CODE

Step 1: Go to the ATM of the banks that provide the service, select the function of Withdrawing money using QR code/VietQRcash

Step 2: Open VCB Digibank App >> QR Service >> Scan QR code/VietQRcash on ATM screen

Step 3: Select card account and select the amount to withdraw on VCB Digibank screen

Step 4: Enter card PIN at ATM

Step 4: Complete the transaction and receive money from the ATM.

VCB News

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