The first Vietnamese bank to implement Tap to phone and NFC technology
Sacombank and Visa electronic payment technology company cooperate to deploy Tap to phone technology, accept contactless payment by mobile phone, for the first time in Vietnam.
Tap to phone allows merchants to use a mobile phone or tablet as a POS device for contactless payments. Along with the Rapid Seller Onboarding solution, approving the super-fast seller, businesses / household businesses can complete the setup, register online to become a card accepting unit quickly and easily.
Contactless payment acceptance by mobile phones using software development tools (SDK), integrated by Sacombank on mMerchant application, a mobile application exclusively for merchants to meet respond to the need to deploy payment methods quickly and conveniently.
Mr. Pham Duc Duy – Director of Sacombank Card Center introduced Tap to phone and NFC technology. (Photo: Sacombank).
Currently, Tap to phone has been applied to Android mobile devices that support NFC short-range wireless connection technology and will be expanded to iOS in the future.
This solution meets the requirements of cost effectiveness and contactless payment for merchants and businesses that need multiple mobile payment outlets such as insurance companies, shipping receipts at home, restaurants, table payment, small businesses … without having to install additional hardware equipment, transmission lines, while ensuring safety and security.
With simple operation, sales staff can quickly and easily receive payments anytime, anywhere. After entering the amount, the buyer of goods / services using Visa-branded contactless card touches the seller’s mobile device to complete the transaction.
The cardholder does not need to sign the invoice under 1 million VND. For invoices of over VND 1 million, the seller will instruct the cardholder to sign on the screen of their mobile device and enter email to receive the e-invoice.
Dai-ichi Life Vietnam, Prudential Vietnam and Tiki Joint Stock Company were the first partners to apply this modern technology.
Sacombank and Tiki signed a cooperation agreement to implement contactless payment acceptance by mobile phones. (Photo: Sacombank).
Mr. Nguyen Minh Tam, Deputy General Director of Sacombank, said: “This cooperation between Sacombank and Visa has made Vietnam the first country in the world to apply a fully automatic closed process for approval. a shopkeeper comes to accept card payments.
With the strength in retail activities along with a rich customer base from insurance businesses, e-commerce to small and medium enterprises, household businesses … this solution will help existing customers as well as customers. Sacombank’s potential to increase sales, save operating costs, and at the same time contribute to promoting the process of converting non-cash payments, bringing general benefits to the economy “.
Leaders of the State Bank of Ho Chi Minh City Branch, Sacombank and representatives of the first 3 partners deployed Tap to phone. (Photo: Sacombank).
According to Visa surveys in 2020, smart connectivity is increasingly popular in Vietnam with more than 85% of consumers owning at least one e-wallet or payment application and more than 40% of consumers using contactless payments.
Besides, with 129.5 million mobile subscribers, more than half of them use 3G and 4G, showing strong demand for digital payment solutions of consumers.
Ms. Dang Tuyet Dung, Visa Director of Vietnam and Laos said: “In the context of Vietnamese consumers currently increasing their use of digital payment methods after COVID-19 translation, we sincerely thank you. Sacombank has accompanied Visa to launch contactless payment technology by mobile phone, and at the same time, supports consumers and small and medium enterprises across the country to easily access digital payment methods. .
Accepting contactless payments with your mobile phone is an economical and easy-to-use solution to transition to the contactless era. This solution is not only useful for in-store payments, but can also be used on delivery, helping consumers to make contactless payments at home upon receipt “.
Mr. Tran Dinh Quan, Chairman and General Director of Dai-ichi Life Vietnam, said: “Sacombank is the exclusive distributor of life insurance products of Dai-ichi Life Vietnam. Contactless payment by mobile phone co-operated by Sacombank and Visa will assist customers in convenient, quick, and timely payment of premium, helping to simplify the payment and contribution process. the part that enhances the customer experience “.
Ms. Nguyen Thi Giang, Deputy General Director of Insurance Technology and Transaction of Prudential Vietnam, said: “As one of the pioneers in digital insurance, Prudential Vietnam is constantly improving. products and services to keep up with the digitalization of the market.
Accepting contactless payments by mobile phone is a great opportunity for us to speed up the payment process for insurance plans and provide a better customer experience. Accompanying the implementation of contactless payment technology by phone with Visa and Sacombank, we hope this solution will bring more choices and more convenience to our loyal customers “.
Representatives of Sacombank, Visa and Tiki leaders answered questions of guests about the implementation of the latest electronic payment solutions. (Photo: Sacombank).
Home delivery service has been used by 87% of consumers in Vietnam, of which 64% of consumers said they make a cash payment upon receipt of the goods, indicating contactless payment by The mobile phone is an ideal payment solution for Tiki to deliver home contactless delivery.
Ms. Nguyen Thi Anh Van, Chief Financial Officer of Tiki, shared: “Currently, the rate of non-cash payments on Tiki accounts for more than 40%, which is quite high compared to the general level in e-commerce. From 2019, Tiki has implemented a cashless payment solution via mPOS machine on delivery, to help customers relieve the inconvenience of carrying cash, while promoting stronger payment habits. no cash.
And so far, we are very happy when the two strategic partners Visa and Sacombank continue to offer contactless payment solutions by mobile phones. This is a great driving force contributing towards the cashless society in Vietnam. This solution also brings convenience and safety to Tiki’s transportation team when serving customers in major cities across the country “.
Experience the Tap to phone technology at the launch ceremony. (Photo: Sacombank).
On the same day, Sacombank and Visa also combined to launch NFC, Contactless Payment by mobile phones, for customers using Sacombank Pay application on mobile phones with public support. NFC connection technology.
This feature allows users to turn their mobile phone into a non-physical card for contactless payments on NFC POS or Tap to phone mobile devices without having to carry a Visa card.
Source: vietnambiz.vn – Translated by fintel.vn
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