Support from foreign investors is expected to help domestic e-payment firms create new things and make a difference in the competition with foreign players in the domestic e-payments market.

After more than two years in operation, VIDIFI JSC is facing difficulties as total revenue cannot cover its interest payments.

South Korea’s Lotte Vietnam Shopping is facing a payment of VND187.3 billion ($8.3 million) in arrears for rent at its Lott Mart location in the southern province of Ba Ria-Vung Tau.

The Hanoi Department of Taxation has just issued a fine of more than VND181 million ($8,000) to Vietnam Electrical Equipment JSC (GELEX) for erroneous tax declaration, along with over VND1.03 billion ($45,400) in tax arrears and late payment fees.

An increasing number of Vietnamese people have opted to claim a lump-sum social security payment, withdrawing themselves from the national security system as authorities are striving for universal coverage.

Payment systems giant Visa said late on Friday (Jun 1) it was "operating at close to normal levels" after a hardware failure left it struggling to process transactions in Europe.

The fintech (financial technology) sector is facing difficulties of capital mobilisation shortage, inadequate legal framework and banks’ hesitance in co-operation, said Le Minh Hung, Governor of State Bank of Vietnam (SBV).

Around one million bank employees went on strike across India on Wednesday (May 30), a union representative said, demanding better pay and a government crackdown on companies who wilfully default on loan payments.

With no shop workers or cash tills and payments made using facial recognition, China's largest e-commerce platform Alibaba created a fully automated wine store at Hong Kong's Vinexpo fair Tuesday (May 29).

The scale of connectivity and the pace of change in technology is transforming payments. The rise of e-commerce and the adoption of EMV chip technology has contributed to a shift in payment fraud from the card-present to the card-not-present channel across the Asia Pacific region and on a global scale, whereas the fraud rate for Vietnam has reportedly been relatively low. Abdul Rahim, senior director of risk services for Visa Southeast Asia, spoke to VIR’s Trang Nguyen about the current development of the payment landscape in Vietnam and the proposed risk initiatives and security roadmap to ensure a safe and sound payment ecosystem for the country.

Digital payment provider Visa launched the first competition for startups in Vietnam today, aiming to encourage innovations in the local fintech sector for the prize of $30,000.  

Despite the value of VNG Corporation’s investment dropping like a stone, VNG plans to take the blow and wait out brighter times, as Tiki and ZaloPay are part of its long-term development plan.

At the first instance hearing, the representative of Standard Chartered Vietnam asked Quang Minh Corporation JSC (QMC) to pay its debts of VND89.9 billion ($4 million), and Standard Chartered Mauritius also asked for the repayment of over VND38 billion ($1.7 million).

While numerous banks raise service fees on online and mobile banking as well as ATM withdrawals, more and more people choose e-wallet apps for comfort and freedom.

A series of shortcomings in airport infrastructure projects developed by ACV (Airports Corporation of Vietnam) has just been uncovered by the Ministry of Transport's (MoT) Inspectorate.