Google launches e-wallet service in Vietnam
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Google launched its e-wallets in Vietnam Tuesday, allowing people to use them with Visa credit and debit cards issued by certain banks.
Google Wallet would allow Android users to add Visa credit and debit cards to their phones for payment, replacing physical cards. Supported banks are ACB, Sacombank, Shinhan Bank, TP Bank, Techcombank (credit card only), Vietcombank and VPBank.
Mastercard cards would be integrated to the e-wallet in a few more weeks, Google said.
Users would need to download the Google Wallet app from the Play Store and fill in necessary info.
“With millions of Vietnamese now using their phones every day to make payments, Google is excited to bring Google Wallet to Vietnam,” a press release quoted Chen Way Siew, Google Wallet Partnerships Lead of Google Asia Pacific, saying,.
“Google Wallet is easy to use as you don’t need to transfer money into the app. It acts as a digital container that holds digital versions of physical items found in an actual wallet, such as payment cards,” he added.
An e-Conomy SEA 2022 report by Google said e-payments were getting more popular and would reach a total transaction value of $143 billion in Vietnam in 2025. According to Visa statistics, contactless transactions account for around 37% of all transactions in Vietnam.
Questions & Answers
Q.Which banks currently support the Google e-wallet service in Vietnam?
Which banks currently support the Google e-wallet service in Vietnam?
Initially, the service supports Visa credit and debit cards from ACB, Sacombank, Shinhan Bank, TP Bank, Vietcombank, and VPBank. Techcombank is also supported, but only for credit cards. Other cards will be integrated later.
Q.How do users set up and use the new Google Wallet service?
How do users set up and use the new Google Wallet service?
Users must download the Google Wallet app from the Play Store and input the necessary information. It functions as a digital container for payment cards, meaning money does not need to be transferred into the app directly for transactions.
Q.When will Mastercard cards be compatible with Google Wallet in Vietnam?
When will Mastercard cards be compatible with Google Wallet in Vietnam?
Google has stated that Mastercard cards will be integrated into the e-wallet service in Vietnam within a few more weeks. This will expand the range of payment options available to users.
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