Through this cooperation, ABBANK customers who are business households, traders, and businesses can access the modern payment ecosystem from VNPAY, which is convenient, flexible, cost-effective, and efficient. This is an important step in ABBANK's strategy to accompany and support customers with diverse business activities on the digital transformation journey, improve competitiveness, and catch up with the growing trend of cashless consumption.
ABBANK and VNPAY expect to bring a flexible payment ecosystem, cost-effective and suitable for the current operational practices of Vietnamese enterprises
With nearly 4 million small business households operating nationwide, this group of businesses and traders plays an important role in the activities of the economy, especially concentrated in traditional markets, tourist areas, food street and essential services. However, most small traders and businesses are still having difficulty accessing non-cash payment solutions due to limitations in equipment costs, technology infrastructure and usage processes.
With the advantage of understanding the retail market and a wide network of branches, ABBANK officially cooperates with VNPAY's technology platform to bring convenient financial solutions to help small traders and businesses "ease payment acceptance - easy cash flow management - easy compliance with legal regulations", thereby improving business efficiency and attracting more customers.
The first solution in the set of 3 solutions for small traders and businesses that ABBANK and VNPAY cooperate in implementing PhonePOS - Converting phones into smart POS devices. This solution will help small and medium-sized enterprises optimize equipment investment costs by turning NFC-powered Android phones (Near-Field Communications - short-range wireless communication technology, allowing two devices to exchange data when placed close together) into modern, simple and secure POS devices.
VNPAY's PhonePOS solution has recently achieved the MPoC security certificate - the latest international standard in mobile payments announced by the PCI Security Standards Council, and is currently being deployed at more than 10,000 enterprises nationwide.
ABBANK customers who are business households, traders, and businesses can also choose to use SmartPOS devices for diverse payment needs and integrate more functions depending on their needs, such as: card payments, chips, contactless, QR code scanning, printing invoices, transaction management, refunds and immediate checking at the point of sale. Or a simple solution is to make payments using VNPAY-QR codes through internet platforms.
The signing of the cooperation agreement between ABBANK and VNPAY is a strategic step, marking a new stage in the process of building a digital financial ecosystem for businesses. Not only stopping at integrating convenient solutions, we aim to accompany customers from individuals to business households, small traders, and businesses through coordinating to expand the network of payment acceptance points, optimize operations, and improve customer experience.
