VietUnion to initiate Payoo e-wallet trial in Vietnam

The initiative enables Vietnamese shoppers to make online purchases without disclosing their credit card or personal bank details on the internet. VietUnion is to provide the network infrastructure and technology needed for managing the transaction process for the Payoo customers.

In 2008, VietUnion signed an agreement with VeriSign, a provider of internet infrastructure services, to incorporate the VeriSign Identity Protection Authentication Service into Payoo. As a result, merchants and consumers can use a two-factor, one time password (OTP) security token to authenticate themselves as they login to Payoos system.

Payoo transactions can be done through the internet or on the mobile phone. The VietUnion is a member of the Sai Gon Investment Group.