Visa collaborates with Vietnamese e-wallet apps

Monday 27 May 2024 14:23 CET | News

US-based Visa has announced its collaboration with three Vietnamese e-wallets, aiming to offer improved payment experiences to cardholders and SMEs. 

To offer more convenient payments to Visa cardholders and small and medium-sized enterprises (SMEs) in Vietnam, Visa partnered with MoMo, VNPAY, and ZaloPay, three e-wallets which operate in the region. The move is set to allow Visa cardholders to leverage their Visa card as a source of funds when shopping at merchants currently providing payments with the three e-wallets’ QR. By joining forces, Visa and the three companies focus on advancing Vietnam’s transition to a cashless society, by delivering contactless and cashless digital payment solutions that support both businesses and consumers.

US-based Visa has announced its collaboration with three Vietnamese e-wallets, aiming to offer improved payment experiences to cardholders and SMEs.

Visa’s plans in Vietnam

Considering Vietnam’s growth trajectory when it comes to active e-wallets, Visa intends to make secure and efficient payment methods available to anyone, despite their location in the country. In addition, while Vietnam advances its mission of becoming a cashless society, the success is set to also be supported by SMEs being able to embrace innovative solutions and offer consumers improved digital payment solutions. As SMEs represent a pillar in the country’s economy, the collaboration between the four companies intends to further assist them whilst supporting financial inclusion in the region.

Furthermore, the integration of Visa as a source of funds in the three e-wallets is set to provide benefits to both businesses and consumers, with SMEs being expected to increase sales, expand their customer base, and offer an enhanced user experience. Also, Visa cardholders can benefit from existing promotions and capabilities offered by their banks, including cashback, discounts, and accruing miles. According to officials, the e-wallets intend to enable Visa to rapidly expand its payment acceptance points nationwide, while maximising benefits and facilitating convenient transactions for users.

Additionally, by collaborating with companies operating in the financial landscape, Visa solidifies and advances its commitment and effort to drive digital payment adoption and transformation towards an inclusive financial environment in Vietnam.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: partner, partnership, e-wallet, digital wallet, mobile payments, QR code, QR payments, SMEs
Categories: Payments & Commerce
Companies: Visa
Countries: Vietnam
This article is part of category

Payments & Commerce


Discover all the Company news on Visa and other articles related to Visa in The Paypers News, Reports, and insights on the payments and fintech industry: