Vietcombank promoted QR Code payment

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QR code payment could become the trend for issuing payment in the future

QR Code with checquered rectangles has appeared in Vietnam for 10 years, with the ability to integrate with advertisement pages of reputable brands. In the recent years, the features of QR Code in Vietnam has shifted toward assissting payment in consumers’ activities, in accordance to the changes in shopping habit of the young generation.

Not staying out of the global trend, Vietnam was expected to experienced the shifting in the payment methods – from cash payment to credit card payment and from credit card payment slowly moving toward mobile payment. QR Code payment is one of the fastest, safest and most convenient mobile payment methods for all 3 sides:

For customers: QR Code payment is highly secured, as it does not require customers to provide their personal information on other devices.

For sellers: QR Code payment helps saving money on hiring cashier or setting up a POS machine.

For banks: QR Code payment helps banks reducing their investments on ATM, POS and expanding their networks using their payment services.

Vietnam was expected to experienced the shifting in the payment methods – from cash payment to credit card payment and from credit card payment slowly moving toward mobile payment. (Photo: VnExpress)

According to the statistics of the Vietnam Payment Solution Joint Stock Company (VNPAY), by late 2018, there has been 50.000 places accepting QR Code payment on every fields.

Forestalling the trend of technology, Vietcombank has also integrated QR code payment into its two mobile payment applications - VCB-Mobile B@nking andVCBPAY. Both had the ability to process payment using QR code and can link to other interesting features.

The conveniences of QR Code payment in Digital Banking apps of Vietcombank

An important part of Vietcombank Mobile Banking’s ecosystem, VCB-Mobile B@nking, as well as VCBPAY has integrated various features in order to fully satisfy customers’ payment needs. QR Code payment is installed among those apps and can be fully developed when combined with other features of smart payments.

VCBPAY has integrated various features in order to fully satisfy customers’ payment needs. (Photo: Vietcombank)

Officially revearled in August 8th, 2018, VCBPAY is a technological product of Vietcombank aiming toward young customers. The feature of “Sending money requests” supporting sharing money in a group can be considered an unique feature and loved by many VCBPAY user, as it can help solving headaches about sharing money in gatherings. The entire complicated payment process of paying using cash => seperating bills => receiving money from friends => returning the changes would be simplified when the “host” representing the entire gathering uses QR code payment.

After scanning the QR code of the restaurant, the bills would appear on the smartphone. After payment, the customers could link their information to the feature of sharing payment – VCBPAY would send the money requests to the participants of the gathering and automatically complete the rest.

Vietcombank promoted modern payment method through many attractive promotion

Not only integrating the newest features on its mobile appllication, Vietcombank also promote the rejuvenation in the habit on using digital banking through many attractive promotions.

Recently, Vietcombank has implement the promotion program of “Scanning QR code – Hunting gifts for Tet with VCB-Mobile B@nking và VCBPAY”. Individual customer successfully using QR Code payment in VCB – Mobile B@nking and VCBPAY has the opportunity to have money be instantly refunded into their accounts, with a total value up to nearly 1 billion VND.

Vietcombank's promotion programme: “Scanning QR code – Hunting gifts for Tet with VCB-Mobile B@nking và VCBPAY”. (Photo: Vietcombank)

Furthermore, Vietcombank has simultaneously hosted media activities abroad many channels such as hosting the music – experiencing events in two big Shopping Malls in Hanoi and Ho Chi Minh City, releasing the music video “Thich la di”, using newspapers and digital channels… to promote QR code payment specifically and Vietcombank Digital banking generally.

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