VPBank Wins “Best Online Payment Services Banking in Vietnam 2024” Award

VPBank has been recognized with the prestigious "Best Online Payment Services Banking in Vietnam 2024" award by International Finance Magazine (IFM). This accolade acknowledges VPBank's diverse and superior payment solutions tailored for small and medium-sized enterprises (SMEs).

IFM's award criteria focused on the diversity, excellence, and stability of the payment solutions VPBank provides to its SME clients. With a wide array of services, ranging from cards to POS and payment gateways, VPBankSME is well-equipped to meet the varied needs and business models of enterprises.

Leading the trend in corporate cards, VPBank launched the VPBiz card series, designed to empower businesses by enhancing capital strength and ensuring efficient, transparent cash flow management for all expenditures, thereby optimizing operational costs. Beyond attractive cashback policies, high card limits, and preferential installment interest rates, the VPBiz card also offers unique benefits for corporate clients, such as complimentary airport lounge access, Fast Track services, and preferential Green Fees at golf courses across Vietnam. Through its efforts to digitalize the card application process for businesses and deliver optimal products to customers, VPBankSME received two awards from Mastercard in December 2023: "Leading Bank in Corporate Card Growth Rate" and "Pioneering Bank in ICCP (Invoice Control Payment Platform) Solution." As of November 2023, the total number of new corporate cards opened at VPBank had increased six-fold compared to the same period in 2022, with an activation rate of up to 90%.

Regarding payment solutions, in addition to traditional POS and smartPOS services, VPBank has introduced VPBank Tap2Phone (T2P). This solution allows businesses, shops, and household enterprises to use their Android mobile devices as card payment acceptance terminals, replacing traditional POS and smartPOS machines. T2P accepts diverse cashless payment methods, from Contactless physical cards (Visa, MasterCard, and Napas) to the Tap & Pay suite, including Apple Pay, Samsung Pay, Google Pay, and Garmin Pay, all with the highest security standards. With T2P, customers can complete transactions quickly and easily integrate with existing sales management software, while also being provided with full features to support transaction inquiries and revenue management.

VPBank also developed the EcomPay online payment gateway to help businesses seamlessly integrate into e-commerce, suitable for both large corporations and SMEs with existing websites. Key features of EcomPay include multi-platform API integration on apps and web with streamlined and flexible processes, strict information security compliance, lightning-fast transaction processing, and optimized management features. As of April 2024, the total number of EcomPay gateways for VPBank customers exceeded 1,000, with transaction volumes reaching nearly VND 14 trillion. VPBank is also a pioneer in Vietnam in launching the ICCP (Invoice Control Payment Platform) solution, a powerful tool that helps businesses manage cash flow through unique identification codes based on usage frequency, industry limits, and validity periods, thereby enhancing online payment security and effectively controlling usage purposes.

Beyond its self-developed services, VPBank recently collaborated with OneFin and MasterCard to build and implement a one-tap EMV Contactless payment system for public transportation. This system has been piloted on bus and electric vehicle networks in Ho Chi Minh City, allowing customers to pay with various cards available in the market when using buses and other public transport. This payment method not only saves time but also helps public transport operators optimize management and easily operate service routes.

"With this diverse range of payment solutions, the 'Best Online Payment Services Banking in Vietnam 2024' award is a clear testament to VPBankSME's contributions and commitment to delivering optimal value for small and medium-sized enterprises. This is not only a significant milestone but also a driving force for VPBank to continue developing and providing superior financial services, contributing to the sustainable success of Vietnam's business community," a VPBank representative shared.

About International Finance Magazine (IFM): IFM is a premier finance magazine published by the UK's International Finance Publications Limited, specializing in news, reviews, and analysis of global financial markets. IFM boasts a substantial readership in Europe, the Americas, and the Middle East, and is rapidly expanding its readership in the Asia-Pacific market. In 2022, IFM also awarded VPBankSME the "Best Micro-Business Development Bank 2022" for the exceptional value and services it provides to businesses. For more detailed information and to register for VPBankSME's online payment services, please contact the hotline 1900 234 568 or visit https://smeconnect.vpbank.com.vn/the-va-giai-phap-thanh-toan.