VNPay honoured with National Brand Award 2020

November 28, 2020 | 08:00
Undergoing strict select criteria by the Judging Panel, VNPAY has just been honoured at the Vietnam National Brand Awards 2020 for its VNPAY-QR code payment solution on November 25.    

VNPAY has been known as one of the pioneering businesses for rolling out the state-of-the art VNPAY-QR code payment solution that is integrated into the mobile banking apps of banks to provide a QR Pay function.

After nearly two years of deployment, VNPAY-QR has created a revolution in mobile payment across the country with more than 20 million users being service beneficiaries. In the year to date, the payment volume utilising VNPAY-PQ has almost tripled over the corresponding period in 2019.

vnpay honoured with national brand award 2020
VNPAY CEO Le Tanh receiving the National Brand Award 2020

VNPAY-QR is now used across the board, from retail, fashion, and entertainment to electronics, electrical engineering, hospitals, and schools in diverse professions. This kind of payment has reached nationwide coverage through shaking hands with leading local players like The Gioi Di Dong (Mobile World), Viettel Store, FPT Shop, TH True MILK, and VNPost to humble shops like street-side iced tea stalls.

VNPAY-QR payments have been deployed widely countrywide with nearly 100,000 points of payment accepting these payments in 63 provinces and municipalities.

Simplicity, swiftness, and safety are the key features winning VNPAY-QR users’ hearts today’s the digital age. Payments have become so simple nowadays – all they take is tapping on the Mobile Banking app and scanning a QR code.

vnpay honoured with national brand award 2020
Users paying with VNPAY-QR

In addition, VNPAY – the biggest QR code payment firm in Vietnam – has put into use diverse, cutting-edge technologies and prime security standards. Its QR code payment function is on par with strict standards set by leading card issuers. Moving forward, VNPAY-QR will apply advanced AI technologies to accustom users with smart habits, helping to drive smart payment habits among users in the journey towards a non-cash society.

Payments have become so simple nowadays – all they take is tapping on the Mobile Banking app and scanning a QR code.

“The National Brand Awards 2020 provides a valuable opportunity for VNPAY to solidify its status as Vietnam’s leading fintech firm and highlight Vietnam’s e-payment industry in the international area,” said VNPAY CEO Le Tanh.

In the forthcoming years, VNPAY will forge ahead with e-payment solutions in the field of transport, healthcare, and small but up-and-coming trading households that were formerly out of reach for the company. Expanding payment methods are a core initiative for the company in promoting non-cash payment in Vietnam.

Simultaneously, VNPAY aims to extend its reach to rural and remote areas where most people find it hard to access modern payment services and contributing to the government’s target of developing non-cash payment in the countryside.

In early May, VNPAY had supported small- and medium-sized enterprises to access free payment services, lending them a hand to maintain their health amid the challenging times in the hope that more and more firms would connect to the VNPAY-QR code payment system.

The Vietnam National Brand programme (Vietnam Value) is a unique and long-term trade promotion programme by the government the function of which is to build up and cultivate national brands.

For six editions now, Vietnam Value has garnered great attention and created trust in the business and consumer community at home and abroad by honouring the best products and businesses that represent Vietnam’s essence.

Vietnam Value aims to enhance Vietnam’s fame for quality products and services that are highly competitive in the world marketplace.

By Chinh Thuy

What the stars mean:

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