Vietcombank strongly promotes QR Code payment

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

QR Code with array of black and white squareshas appeared in Vietnam for 10 years, with the ability to link to advertisement pages of reputable brands. In the recent years, the features of QR Code in Vietnam has shifted toward assisting payment in consumers’ activities, in accordance to the changes in shopping habit of the young generation. 

Not staying out of the global trend, Vietnam has been expecting to experience the shift in the payment methods – from cash payment to card payment and  slowly moving toward to 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 to save cost  on hiring cashiers or setting up POS machines.

For banks: QR Code payment helps banks to expand their payment network instead of investing on ATM, POS.

The expecting trend in payment methods in Vietnam:from cash payment to card payment and slowly moving toward mobile payment. (Photo: VnExpress)

According to the statistics of the Vietnam Payment Solution Joint Stock Company (VNPAY), by late 2018, there are 50.000 points to accept payment of QR codes in all areas. . 

Forestalling the trend of technology, Vietcombank has also integrated QR code payment into its two mobile payment applications - VCB-Mobile B@nking and VCBPAY. Both provide QR code payment and other interesting features. 

The convenience of QR Code payment in Vietcombank’s E-Banking services

Within Vietcombank’s Mobile Banking ecosystem, VCB-Mobile B@nking, as well as VCBPAY has integrated various features in order to fully satisfy customers’ payment needs. In which, QR Code and other smart payment methods are combined to optimized functions. 

Vietcombank’s Mobile Banking ecosystem has integrated various smart payment features. (Photo: Vietcombank)

Officially launched  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 as a unique feature and is loved by many VCBPAY users, thanks to that feature, sharing money in gatherings has become easier and interesting. The entire complicated payment process of paying using cash => separating bills => receiving money from friends => returning the changes will  be simplified when the “host” uses QR code payment. 

After scanning the QR code of the restaurant, for example, the payment information will be displayed on the phone screen. Then, customers easily complete their transaction  and use “Sending money request” feature to send money request  to other participants.. 

Vietcombank has promoted modern payment methods through many attractive promotions

Not only integrating the newest features on its mobile applications, Vietcombank has also promoted many attractive promotions to attract E-banking users..

Recently, Vietcombank implemented the promotion program of “Scanning QR code – Hunting gifts for Tet with VCB-Mobile B@nking and  VCBPAY”. Individual customers who successfully used QR Code payment in VCB – Mobile B@nking and VCBPAY had the opportunity to get the cash back into their account, with a total value of up to nearly 1 billion VND.

VCB-Mobile B@nking has been awarded as the best Mobile initiative application or program by The Asian Banker.

Furthermore, Vietcombank has simultaneously hosted media activities via various channels such as: hosting the music – experiencing events at  two big Shopping Malls in Hanoi and Ho Chi Minh City, releasing the musical video named “Thich la di”, newspapers and digital channels… in order to promote QR code payment specifically and Vietcombank Digital banking generally. With the investment in technology and leading in modern payment trends, by 2020, Vietcombank aims to be ranked as  No. 1 bank in Vietnam, one of the 100 largest banks in the region, one of the 300 largest financial banking groups in the world and managed under the best international practices.

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