The National Payment Corporation of Viet Nam (NAPAS) signed a memorandum of understanding (MoU) on market development co-operation with KEB Hana Card Co., Ltd and Alliex Vietnam JSC.

Under the MoU, the participants will co-operate to study and build a feasibility report on the development and efficient management of a shared point of sale (POS) network in Viet Nam.

They will share experiences as well as market research results from advanced countries in order to recommend a systematic solution in developing card payments through card-accepting equipment at the POS, promoting the development of the domestic card payment market, which is one of the areas of focus for NAPAS in recent years.

With KEB Hana Card and Alliex’s cashless payment experience and technology and experience in providing services and infrastructure for interconnected card systems among Vietnamese banks that are NAPAS members, the co-operation is expected to help realise the State Bank of Viet Nam’s plan to develop bank card payments through card acceptance equipment by 2020.

KEB Hana Card is one of the first payment organisations in South Korea, belonging to KEB Hana Financial Group, the country’s largest financial group. In South Korea, KEB Hana Card has issued 4.7 million credit cards, capable of making payments for nearly 2.5 million card accepting units.

Meanwhile, Alliex Vietnam is a leading provider of fintech solutions in Japan, South Korea and Viet Nam. Alliex is revolutionizing money transfer and payment technologies online as well as offline. As a member of Alliex, Alliex Vietnam is applying advanced technology and proven expertise to invest in non-cash payment infrastructure throughout Viet Nam. — VNS