Sacombank’s Tap to Phone technology wins Trust and Use award 202209/12/2022
In 2020, Sacombank was the first bank in Viet Nam to launch Tap to Phone technology that enables merchants to use their mobile phones and tablets as POS terminals for contactless payments. Thanks to that, businesses with a wide distribution network, and small and medium-sized businesses can all deploy this solution of accepting payment at the point of sale at a low cost.
The solution is especially suitable for mobile micro businesses such as restaurants, grocery stores, traders at traditional markets, and shippers. Businesses and business households can easily register to become a Sacombank card payment acceptor at https://card.sacombank.com.vn. The request will be processed through fully automated digital solutions and completed in just five minutes. After successful registration, customers can download Sacombank's mMerchant app on Google Play to their mobile phones/tablets to use the Tap to Phone feature as a POS machine for contactless payment.
The technology helps reduce transaction time, while still ensuring safety and security, at the same time, reduce the cost and the time to install the payment acceptance machine. Customers only need to tap their contactless cards on a seller's mobile device branded Visa, Mastercard, JCB, Napas to complete the payment.
Previously, Tap to Phone won the Sao Khue Award 2022 for excellence product in digital banking of the software industry from the Vietnam Software and IT Services Association (VINASA).