Mr. Nguyen Minh Tam, Deputy CEO of Sacombank (far right), attends the signing ceremony with Visa and representatives of 3 e-wallets
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Accordingly, customers will be able to pay for goods and services via QR codes from MoMo, VNPAY-QR, or ZaloPay using funds from their Visa cards, with Sacombank as the payment bank. Compared to the past, the QR code payment feature through these three e-wallets has been upgraded. Instead of only using direct funds from the e-wallet or domestic payment cards, customers will soon be able to use both domestic and international Visa debit and credit cards for payments.
“Visa is delighted to partner with Sacombank and these three e-wallets to develop a safe and efficient payment method for everyone, everywhere in the country. Vietnam is gradually transitioning towards a cashless society, and this process will be accelerated by the SMEs’ readiness to innovate and provide consumers with advanced, innovative digital payment solutions,” said Ms. Dang Tuyet Dung, Visa’s Country Manager for Vietnam and Laos.
Integrating Visa cards as a payment method in the three leading e-wallet applications in Vietnam will benefit both businesses and consumers. For SMEs, this means they will gain more from expanding their customer base, thereby boosting sales. Meanwhile, consumers will enjoy enhanced shopping experiences with more digital payment options and additional promotions and discounts from related partners.
“Sacombank is currently leading in the acceptance of payments in Vietnam by pioneering the implementation of diverse modern payment methods, compatible with businesses’ needs, from online to offline, and from chain businesses to small household businesses,” said Ms. Nguyen Phuong Huyen, Deputy Director of Sacombank’s Retail Banking Division. “With this cooperation, Sacombank commits to accompanying Visa and the e-wallets to bring customers the fastest, safest, and most convenient experiences in paying for goods and services. At the same time, we help sellers save costs and increase revenue,” she added.
Visa’s 2023 Consumer Payment Attitudes study showed that up to 88% of Vietnamese consumers prioritize cashless payments, and 62% have used or are using QR payments. This trend is expected to continue growing and become one of the primary payment methods, contributing to Vietnam’s goal of becoming a cashless society.
For more information, please visit sacombank.com.vn or visa.com.vn.
