|Companies such as VNPAY are facilitating a smoother transition for Vietnam as the world becomes less reliant on cash and more comfortable with paying for items electronically|
Vietnam Payment Solution JSC (VNPAY) was ranked among the top 10 at the Sao Khue Awards in Hanoi thanks to two products: the VNPAY-QR system and the QR-MMS payment management system.
Le Tanh, general manager of VNPAY, said at the ceremony, “Compared to other mobile payment solutions on the market today, VNPAY-QR and QR-MMS are most appreciated because of their speed and convenience. Customers do not need to perform multiple installation steps and businesses need not spend too much time on installation or personnel training.”
“This is because we place customer benefits as the main focus in development,” Tanh added. “The continuous application of new technologies and expanding payment points is what we are striving to achieve.”
The Sao Khue Awards are a programme that selects and recognises outstanding and reputable products and services in Vietnam’s software and IT industry, organised annually by the Vietnam Software Association. All products and services recognised at this year’s event were professionally evaluated by more than 40 experts on an appraisal board, with winners boasting outstanding quality and efficiency, continual customer trust, and a competitive advantage in the market.
Through two preliminary rounds and live presentations, a general council decided to present Sao Khue Awards this year to 94 IT products and services, and also selected the 10 best based on criteria such as socio-economic efficiency, brand reputation, revenue, market share, and innovation and breakthrough technology.
VNPAY-QR payment solutions
As one of the pioneering enterprises in the field of electronic payments in Vietnam, the main focus of VNPAY is investing in research and implementing new cashless payment methods, with a view to gradually shaping a smarter life for Vietnamese people with a quick and convenient experience through just a few mobile phone operations.
Award-winning VNPAY-QR is one of the company’s key products. The payment method solution uses QR Pay features on the mobile apps of banks and international payment accounts such as Visa, Mastercard, JCB, UnionPay, and electronic wallets. Through this method, there is no need to carry cash or bank cards. Customers can easily pay with their mobile phone in a fast and confidential way. For businesses, the implementation of payment methods via a VNPAY-QR code is a cost-efficient solution in terms of investment, installation, and personnel.
Businesses also have more opportunities to expand promotions and sales and reach a larger number of customers.
After nearly two years in operation, VNPAY-QR is now participating with 20 banks in adopting the QR Pay feature and has nearly 10 million customers and more than 20,000 payment points.
Customers can easily scan to pay when dining, shopping, taking taxis, paying cable TV, Internet, and electricity bills, and shopping online, as VNPAY-QR has been and is spreading to all areas of life and becoming a new payment habit among a significant proportion of Vietnam’s population.
VNPAY-QR is the first code type in the Vietnamese market built, according to the standards of the State Bank of Vietnam. It meets EMVco international standards, and was certified by international standardisation organisations.
QR-MMS payment management system
QR-MMS, meanwhile, is the ultimate management system for businesses, allowing them to monitor online QR code payment transactions and report directly via a website or mobile software anytime, anywhere.
The system is built on a foundation of modern technology, with a smart, logical and flexible interface providing an easy and convenient user experience with two user levels: agents, and points of sale.
Besides the management and tracking functions, agents can create QR codes for secondary points of sale or per product and track transactions of secondary units on their own QR MMS account.
As a result, business can be more active in expanding their business and monitor, manage, or deploy their own business programmes without any support from a software management unit.
|The company’s VNPAY-QR and QR-MMS systems are praised for advancements in electronic payments|
By Phuong Thu