Sacombank, Visa, and the top 3 e-wallets connect QR code payments


Sacombank and Visa have partnered with the top three e-wallets in Vietnam - MoMo, VNPAY, and ZaloPay - to provide a more convenient payment experience for cardholders and small and medium-sized enterprises (SMEs).

Mr. Nguyen Minh Tam - Deputy CEO of Sacombank (far right) participated in the signing ceremony with representatives from Visa and the three e-wallets.

With this collaboration, customers can pay for goods and services via QR codes from MoMo, VNPAY-QR, or ZaloPay using funds from Visa cards, with Sacombank as the payment bank. Previously, the QR code payment feature via these e-wallets was limited to direct funds from the wallet or domestic payment cards. Soon, customers will be able to use both international Visa debit and credit cards for payments.

Ms. Dang Tuyet Dung, Manager of Visa Vietnam and Laos stated: “Visa is delighted to partner with Sacombank and the three e-wallets to develop safe and efficient payment methods for everyone across the country. Vietnam is gradually transforming into a cashless society, a process that will be accelerated by SMEs ready to innovate and provide consumers with advanced, creative digital payment solutions.”

Integrating Visa cards as a payment source in the top three e-wallet applications in Vietnam will benefit both businesses and consumers. For SMEs, this means gaining more from an expanded customer base, thus boosting sales. Consumers will enjoy an enhanced shopping experience with more digital payment options and additional promotions and incentives from partners.

“Sacombank currently leads the network of payment acceptance in Vietnam by pioneering the implementation of various modern payment methods, compatible with the business needs of enterprises from online to offline payments, from chain businesses to small retail stores. With this partnership, Sacombank commits to working with Visa and the e-wallets to provide customers with fast, safe, and convenient payment experiences for goods and services, while helping sellers save costs and increase revenue,” said Ms. Nguyen Phuong Huyen, Deputy Director in charge of Sacombank’s Retail Banking Division.

Visa's Consumer Payment Attitudes study in 2023 revealed that up to 88% of Vietnamese users prioritize cashless payments, and 62% have been using QR payments. This trend is expected to continue growing, becoming one of the main payment methods, contributing to Vietnam's goal of becoming a cashless society.

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