Visa, VNPT-Media agree to provide secure transactions for merchants, consumers

Visa, VNPT-Media agree to provide secure transactions for merchants, consumers

Visa, the global leader in digital payments, and VNPT-Media, a member unit of Vietnam Posts and Telecommunications Group (VNPT), announced a strategic partnership to advance digital payment solutions and enhance financial inclusion across Việt Nam.

The agreement signing ceremony between Visa and VNPT-Media to enhance payment security for merchants and clients. — Photo Courtesy of Visa Vietnam

Visa, the global leader in digital payments, and VNPT-Media, a member unit of Vietnam Posts and Telecommunications Group (VNPT), announced a strategic partnership to advance digital payment solutions and enhance financial inclusion across Việt Nam.

According to the agreement, the two companies will collaborate to deliver innovative digital payment solutions by integrating Visa's advanced technologies, including Pay by Wallet and Unified Commerce Solutions (Cybersource), into the VNPT Money ecosystem. 

This collaboration, they said, aimed to provide seamless and secure transactions for merchants and consumers, while also offering VNPT customers simplified access to digital financial services and convenient cross-border payments.

"This strategic alliance aims to drive digital transformation, foster innovation, and stimulate economic growth by enhancing digital payment solutions and financial inclusion in Việt Nam. Small and medium-sized businesses are vital to Việt Nam’s economy. By leveraging Visa’s advanced payment technologies, we can empower these businesses to access necessary financing, grow, and significantly contribute to the nation's economic development,” said Dung Đặng, country manager for Visa Vietnam and Laos.

Aligned with Việt Nam's National Digital Infrastructure Plan to 2030, this partnership will enhance public sector transactions through Visa Government Solutions, ensuring greater transparency, security, and efficiency. 

Furthermore, Visa and VNPT-Media will support the digitalisation of small and medium-sized businesses (SMBs) by using data insights to create alternative credit scoring mechanisms, thereby facilitating access to capital and encouraging financial institutions to offer more funding opportunities. This initiative is expected to empower SMBs, fostering growth and contributing to economic development in Việt Nam.

By combining the expertise of Visa and VNPT-Media, this partnership will accelerate the development and expansion of VNPT-Media's digital financial ecosystem. This collaboration is aligned with VNPT Group's vision of becoming a key technology leader in Việt Nam, driving sustainable digital transformation across industries and contributing to the advancement of Việt Nam's digital economy and society.

As a key player in VNPT Group's national digital transformation strategy, VNPT-Media enhances VNPT's market offerings with robust infrastructure and a digital financial ecosystem. 

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