VNPAY honoured at first-ever Vietnam Digital Awards

December 25, 2018 | 16:26
The biggest QR code payment firm in Vietnam, VNPAY, had a good harvest of awards at the first-ever Vietnam Digital Awards 2018 with its VNPAY-QR and QR Merchant Management System as the most outstanding digital technology applications.

The Vietnam Digital Awards was held by the Vietnam Digital Communication Association to honour organisations and individuals who produced excellent achievements in providing and applying digital solutions towards improving customer experience as well as promoting digital development in the country.

In the first year of the award, the organising board chose 34 agencies and businesses with the best services and solutions. These included, VNPAY-QR and QR Merchant Management System (QR MMS), developed by Vietnam Payment Solution JSC (VNPAY), which have been honoured as the most outstanding digital technology applications in 2018.

vnpay honoured at first ever vietnam digital awards
A representative of VNPAY, Nguyen Anh Tuyet, makerting director of VNPAY’s northern region receiving the awards

After just two years of operations, more than 2,000 shops nationwide accept payments through VNPAY-QR, with a new user growth rate of 30 per cent per year. Besides, in order to bring convenience for businesses, VNPAY developed its QR Merchant Management System (QR MMS).

VNPAY is maximising efforts in deepening its market penetration, with a view to building VNPAY-QR into a new payment trend preferred by both businesses and customers. Up to now, more than 2,000 shops nationwide accept payment through VNPAY-QR with a new user growth rate of 30 per cent per year. VNPAY is integrated into the mobile apps of 18 big banks in Vietnam. QR code has become a popular payment method in shopping, travelling, and entertainment.

vnpay honoured at first ever vietnam digital awards
QR code has become a popular payment method in shopping, travelling and entertainment

Not only bringing convenience to users, the VNPAY-QR payment solution was also well-received by enterprises for its many outstanding advantages in the process of deploying, operating, and managing payment transactions. Deploying payments via VNPAY-QR code, businesses do not need to spend much on initial infrastructure, while the system is easy to deploy on a large scale and quickly with a low cost.

The company also developed the QR MMS to provide online reports of each transaction to merchants. They can update their payment information at any shop, anytime, anywhere. The QR MMS gives smart and easy-to-use tools for the business owner to be more active in supervision and management.

vnpay honoured at first ever vietnam digital awards

With QR MMS, business owners can create QR codes for each product and take initiative in application in sales activities

With these advantages, both VNPAY-QR and QR MMS are considered outstanding digital technology applications contributing significantly to the process of digital transformation from a traditional model to a digital technology-based business environment.

Vietnam Payment Solutions JSC (VNPAY), was founded in March 2007 and takes the lead in electronic payments in Vietnam. VNPAY was licensed by the State Bank of Vietnam as a payment intermediary under Permit No.15/GP-NHNN.

VNPAY is one of the leasing IT companies in Vietnam. Its core businesses are finance and banking, information technology, and telecommunications. The firm provides services to more than 40 commercial banks and payment companies in domestic and international markets, as well as thousands of enterprises. As noted, VNPAY provides a variety of modern and convenient payment solutions, including QR code payments.

QR code can be used to encrypt any data, such as website addresses, product, and service information, and contacts. Previously, QR code only served as a tool for advertising as well as a source of product information in Vietnam. However, QR code technology has now been integrated into mobile banking applications to simplify payments on e-commerce websites and virtual stores.

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By Nguyen Thu

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional