PVcomBank and Vietpay Technology Limited Company – a member of multi-national group, Nexxo Ventures Limited (the UK) on Monday signed a comprehensive co-operation agreement in associating and expanding the network of payment and card issuance.

This is a step for PVcomBank on the digital transformation journey and following the cashless policy of the Government and the State Bank of Viet Nam.

Under the agreement, PVcomBank will be the supplier while Vietpay is the management systems operator to provide products to customers, including Card Management System; Merchant Management System and Terminal Management System. Vietpay will also be the product management unit, taking care of customers during implementation.

PVcomBank will also provide technical advice and training to Vietpay's technicians on the system to help the company handle emergency situations during and outside office hours, thereby improving customer service quality.

In addition, the two sides will work closely to deploy the construction of network infrastructure and secure communication interfaces for processing operations and other related purposes within the co-operation framework through the Card Management System, Merchant Management System and Terminal Management System.

Speaking at the signing ceremony, Nguyen Viet Ha, Deputy General Director of PVcomBank, said: "The strong development of technology and the explosion of e-commerce activities in recent years are favourable conditions to exploit the payment and card products which is a potential market. With the brand value of PVcomBank, the support of the parent company - Nexxo's financial potential and Vietpay's ability to meet the market, I believe that the two sides will soon achieve success in the cooperation”.

“Nexxo brings to Viet Nam the latest and most advanced technologies in the fintech field with decades of experience in many countries. We will take advantage of all our experience and potential to co-operate and accompany PVcomBank, bringing modern and convenient life to millions of Vietnamese people and helping small firms have good financial support. Hopefully, this co-operation between PVcomBank and Vietpay will be successful and open up many development opportunities in the future," said Nebil Benaissa, Chairman and General Director of Vietpay Co Ltd.

Operating in the financial sector, Nexxo Ventures Limited (the UK) has a presence in many countries and regions around the world. In Viet Nam, Nexxo Ventures Limited officially entered the market in 2021 by establishing Vietpay Technology Company Limited. Vietpay joins the market with an aim of creating fintech solutions, banking and financial services, and co-operation opportunities to enhance operational efficiency for individual customers and small and medium-sized enterprises.

PVcomBank has affirmed its position in both domestic and foreign markets. Many financial institutions and large organisations and corporations choose PVcomBank as a partner. — VNS