HA NOI (Biz Hub) — Ngan Luong, a member company of pioneering Vietnamese e-commerce group, Peace Soft Solutions Corporation, seized the Red Herring 100 Asia award with its mobile payment solution MobiPay in Hong Kong last week.

Ngan Luong Company won the Red Herring 100 Asia award in Hong Kong. Photo nganluong.vn

MobiPay is the first service in the Southeast Asian to allow traditional retail stores or individuals to use mobile phones for payment with only one-minute registration and without utilizing point of sale (PoS) machines. It was completely designed and developed in Viet Nam by Vietnamese experts.

The platform supports two payment methods. It allows customers to transfer money to sellers from bank cards linked with their mobile phone numbers; and also allows customers to swipe bank cards into a card reader attached to sellers' mobile phones.

Nguyen Hoa Binh, chairman of the company's board, said: "Viet Nam is known as a country exporting natural resources, minerals and outsourcing services; but the nation is also identified as a market for world technology. We want to contribute our efforts to transform this image in the future by making other countries a marketplace for consuming Vietnamese hi-tech products."

After the award ceremony, the company publicized its cooperation with Malaysia's Berjaya Bhd's MOL-Group Company to implement the platform's roll out across the Southeast Asia, starting from Malaysia in 2014.

Global media company Red Herring compares hundreds of cutting edge companies who are positioned to grow at an explosive rate. The company offers readers an inside look at global innovation and connects them with hi-tech innovators, venture investors and business decision makers. — VNS