Due to the complicated nature of the novel coronavirus (COVID-19) pandemic, this represents the optimal form of payment as it serves to limit the contact and spread of the disease which may occur from making cash payments.
According to the latest figures provided by a VNPAY representative, VNPAY-QR has enjoyed strong growth across all aspects, with the number of VNPAY-QR payment transactions during the first quarter of the year expanding by 300% compared to the same period from last year. This is along with payments rising by up to 100,000, with this figure set to continue expanding moving forward.
Most notably, VNPAY has moved to strengthen links with many major banks, including Vietcombank, VietinBank, BIDV, and Agribank, with a specific view to helping users gain easy access to modern payment methods, with the data of a large number of customers integrating with utility on Mobile Banking.
At present, VNPAY-QR has linked with more than 30 banks and eight e-wallets. March saw VNPAY launch its latest version of the VNPAY e-wallet, featuring VNPAY-QR integration that allows any customers to use this form of payment.
Furthermore, VNPAY-QR covers all sectors and services, ranging from supermarkets, transportation, telecommunications, health care, education, catering services, and to cinemas, thereby bringing a convenient shopping experience to customers. There is also a QR code for payments which are capable of meeting the “standard QR Code basis” set by the State Bank of Vietnam.
Along with attracting fresh customers through convenient service experiences, VNPAY has continued to offer a range of promotions that aim to change the habits of users from cash payments to payments via VNPAY-QR code. Since late 2020, VNPAY has moved to implement a promotional scheme known as “Scan VNPAY-QR, for cars and houses”, with many valuable prizes on offer, such as luxury apartments, motorbikes, phones, and laptops, which were awarded to customers.
Ngo Anh Tuan, director of VNPAY-QR, outlines the firm’s vision by stating, “VNPAY is going ahead with promotional programmes to thank customers who are using the VNPAY-QR payment method. For customers who still use cash, these valuable gifts will motivate them to change their habits of switching to mobile payments by scanning QR codes. Our ultimate goal is to bridge the gap towards a cashless society in Vietnam as quickly as possible.”
With great potential existing in terms of service and customer market, VNPAY-QR services hope to create changes in Vietnamese payment habits whilst increasingly asserting its position in e-payments, which is seen as a smart, modern, safe, and optimal payment system for customers.