Many young people lined up to experience technology and services at the NAPAS booth.
Modern, low-cost payment platform
At the Cashless Day 2025 event, Mr. Nguyen Hung Nguyen - Deputy General Director of Vietnam National Payment Joint Stock Company (NAPAS) shared information: In the first quarter of 2025 alone, Vietnamese people made about 5.5 billion cashless transactions, of which 4.5 billion transactions took place on digital channels, with a total value of 40 million billion VND.
Compared to global standards, Vietnam is now approaching the level of Thailand and India in terms of average cashless transactions per capita, and is rapidly narrowing the gap with China, one of the leading countries in digital payments.
According to Mr. Nguyen, this development is strongly promoted by the "new lifestyle in the digital environment", in which all activities from studying, working, healthcare, entertainment to consumption and use of public services can take place seamlessly on an online platform. The people's need for comprehensive digitalization has become an important driving force for the development of the digital economy and cashless payment solutions.
Currently, the country has about 200 million bank accounts in circulation, of which about 1/5 - nearly 40 million accounts - regularly participate in digital transactions.
NAPAS said that the national payment infrastructure platform that the unit is managing has achieved world- leading service quality, especially in the field of account-to-account payments. With more than 20 years of development, NAPAS currently connects the entire banking system, payment intermediaries and major partners such as Visa, Mastercard, JCB, Samsung... to form a network of card acceptance and issuance according to global standards.
Mr. Nguyen Hung Nguyen - Deputy General Director of Vietnam National Payment Joint Stock Company (NAPAS)
VietQR covers the whole country, aiming at the region
One of the outstanding solutions deployed by NAPAS is the fast money transfer service via VietQR code - which has become a popular form of payment across public service channels, e-commerce and even personal transactions.
Launched in 2021, VietQR is designed as an open standard, making it easy for members of the ecosystem to integrate and use. To date, VietQR has been recognized as one of the most user-friendly, fast and secure payment methods.
Not stopping at the domestic level, NAPAS has introduced an expanded brand – VietQRGlobal – to pave the way for cross-border payments. The goal is that Vietnamese people can pay by QR code in countries in the region such as Japan, Korea, China and Thailand, while international visitors to Vietnam can also use this technology.
"We want Vietnamese customers to be able to use VietQR abroad as conveniently as at home, and at the same time welcome international visitors to Vietnam with a seamless cashless payment experience," Mr. Nguyen emphasized.
In parallel with expanding services to end users, NAPAS continues to accompany management agencies in implementing online public service payments. In 2024, payment services via the National Public Service Portal will reach nearly VND 1,000 billion in revenue, doubling that of the previous year.
Notably, recently, NAPAS also deployed one-touch payment service using NAPAS card on metro line No. 1 of Ho Chi Minh City (Suoi Tien - Ben Thanh) - an important step in integrating digital payment with smart urban transportation.
In particular, Mr. Nguyen Hung Nguyen presented 4 major commitments of NAPAS.
The first is to provide modern, top quality payment technologies.
Second, NAPAS will deploy services at the lowest cost and price – currently among the cheapest in the world.
Third, the NAPAS representative affirmed that it will always accompany the Government in popularizing payment services as well as paying for public services online. NAPAS is having projects with the State Bank to improve people's peace of mind when participating in electronic transactions and cashless payments through specific measures such as early warning when there is a possibility of suspicion, fraud, or counterfeiting.
Fourth, NAPAS will coordinate to build the entire infrastructure based on core technology "made in Vietnam", developed by Vietnamese engineers - ensuring proactiveness, safety and sustainability.
Experience the digital explosion at Cashless Festival 2025
Within the framework of the "Cashless Day 2025" program, NAPAS brought many attractive interactive activities to Nguyen Hue walking street (HCMC), attracting a large number of people to participate. At NAPAS's booth, visitors experienced modern payment technologies such as Apple Pay, VietQRPay and VietQRGlobal. Many gifts such as cloth bags, stuffed animals, and mini fans were given away immediately after users successfully made transactions.
Participants were excited to receive meaningful gifts and commented that cashless payments are very convenient now, "all you need is your phone to go anywhere". At the same time, people expect small traders and businesses to soon update digital payment methods to synchronize consumer experiences.
NAPAS also cooperated with Payoo and the KOI Thé milk tea chain to launch attractive promotions. Customers who pay with a NAPAS card via Apple Pay or VietQR code will receive a discount of up to 25,000 VND, with no limit on the number of times they can receive the promotion during the festival.
With the theme "Cashless payment promotes digital economy", the series of activities for Cashless Day 2025 is organized in the final year of implementing the 2021-2025 Project on developing cashless payments according to the Prime Minister's Decision. The program is organized by Tuoi Tre Newspaper, Payment Department (State Bank), Banking Times in coordination with many partners, with the support of a series of banks, e-wallets, and large corporations such as VPBank, Mastercard, MoMo, Sacombank, Vietcombank, TikTok Shop, etc.
Not only a technology event, this is also an opportunity for people to access and experience digital lifestyle through a series of workshops, minigames, music performances, large promotion series such as "Shopping Season" in Ho Chi Minh City and nationwide promotions. NAPAS plays the role of national financial switching infrastructure, constantly investing in expanding international connections through cooperation with the Asian Payment Network (APN), card organizations and global payment systems. With this strategy, Vietnam can expect to continue to lead the region in digital payment transformation in the coming years.
Mr. Minh
Source: https://baochinhphu.vn/viet-nam-but-pha-voi-thanh-toan-so-hien-dai-chi-phi-thap-102250615184506254.htm
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