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BUSINESS SPOTLIGHT

VNPAY in top 10 at Sao Khue Awards

Released at: 08:14, 24/04/2019 BUSINESS SPOTLIGHT

VNPAY in top 10 at Sao Khue Awards

Photo: VNPAY

Company a double winner at annual IT awards.

by Thanh Thanh

The Sao Khue Awards 2019 ceremony, the most prestigious event in Vietnam’s software and information technology industry, was held at the Youth Theater in Hanoi on April 21.

With numerous breakthroughs and technological innovations pioneering electronic payments in Vietnam, the Vietnam Payment Solution JSC (VNPAY) was honored among the top 10 at the awards, with two products: the VNPAY-QR payment solution and the QR-MMS payment management system.

“Compared to other mobile payment solutions on the market today, VNPAY-QR and QR-MMS are most appreciated because of their speed and convenience,” Mr. Le Tanh, General Manager of VNPAY, told local media after the ceremony. “Customers do not need to perform multiple installation steps and businesses need not spend too much time on installation or personnel training.”

“This is because VNPAY places customer benefits as the main focus in development. Our goal is to build a comprehensive ecosystem for customers and businesses using the VNPAY-QR payment method. The continuous application of new technologies, expanding payment points, increasing the number of banks integrating the QR Pay feature, implementing many programs to promote new and modern payment methods for Vietnamese people are what VNPAY is striving to achieve.”

Sao Khue is a program that selects and recognizes outstanding and reputable products and services in Vietnam’s software and IT industry and is organized annually by the Vietnam Software Association (VINASA). All products and services recognized at the Sao Khue Awards 2019 were professionally evaluated by more than 40 experts on the Appraisal Board, with winners boasting outstanding quality and efficiency, continual customer trust, and a competitive advantage in the market.

Through two preliminary rounds and live presentations, the General Council decided to present Sao Khue Awards 2019 to 94 IT products and services and also selected the ten best based on criteria such as socioeconomic efficiency, brand reputation, revenue, market share, and innovation and breakthrough technology.

VNPAY-QR payment solution

As one of the pioneering enterprises in the field of electronic payments in Vietnam, the main focus of VNPAY is investing in research and implementing new cashless payment methods, with a view to gradually shaping a smarter life for Vietnamese people with a quick and convenient experience through just a few mobile phone operations. VNPAY-QR is one of VNPAY’s key products. The payment method solution uses QR Pay features on the mobile apps of banks and international payment accounts such as Visa, Mastercard, JCB, UnionPay, and electronic wallets.

The outstanding advantage of this method is that there is no need to carry cash or bank cards. Customers can easily pay with just their mobile phone in a fast and confidential way. For businesses, the implementation of payment methods via VNPAY-QR code is a cost-efficient solution in terms of investment, installation, and personnel. Businesses also have more opportunities to expand promotions and sales and reach a larger number of customers.

After nearly two years of operations, VNPAY-QR is participating with 20 banks in adopting the QR Pay feature and has nearly 10 million customers and more than 20,000 payment points. Customers can easily scan to pay when dining, shopping, taking taxis, paying cable TV, internet, and electricity bills, and shopping online, as VNPAY-QR has been and is spreading to all areas of life and becoming a new payment habit among a significant proportion of Vietnam’s population.

VNPAY-QR is the first code type in the Vietnamese market built according to the standards of the State Bank of Vietnam and meets EMVco international standards and was certified by international standardization organizations.

QR-MMS payment management system

QR-MMS, meanwhile, is the ultimate management system for businesses, allowing them to monitor online QR code payment transactions and report directly via a website or mobile software anytime, anywhere.

QR MMS is built on a foundation of modern technology, with a smart, logical and flexible interface providing an easy and convenient user experience with two user levels: agents and points of sale. Besides the management and tracking functions, agents can create QR codes for secondary points of sale or per product and track transactions of secondary units on their own QR MMS account. As a result, business can be more active in expanding their business and monitor, manage, or deploy their own business programs without the need for support from a software management unit.

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