The State Bank of Viet Nam (SBV) granted a license for 1Pay Joint Stock Company’s intermediary payment services on July 12.

Accordingly, the company will be allowed to expand its activities in electronic payments, collection assistance, electronic money transfer and e-wallet services.

Speaking at the ceremony, Hoang Tuyet Minh, deputy director of SBV’s payment department, said that she expects that 1Pay will provide the best payment solutions to customers, boosting the development of modern non-cash payment solutions in Viet Nam, bringing the country’s e-commerce to an international level.

1Pay will also launch an online payment portal service which allows end users to pay online by bank cards or bank accounts on e-commerce sites and focus on developing and launching e-wallet applications soon, so that users with bank accounts can carry out purchases or pay bills online on smartphones.

Launched in January 2013, 1Pay is an intermediary payment platform provider in Viet Nam, enabling local and international businesses to access and integrate mobile payment services simply and automatically.

1Pay, a fintech startup project of MOG Viet Nam JSC, is now one of the successful open platforms for electronic payment in Việt Nam with more than 3,000 customers from eight different countries. — VNS