SmartNet, the owner of e-wallet SmartPay, and VPBank signed an agreement for QR code-based payment on Thursday. — Photo courtesy of SmartNet

SmartNet Company Limited, the owner of e-wallet SmartPay, and VPBank on Thursday signed a strategic partnership for using the QR Pay feature in the bank’s mobile application for making payments through SmartPay.

SmartPay is the first e-wallet chosen by VPBank to link with the QR Pay feature in its New VPBank Online app.

Marek E. Forysiak, chairman of SmartPay, said since its launch less than two years ago, SmartPay has seen its merchant acceptance network increase to more than 400,000 small retail outlets and 1.5 million individual customers.

The new partnership would allow over four million New VPBank Mobile users to scan a QR code to make real-time payment at any one of SmartPay’s 400,000 accepted payment points.

“We will jointly develop financial products and services that are most needed by the micro and small merchant segment and deliver those services digitally,” he said.

Phung Duy Khuong, deputy CEO and head of retail banking at VP Bank, said the co-operation would provide opportunities to access digital financial products for the customers of both parties.

“It will also help customers experience a range of payment channels suitable for their needs.”

From December 1 until the end of January next year, cashback of up to 50 per cent and a maximum of VND100,000 (US$4.3) at a time will be offered to the first users of the QR Pay feature in the New VPBank Online app making payments at SmartPay accepted payment points.

SmartPay has also inked deals with many other local and international lenders such as Viet Capital Bank, CIMB Bank and LienVietPostBank.

In November SmartNet received the 2020 Vietnam Outstanding Fintech Award from the Vietnam Banking Association and International Data Group.

VPBank has won the award for Outstanding Digital Bank for three straight years. — VNS