“VNPAY Achieves Global MPoC Security Certification for PhonePOS Solution”

MPoC – Elevating Mobile Payment Security with a New “Passport”

MPoC (Mobile Payments on Commercial Off-The-Shelf), a standard introduced by the Payment Card Industry Security Standards Council (PCI SSC), sets rigorous requirements for contactless mobile payment solutions utilizing smart devices.

Breaking away from previous standards confined to dedicated devices, MPoC expands the security umbrella to encompass mobile devices. Consequently, users can seamlessly input their PIN and execute contactless payments directly on their smartphones, eliminating the need for a physical POS machine. This innovation ushers in a more flexible and user-friendly approach to modern payment technology.

To attain the MPoC certification, a payment solution must satisfy over 190 technical requirements pertaining to security, monitoring, and system operations. In addition to end-to-end data encryption, this standard mandates attack detection, periodic security checks, and safeguards throughout the installation, usage, and software update processes on the device.

As officially announced by the PCI SSC, VNPAY, a pioneering financial technology company from Vietnam, has achieved the MPoC certification for its VNPAY PhonePOS mobile payment solution.

This recognition, placing VNPAY alongside industry giants like Apple, Visa, and Mastercard, underscores the technical prowess of Vietnamese enterprises, demonstrating their ability to match the most stringent international standards in digital finance.

Notably, MPoC serves not merely as a technical passport but also as a gateway for certified businesses to forge wider collaborations, as adherence to security standards is a prerequisite for most international payment systems. With Vietnam actively pursuing integration and modernizing its national payment infrastructure, having a domestic unit attain the MPoC standard is a positive signal.

VNPAY PhonePOS, already implemented by over 10,000 businesses, has undergone security enhancements post-certification. Instead of incurring costly investments in dedicated POS machines, businesses now only need an Android phone with NFC support to accept card payments.

Customers making payments via VNPAY PhonePOS while shopping.

Integrated into the VNPAY Merchant application, PhonePOS facilitates swift payments through tap-to-pay gestures and supports a diverse range of contactless card payments, including Visa, Master, JCB, Napas, and mobile wallets like Samsung Pay, Google Pay, and Apple Pay. This solution is particularly well-suited for small businesses such as eateries, cafes, retail stores, and even delivery personnel, offering a flexible and secure payment tool.

Beyond payment acceptance, PhonePOS delivers a visual transaction reporting system, empowering merchants to monitor cash flow, oversee revenue, and optimize their business operations.

Expanding Cashless Payment Opportunities to Every Nook and Cranny

According to data from the State Bank of Vietnam, 2024 witnessed a 53% surge in cashless transactions compared to the previous year. Against this backdrop, internationally-compliant solutions like MPoC are expected to accelerate the adoption of digital payments on a broader scale, encompassing not just urban areas but also remote regions.

PhonePOS exemplifies how technology can be deployed cost-effectively while maintaining security and user-friendliness. This aligns with Vietnam’s comprehensive digitalization strategy in the financial sector and its push for a cashless society.

Ms. Nguyen Anh Tuyet, Deputy General Director of VNPAY, shared: “The MPoC certification affirms that our solutions meet the most stringent security requirements. We will continue to focus on developing flexible and internationally-compliant payment options to promote the widespread adoption of cashless transactions nationwide.”