Digital payments pave the way for Vietnamese goods and smarter retail

Digital payments pave the way for Vietnamese goods and smarter retail

QR code payments offer advantages beyond convenience, improving cash-flow management by enabling real-time transaction tracking and data analytics.

Delegates at the signing ceremony on October 24. — VNS Photo Ly Ly Cao

Việt Nam's retail sector is entering a new phase of digital transformation as Central Retail Vietnam and the National Payment Corporation of Vietnam (Napas) partner to expand VietQR Pay, a cashless payment solution designed to simplify transactions, enhance transparency and promote the consumption of Vietnamese goods.

The initiative was highlighted at the event at GO! Thăng Long on October 24, where representatives from both sides reaffirmed their commitment to accelerating digital payments nationwide.

Olivier Langlet, CEO of Central Retail Vietnam, described the partnership as a practical step in modernising the country’s payment ecosystem while creating new opportunities for local brands. 

He said: "A couple of days ago, I was in a meeting with a department store in Thailand, and they asked what kind of fashion brands could be sold there. We were able to identify five Vietnamese brands that could be sold in Thailand. 

"We also want to bring Vietnamese products to foreign markets."

The CEO emphasised that the adoption of QR code payments will not only make transactions easier for customers in both Việt Nam and Thailand but also support the company's ongoing digitalisation. 

"We are supporting QR code payment across all 350 of our stores in Việt Nam, not only in food retail but also in non-food sectors," Langlet said.

He acknowledged that while Việt Nam has made significant progress in digital transformation, further efforts are needed both nationwide and within corporations. 

"Digitalisation still needs to be improved in the country and also in our company. We are working hard to make the lives of our colleagues and our customers as easy as possible," he added, thanking Napas and the Ministry of Industry and Trade (MoIT) for promoting the cooperation and providing Central Retail with a platform to showcase this initiative.

From Napas's perspective, VietQR Pay is emerging as a key instrument in advancing Việt Nam’s cashless agenda. 

Delegates at the signing ceremony on October 24. — VNS Photo Ly Ly Cao

Nguyễn Đăng Hùng, deputy general director of Napas, said that VietQR Pay is not just another transfer method but a fully integrated payment service that brings measurable benefits to both consumers and retailers.

"With VietQR Pay, we are not only enabling domestic payments," Hùng said.

"In the future, under the central bank's guidance, Napas will expand connectivity to other countries. This means both Vietnamese and foreign shoppers visiting Việt Nam will be able to scan VietQR codes and pay instantly, and merchants like Central Retail will not need to change their systems at all."

He highlighted that QR code payments offer advantages beyond convenience. For large retailers, this system improves cash-flow management by enabling real-time transaction tracking and data analytics. 

"We support retailers with comprehensive transaction data that help them manage cash flow better and enhance operational efficiency," he said.

According to Hùng, VietQR Pay has become one of the most convenient payment methods currently available in Việt Nam, offering a faster and safer alternative to traditional bank transfers. 

"Unlike peer-to-peer transfers, VietQR Pay is a structured payment service that integrates seamlessly with retail systems," he said.

Trần Hữu Linh, director general of the Department of Domestic Market Management and Development under MoIT, praised the initiative as a model for promoting digital consumption and Vietnamese goods. 

The integration of secure, interoperable digital payments through partnerships like Napas and Central Retail is expected to stimulate domestic demand, strengthen consumer trust and further Việt Nam’s goal of becoming a regional leader in financial digitalisation. 

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