PVcomBank, Vietpay Technology Company Ltd under Nexxo SG Private Limited (the UK) and Visa have officially launched a multi-channel merchant acquire service with an aim to contribute to non-cash payment orientation in Viet Nam.

Following the orientation, banks, financial intermediaries and businesses have made efforts in providing modern e-payment solutions. However, the market has too many means in different ways, making businesses consume resources and costs in connecting, accepting payment processing and operating services. This is not only a problem that needs to be solved for the banking and finance industry, but also for businesses when using the service, for effective cash flow control and promoting business.

To bring the most modern and convenient solutions to customers, PVcomBank and Vietpay launched services to meet payment demands of both domestic and international card companies. With great support from the VISA, they have been accelerating the service launching to card acceptors who are the small business community in Viet Nam, allowing customers to connect and accept cashless payment on many platforms such as POS, E-commerce, QR code, e-invoice and Soft Pos in the future.

The cooperation marked an important step in the current payment context in the market thanks to the use of eKYC and OCR to read text data in image format.

Accordingly, on the Client Apps built and developed by Vietpay, merchants can actively provide documents and update procedures to open an account that PVcomBank and Vietpay offer in just one automated processing flow.

With this system, merchants would enjoy full service from installing to managing an account on one app.

Nguyen Viet Ha, PVcomBank’s Deputy General Director, said: “In a society where cashless payment is gradually becoming a habit and an essential need, financial solutions, payment gateways and payment services have created an important and inseparable trio. Therefore, PVcomBank always strives to provide comprehensive solutions instead of separate products and services. Thanks to the support from Vietpay and VISA, PVcomBank launched a multi-channel payment gateway today. Together with PVcomBank, I hope that Vietpay and VISA will have a long and sustainable future in Viet Nam.”

“Vietpay believes that PVcomBank is the most suitable partner that will join us in achieving our mission and commitment in the market. We are also grateful for VISA's support for our initiatives in the field of Digital Finance and Digital Banking in Viet Nam. We plan to introduce our products in partnership with PVcomBank,” said Nebil Ben Assia, Chairman and General Director of VietPay. — VNS