PVcomBank has launched its multichannel payment service in collaboration with Visa and Vietpay Technology, a member of UK-based multinational group Nexxo Ventures Ltd.
In line with the government and the State Bank of Vietnam's (SBV) wish to move towards a more 'cashless society', many banks and businesses have been making efforts to provide modern e-payment solutions. However, due to the plethora of solutions on the market, businesses are struggling to find a workable solution while optimising costs and resources.
PVcomBank and Vietpay share the same goal of bringing a modern and convenient solution to customers, and so have developed a service that accepts multichannel payments across a broad spectrum of e-payment types for several domestic and international card companies.
With support from Visa, the parties are accelerating the launch of this service to the small-business community in Vietnam. The service allows customers to connect and accept cashless payments on many platforms such as POS, e-commerce, QR code, e-invoice, and Soft Pos in the future. The partnership marks an important transformation in Vietnam's payment market.
To use the application built and developed by Vietpay, merchants only need to provide the necessary documents and update procedures to open an account. Users will enjoy an all-in-one service, from setup to account management. Other features can help businesses and sales departments proactively manage risks. Users can also update transactions when needed and calculate business efficiency. Most importantly, the service meets the safety and security provisions as set out by the Payment Card Industry Data Security Standard.
Speaking at the launch of the service, Nguyen Viet Ha, deputy general director of PVcomBank, said, "In a society where cashless payments are gradually becoming standard and even essential, financial solutions, payment gateways, and cash collection services have created an important and inseparable trio. Therefore, PVcomBank, with support from Vietpay and Visa, is providing a comprehensive solution for users."
Nebil Ben Assia, chairman of the Board of Directors and general director of VietPay Technology said, "Vietpay believes that PVcomBank is the most suitable partner for us to achieve our mission and commitment in Vietnam. We are also grateful for Visa's support for our digital-finance initiatives. We plan to introduce many more Visa products in partnership with PVcomBank very soon."
The launch of the multichannel payment acceptance service is an important step for PVcomBank, Vietpay, and Visa. The move helps them engage with more customers, expand their market share, build prestige, and gain an advantage in a highly competitive financial market.
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