Sacombank Tap to Phone technology wins Trust and Use award 2022

Sunday, Dec 11, 2022 17:44

Luong Van Tuan, director of Sacombank’s Thu Do branch, receives the trophy and award certificate on behalf of the bank. — Photo courtesy of Sacombank

Sacombank’s Tap to Phone technology was honoured as one of the top 10 excellent products and services in the field of finance-banking-insurance in 2022 by Vietnam Economic Times magazine for a second year.

The magazine’s Trust and Use selection programme aims to honour innovative products and services that provide customers with greater experiences, and are preferred and appreciated by consumers.

In 2020, Sacombank was the first bank in Viet Nam to launch Tap to Phone technology that enables merchants to use their mobile phones and tablets as point-of-sale terminals for contactless payments.

Thanks to that, businesses with a wide distribution network, and small and medium-sized businesses can all deploy this solution of accepting payment at the point of sale at a low cost.

The solution is especially suitable for mobile micro businesses such as restaurants, grocery stores, traders at traditional markets, and shippers. Businesses and business households can easily register to become a Sacombank card payment acceptor at

The request will be processed through fully automated digital solutions and completed in just five minutes. After successful registration, customers can download Sacombank's mMerchant app on Google Play to their mobile phones/tablets to use the Tap to Phone feature as a POS machine for contactless payment.

The technology helps reduces transaction time, while still ensuring safety and security. Customers only need to tap their contactless cards on a seller's mobile device to complete the payment.

Previously, this technology won the Sao Khue Award for excellence product in digital banking of the software industry from the Vietnam Software and IT Services Association. — VNS

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