The Sacombank Tap to Phone technology has won the Sao Khue Award for excellence in digital banking from the Vietnam Software and IT Services Association.

It is for a second year in a row that Sacombank is winning this prestigious award.

Tap to Phone enables merchants to use their mobile phones and tablets as point-of-sale terminals for contactless payments.

Customers only need to tap their cards on a seller's mobile device to complete the payment. This solution is especially useful for businesses, especially those needing multiple mobile payment points, grocery stores and traders at traditional markets.

The technology helps address customers' concerns about making physical contact amid COVID-19 and reduces transaction time.

Tap to Phone technology combined with the Rapid Seller Onboarding solution has made Sacombank a pioneer in launching package solutions for businesses and fostering their digitisation.

Last March it launched Sacombank Mastercard Only One, a one-chip debit and credit card.

It was also the first bank in the country to launch Visa Direct Outbound that enables Sacombank Visa Debit cardholders to transfer money to Visa cards issued by any overseas bank.

For its strong digitisation efforts, the bank has won awards from prestigious organisations such as the Top 10 Vietnam Gold Star Award in 2021 from the Central Vietnam Young Entrepreneurs Association, and ‘Outstanding Retail Bank’, ‘Outstanding Digital Transformation Bank’ and ‘Outstanding Bank for the Community’ from the International Data Group and Vietnam Banks Association. — VNS