The cooperation between SmartPay and Lien Viet Post Bank will create the inter-operability between both payment systems. — Photo Courtesy of SmartPay

SmartNet, which owns the SmartPay e-wallet, has signed an MOU with Lien Viet Post Bank for providing e-wallet, remittance and other services.

They also signed an agreement to connect the bank’s checking accounts and debit cards with the e-wallet.

The tie-up will create inter-operability between both payment systems so that their customers can easily scan QR codes for payment at both parties’ merchants.

SmartPay now has more than 300,000 merchants while the lender has nearly 50,000, and both are expanding further across the country.

Huynh Ngoc Huy, chairman of Lien Viet Post Bank, said: “The co-operation will capitalise on the partners’ advantages and provide small traders and individual customers with more payment channels.”

Marek E.Forysiak, chairman of the e-wallet company, said the rapid advances in IT means both individual users and small traders could use the remittance services to receive monies faster at lower costs, and this is where technology could really make a difference.

SmartPay entered the Vietnamese market in May 2019. — VNS