NTT Data to support VietUnion payment service
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Japanese payments company NTT Data Corporation has agreed to take on pioneer Vietnam fintech company VietUnion Online Services, which has an intermediary payment services licence issued by the State Bank of Vietnam.
VietUnion, a group company of Saigon Construction Corp (SCC), mainly provides payment services through big chain retailers such as convenience stores.
VietUnion has been expanding its payment business primarily through Payoo, which enables users to make payments to about 4000 stores, including supermarkets and in shopping centres.
Payoo also has a smartphone app that can be used for internet banking, and it provides software for mobile POS systems, smart cards for transport and tuition fee management for more than 1700 schools in Ho Chi Minh City.
With more than 30 years of experience in the payments business in Japan, NTT Data will help VietUnion expand its non-cash payment services and help develop Vietnam’s payment infrastructure.
NTT Data will introduce Payoo and other payment services to its customers in global eCommerce and financial institutions in APAC regions through collaborations with its other companies – iPay88 in Malaysia, NTT Data Hong Kong, and NTT Data Thailand.
Questions & Answers
Q.What kind of payment services does VietUnion currently offer?
What kind of payment services does VietUnion currently offer?
VietUnion mainly provides payment services through large chain retailers like convenience stores and supermarkets. Its Payoo platform also supports internet banking via a smartphone app and provides software for mobile POS systems and smart cards for transport and school fees.
Q.How will NTT Data help VietUnion expand its operations?
How will NTT Data help VietUnion expand its operations?
NTT Data will support VietUnion in expanding its non-cash payment services and developing Vietnam's payment infrastructure. It will also introduce Payoo and other services to its global eCommerce and financial institution clients in APAC.
Q.What is the primary role of Payoo in VietUnion's business?
What is the primary role of Payoo in VietUnion's business?
Payoo is VietUnion's main platform for expanding its payment business, allowing users to pay at around 4000 stores, including supermarkets and shopping centres. It also offers a smartphone app for internet banking.
Q.How will NTT Data use its existing network to promote VietUnion's services?
How will NTT Data use its existing network to promote VietUnion's services?
NTT Data plans to collaborate with its other companies, such as iPay88 in Malaysia, NTT Data Hong Kong, and NTT Data Thailand. This network will help introduce Payoo and other payment services to NTT Data's customers in global eCommerce and financial institutions across APAC.
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