UnionPay QR Code Payment to Be Launched in Vietnam

UnionPay International announced today that it has inked a cooperation agreement with Sacombank to enable hundreds of merchants in Vietnam to accept UnionPay QR code payment in the first quarter of this year. These merchatns include supermarkets, restaurants, cafes, and clothing stores, etc. UnionPay cardholders from mainland China will soon be able to pay with UnionPay QR code via the mobile APP of “UnionPay” in Vietnam.

To date, UnionPay is accepted at almost all ATMs and over 90% of merchants in Vietnam. With the continuous economic growth in Vietnam, the number of smartphone users is growing rapidly. At the end of 2016, the Vietnam government issued a five-year plan to build a cashless society. Going with this trend, UnionPay is accelerating the roll-out of its mobile payment products in Vietnam, leveraging on its advantages in acceptance network, product development and payment technologies.

Sacombank is one of the largest non-state-owned commercial banks in Vietnam, and is also the first local bank that has issued UnionPay cards. This time, UnionPay International and Sacombank enhance their cooperation by taking the lead to launch UnionPay QR code payment in Vietnam. In the future, Sacombank will launch its own mobile APP. The local customers will be able to link their UnionPay cards issued by Sacombank to the APP to enjoy the safe and convenient UnionPay QR code payment service.

Since the launch of the “UnionPay” APP, UnionPay International has been accelerating the roll-out of UnionPay QR code payment in markets outside mainland China, and is building a demonstration zone in Southeast Asia. On the one hand, UnionPay International is enabling more shopping and catering types of merchants to accept UnionPay QR code, creating more usage channels for the “UnionPay” APP. These merchants include BreadTalk, Lady M and Itacho Sushi in Singapore, Colourmix in Hong Kong and Macau, as well as restaurants in Macau. On the other hand, UnionPay International enhances its cooperation with banks and retail groups to launch e-wallets. Singaporean customers with UnionPay cards issued by Bank of China (Singapore), for instance, are able to enjoy UnionPay QR code payment service via the bank’s e-wallet.

Recently, UnionPay International also signed an agreement with Vietinbank to issue the first QuickPass-enabled UnionPay card in Vietnam. Cardholders of this UnionPay platinum credit card can not only make contactless payment at over 10 million POS terminals worldwide, but also enjoy card-using benefits such as high-end dining privilege, global assistance service, global concierge, and access to airport VIP lounge.