Vietcombank participated in the "VIETQRCash Service Launch" event.

To continue implementing Decision No. 810/QD-NHNN dated May 11, 2021, of the Governor of the State Bank of Vietnam on the plan for digital transformation of the banking sector until 2025, with a vision to 2030, on August 7, 2023, in Hanoi , the Vietnam National Payment Corporation (NAPAS) collaborated with banks to organize the "VietQRCash Service Launch Ceremony". This event marked a significant milestone in expanding the application of VietQR codes from interbank money transfers to interbank cash withdrawals. The event was attended by leaders from the State Bank of Vietnam (SBV), the Vietnam Banking Association, NAPAS, and member banks.

Leaders of the State Bank of Vietnam and other units performed the ceremony to launch VietQRcash.

The VietQR standard, first implemented by NAPAS, was launched in June 2021 based on the basic QR Code standard issued by the State Bank of Vietnam for general application across the market, aiming to connect and switch payment and money transfer transactions using QR codes. To date, the method of transferring money/making payments by scanning VietQR codes has been favored and used by many customers in their daily spending and payments due to its speed, convenience, and security.

To further expand the application of VietQR codes, NAPAS has collaborated with banks to develop an interbank ATM cash withdrawal service using VietQR codes (service name: VietQRCash). In the initial phase of the service, customers with domestic debit cards and using the mobile banking applications of banks including Vietcombank, BIDV, VietinBank, Agribank , Saigonbank, Sacombank, NCB, and NAM A BANK can withdraw cash from ATMs of 6 out of 8 banks (currently not including NCB and NAM A BANK ATMs) by scanning VietQR codes without needing to carry a physical card.

Deputy Governor of the State Bank of Vietnam, Pham Tien Dung, experiences withdrawing cash from an interbank account using the VietQRcash code at a Vietcombank ATM.

Withdrawal transactions are simple and fast. Customers only need to access the bank's app to scan the QR code displayed on the ATM screen. After selecting the card type (if multiple cards are used), customers choose the amount to withdraw on the app or at the ATM and complete the verification process. The transaction limits and fees are similar to the current regulations for interbank ATM withdrawals using domestic debit cards.

INSTRUCTIONS FOR USING THE VCB DIGIBANK APP

TO WITHDRAW CASH BETWEEN BANKS VIA QR CODE

Step 1: Go to an ATM of a bank offering the service and select the "Withdraw cash using QR code/VietQRcash" function.

Step 2: Open the VCB Digibank app >> QR service >> Scan the QR code/VietQRcash on the ATM screen.

Step 3: Select your card account and choose the amount you want to withdraw on the VCB Digibank screen.

Step 4: Enter your card PIN at the ATM.

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

VCB News

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