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Banking & Finance

TPBank introduces new payment solution

Released at: 18:53, 27/10/2017

TPBank introduces new payment solution

Photo: Hai Van

TPBank QuickPay runs on both iOS and Android operating systems and enables the payment or transfer of money easily and quickly through a QR code.

by My Van

The Tien Phong Commercial Joint Stock Bank (TPBank) officially launched a new payment application and money transfer system using QR codes on mobile phones, called TPBank QuickPay, on October 27.

TPBank QuickPay runs on both iOS and Android operating systems and enables the payment or transfer of money easily and quickly through a QR code.

For payments, users simply open the application, sign in, scan the QR code and scan their fingerprint or enter a personal code to confirm the payment.

The QR code used by TPBank QuickPay is compatible with international standards set by international card organizations, QR codes of large banks, and a number of FinTech companies in the market.

Customers not only pay at the acceptance point but can also pay at the point of sale or transfer funds to customers at certain banks.

“With a simple application, anyone can use it,” said Mr. Nguyen Hung, General Director of TPBank. “Non-cash payments are sure to become more popular, helping save costs for society and being in accordance with the direction of the government and the State Bank of Vietnam.”

Mr. Pham Tien Dung, Director of the Payment Department at the State Bank of Vietnam (SBV), said this is a positive sign for banking and finance in Vietnam.

“TPBank is one of the leaders in applying new technology in payments,” he added.

QuickPay registration is easy and fast and the procedure for identifying customers is simple.

The biggest advantage of TPBank QuickPay is that it’s free to pay, transfer money, or use for small-scale sales.

It has high security because information contained in the QR code read by the application ensures integrity and accuracy, with no errors in input from typing.

It also supports sales, with a notification sent immediately upon a completed transaction.

TPBank QuickPay not only helps increase revenue and access to new customers but also reduces risks in payment.

Mr. Hung said that in the short term, it will be free of charge to small-scale vendors. For large-scale points of sale, the fee will be competitive. TPBank also plans to launch a range of attractive promotions for users, to promote the purchase of certain goods and designated points of sale.

Those attending the launch included representatives from the SBV, General Director of MasterCard Asia Pacific Mr. An Vogels, Chairwoman of NAPAS, Ms. Nguyen Tu Anh, and Mr. Aung San Maung, General Director of Microsoft Vietnam.

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