Chairman of VNPAY Tran Tri Manh and the Vision for Innovation

The award, organized by the Institute for Policy and Strategy Research (Central Policy and Strategy Department) and VnEconomy (Vietnam Economic Science Association), is an annual event recognizing entrepreneurs who have made significant contributions to the nation’s journey of innovation, integration, and development.

A representative from the organizing committee stated, “Mr. Tran Tri Manh has not only led VNPAY to become Vietnam’s leading fintech company but has also inspired others with his unwavering commitment to innovation, aligning the company’s growth with national and community interests.”

Portrait of entrepreneur Tran Tri Manh.

Pioneering Digital Payments in Vietnam

Nearly two decades ago, when Vietnam’s digital payment infrastructure was in its infancy, Mr. Manh chose a path less traveled: developing digital payments. At that time, the concept of “banking on your phone” was foreign to most Vietnamese. Financial transactions were primarily conducted at bank branches, counters, or ATMs. Amidst this landscape, Mr. Tran Tri Manh foresaw an inevitable trend—mobile technology would revolutionize how people accessed banking services.

Guided by this vision, VNPAY began collaborating with banks to build mobile banking platforms. Initially, the service operated via SMS—simple, with limited features—but it marked a new era where customers could check balances, transfer funds, or make payments using basic mobile phones. For users at the time, this was a groundbreaking experience.

The early experiments were challenging. Limited telecom infrastructure, unformed user habits, and skepticism about “sending money via text” posed hurdles. Yet, Mr. Manh remained steadfast, believing that to popularize digital banking, one must start with the smallest, most familiar utilities. Thanks to his persistence, by around 2013, mobile banking had become a widespread service, adopted by major banks, laying the foundation for industry-wide digitization.

Ecosystem of utilities on the banking app.

VNPAY pioneered the integration of daily life utilities into banking apps, transforming mobile banking from a basic financial tool into a multi-utility digital platform. This move set a new trend, propelling Vietnam’s mobile banking ahead of many regional counterparts in diversity and user experience.

What sets VNPAY apart is its market leadership rather than mere adaptation. From their phones, customers can shop online, book flights, trains, hotels, watch movies, hail taxis, play golf, and pay bills—all within a single banking app.

This innovation gave Vietnamese banks a competitive edge and set new standards for mobile banking, positioning Vietnam as a regional leader in digital finance.

VNPAY also pioneered QR code payments on the internet. While mobile banking introduced Vietnamese to digital banking, QR codes accelerated mass adoption of digital payments.

From seemingly mundane black-and-white squares, QR codes transformed consumer habits. Today, cash payments at cafes or supermarkets are increasingly replaced by phone scans, a new norm born from this bold initiative.

To date, VNPAY has established a network of nearly 600,000 VNPAY-QR acceptance points nationwide, integrated into over 30 banking apps and 15 e-wallets, serving approximately 60 million regular customers. These figures underscore the foresight and impact of a strategic choice.

VNPAY Empowers Businesses in Comprehensive Digital Transformation

Beyond serving millions of end-users, VNPAY harbors a greater ambition: supporting Vietnamese businesses in comprehensive digital transformation. Under Chairman Tran Tri Manh’s leadership, VNPAY has crafted a diverse ecosystem of solutions catering to operational needs and modern digital governance.

From VNPAY-Invoice e-invoicing, VNPAY-CA digital signatures, VNeDOC e-contracts to payment gateways like VNPAY-PhonePOS, VNPAY offers comprehensive tools for businesses to digitize processes, cut costs, and comply with government regulations. These solutions are particularly valuable for SMEs, where operational optimization aligns with transparency, security, and efficiency.

A notable milestone is VNPAY becoming Vietnam’s first and the world’s 26th company to achieve the MPoC security certification—the latest international standard for mobile payments. The VNPAY-PhonePOS solution turns smartphones into handheld POS devices, expanding cashless payments from small businesses to large enterprises.

By providing integrated solutions spanning finance, management, and operations, VNPAY accompanies Vietnamese businesses in digital transformation, contributing to a modern, internationally integrated digital economy.

Culture of Innovation: Sustaining Leadership

A key aspect of VNPAY’s leadership under Chairman Tran Tri Manh is its focus on people. The company’s culture is built on values like creativity, responsibility, dedication, sincerity, and integrity.

Applying AI to work and products is seen by VNPAY’s Chairman as key to enhancing efficiency.

This model fosters an environment where employees are encouraged to innovate and experiment, enabling VNPAY to maintain leadership in adopting cutting-edge technologies like AI, Big Data, Blockchain, and cloud computing.

Beyond business, the Chairman’s strategy links the company to societal goals. VNPAY has supported the government’s cashless payment program, bringing financial services to remote areas. The company also engages in community support and charity, demonstrating a broader role for tech firms in society.

Internationally, VNPAY collaborates with global payment organizations and partners, serving both domestic users and introducing Vietnamese fintech to international customers.

The Top 10 Outstanding Vietnamese Entrepreneurs 2025 award recognizes Mr. Tran Tri Manh’s nearly 20-year dedication to technology and digital payments.

In a recent statement, Mr. Manh said, “VNPAY’s journey ahead is not just about growing a company but about contributing to and accompanying the nation in the digital transformation era.” This reflects his belief that personal aspirations are intertwined with national ambitions.