UnionPay partners VNPAY and ECPay will enable 15,000 merchants to make payments by UnionPay QR code in VN
- Consumers will be able to make UnionPay QR code payments at more than 60K nationwide traders.
- UnionPay is committed to continuing to foster the QR code payment ecosystem to make mobile payments more convenient and transparent for its VN customers.
Hanoi, Vietnam, December 28, 2021 / PRNewswire / – Global payments network UnionPay announces partnerships with leading innovative payment acquirers VNPAY and ECPay to deploy UnionPay Quick Response (QR) Code to nearly 15K traders everywhere Vietnam. These collaborations will significantly improve the existing 45K merchant network that already accepts the UnionPay QR code for payment. Small, medium and large merchants enabled with UnionPay QR code payment span a wide range of verticals from convenience stores, electric utilities, restaurants, healthcare, convenience stores, retail supply, retail, supermarkets, telecommunications and more.
UnionPay has launched the nationwide rollout of the EMV-compliant QR code for payments at merchants in Vietnam in 2018 to pave the way for its foray into innovative payment products and services. At the end of 2020, UnionPay collaborated with Military Bank (MB) to issue its first virtual debit card to 600K clients in Vietnam, its biggest show on the market.
“Today marks an important step for UnionPay International in Vietnam. As the first global payments network to deploy QR code for nationwide payments, this confirms our commitment to bring innovative payment solutions to the country to enable greater convenience, security and ease of payment for consumers. and traders. We have seen how the pandemic has created a marked increase in the demand for contactless payments like QR code for payment, so we are delighted to be able to respond quickly to this changing payment need of our customers by Vietnam,” noted Huiming Cai, Managing Director, UnionPay International (UPI) South East Asia.
To encourage more UnionPay QR Code transactions at merchants, UPI launched a 10% instant rebate campaign at VNPAY merchants for daily spending categories, including household names like Luôn Tươi Sạch, Medicare, Sói Biển, Sữa Tươi, TH True Mart and more.
“VNPAY is one of the largest QR Code for acquirers of payment merchants in Vietnam. We are pleased that 17 of our top merchants with a network of over 1,200 stores across Vietnam participates in the UnionPay QR Code promotion. Like UPI, we believe that increased usage among everyday merchants is the best way to drive adoption of innovative payments like QR code because it creates a habit. We look forward to continuing to work with UPI to activate the UnionPay QR code at more VNPAY merchants in the future, ”said Ms. Nguyễn Ánh Tuyết – Northern Business Manager of VNPAY.
According to the statistics of from Vietnam Telecommunications Department, the country had 132.5 million active mobile subscriber accounts at the end of 2020, even if the total population is less than 100 million. Thus, mobile and innovative payments such as QR code for payment should be easily adopted by Vietnamese consumers and businesses through Vietnameven in rural, remote and isolated areas.
“In line with the Central Bank of Vietnam’s vision for a cashless society, we are pleased to partner with UPI to make the QR code for payment available at merchants and ECPay outlets nationwide. various activities in electricity, supply stores, telephony, transportation and Moreover, we can help UPI foster a richer ecosystem for UnionPay QR code payment and help drive the adoption of payment methods electronic, to transform the nation into a cashless country, ”said Mr. LEEO (Li wei), Deputy Managing Director, ECPay.
UnionPay’s massive QR code for payments rollout comes at an opportune time to reduce physical contact, when the Vietnam the government encouraged the 5K standard rules – Khẩu trang – Khử khuẩn – Khoảng cách – Không tập trung – Khai báo y tế – during this pandemic.
See Appendix A below for a full list of the 17 merchants participating in UnionPay’s Instant 10% QR Code Discount Promotion. Offer valid while stocks last, on a first come, first served basis.
About UnionPay International
UnionPay International (UPI) focuses on the international activities of UnionPay. In partnership with more than 2,400 institutions around the world, UnionPay International has enabled card acceptance in 180 countries and regions with issuance in 70 countries and regions. UPI provides high-quality, cost-effective and secure cross-border payment services to the world’s largest cardholder base and guarantees convenient local services to a growing number of UnionPay cardholders and merchants around the world.
In Vietnam, UnionPay products are widely accepted at ATMs and point-of-sale terminals across the country. UPI works with the Bank of China, Industrial and Commercial Bank of China, Military Bank, Sacombank and Vietinbank to offer a wide range of payment products ranging from physical cards, virtual cards, QR Code to mobile payment and more. For more information visit www.unionpayintl.com/vn/.
VNPay was created in March 2007, the main activities in the field of mobile payment, the core business of which is finance – banking. The company has obtained a license from the State Bank to provide payment intermediary services in October 2015.
In the past, VNPAY has invested and spent a lot of resources and costs in technology, programs and marketing activities, accompanied by service providers to bring many benefits to points of service, service providers (online and offline) and end users. The results are clearly displayed in the form of cashless payment via VNPAY-QR, which has become popular with up to 150,000 points of acceptance and is well received by consumers.
In early 2021, VNPAY officially launched a new version of the VNPAY electronic wallet, with the aim of prioritizing the family wallet function. With this product, the company hopes that mobile payment will be accessible to all ages, not only parents but also children and grandparents. VNPAY currently has over 4000 employees, including over 1200 engineers and many good experts in many different technology fields. The company has cooperated with banks and businesses to create a diverse ecosystem of payment products (electricity, water, school fees, apartment fees), a variety of financial public services (account information, online savings, loans online), a variety of non-financial services public services (interactive information, virtual assistants, finding service points around, calling a taxi), diversified forms of commerce (buying plane tickets, buying movie tickets, buying from train tickets, long-distance car tickets and other material goods for daily consumption from diapers to milk; from meat to TV and washing machine) aimed at serving all daily activities of customers on Mobile Banking .
VNPAY sees itself as an extension of banks, strategic partners of large service providers such as airlines, large travel, transportation and retail companies. Vietnamese people will have many wonderful experiences with digital products and services based on VNPAY technology.
ECPAY was established by the Electric Cooperation of Vietnam (EVN) on May 7, 2010, with the responsibility of building and managing an EVN centralized electricity payment gateway, implementing the Prime Minister’s policy on promoting cashless payments. ECPay implements the goal of transforming payment digitally and online. With the payment services provided by ECPay, customers have many different payment options such as automatic debit, electricity bill advance, payment through e-wallet, QR code payments, payment in transaction offices and collection points, etc. ECPay provides fast, convenient, fast payment services with simple registration procedures. ECPay aims to become one of the largest and strongest payment service companies in the Vietnam. ECPay’s sales have grown steadily and ECPay has achieved initial success in connecting over 30 million customers across Vietnam, operating 4,000 collection points and transaction branches in 63 provinces. ECPay now collaborates with 14 banks and many major partners such as Viettel, VTVCab, VNPT, PTI, EASY CREDIT, etc.
Converting the power of three tripods: intrinsic potential, nationwide customer system and reliable partners, the ECPay brand has grown more and more assertive and has become the companion of millions of Vietnamese families.
Merchants participating in UnionPay QR Code 10% instant discount
- BB Well-being
- Beauty Box
- Dalat Hasfarm
- Jean Genviet
- Cafe Guta
- Family farm
- Children’s place
- Luôn Tươi Sạch
- Health Insurance
- Self Biển
- Sữa Tươi
- TH True Mart
- The face shop
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