Vietbank signed a deal with NAPAS on Tuesday to implement contactless payment on public transport in HCM City.

The signing ceremony took place on Cashless Day 2020, which was organised by the State Bank of Viet Nam.

Vietbank will issue VCCS (Viet Nam Chip Card Standards) contactless cards and process payments in accordance with NAPAS regulations.

The two sides will cooperate with HCM City’s Department of Transportation and People’s Committee to draw up a plan for the implementation of the agreement, which was set for Q4, 2020.

Vietbank and NAPAS’ agreement plays a critical role in building smart city infrastructure in Viet Nam as it helps improve transparency, revenue management and customer experience, which help encourage the use of public transport.

Vietbank was also the first bank in the country permitted to issue smart payment cards on public buses in HCM City last year. — VNS