Currently, telecommunication operators are actively involved in the payment process through various forms. As one of the leading corporations in information technology and telecommunications, catching up with the trend of the Industrial Revolution 4.0, Vietnam Posts and Telecommunications Group (VNPT) has built and implemented a digital financial ecosystem. In particular, VNPT has built VNPT Pay, a non-cash payment gateway solution that allows payments for many types of services.

As an indispensable development trend in the context of the Industrial Revolution 4.0, the promotion of electronic payments towards a cashless society has created a dual effect that both stimulates economic growth and supports a comprehensive financial strategy through universalizing financial-banking services.

Vietnam's Decision No. 2545/QD-TTg was issued on December 30th 2016, approving the project on developing business centers in Vietnam in the period of 2016 - 2020. The Decision reflected the commitment of the government in promoting non-cash payment, as well as in promoting e-payment to support e-government implementation and to provide public services at level 3 and level 4.

Currently, telecommunication operators are also actively involved in the payment process through various forms. As one of the leading corporations in information technology and telecommunications, catching up with the trend of the 4th industrial revolution, VNPT has built and implemented a digital financial ecosystem. In particular, VNPT has completed the system of non-cash payment solutions through VNPT Pay payment gateway and has implemented payments for many types of services.

VNPT Pay is stepping up the digital payment transformation for VNPT's services at all of the group's 63 business centers nationwide, especially in deploying the VNPT Pay wallet - a non-cash payment application in sales, and charge collection for all agents nationwide. In addition, VNPT Pay has completed and provided sufficient utilities such as basic features of payment services, payment tools for essential services including electricity and water, payment tools for commercial services, and most remarkably, the ability to pay for services at VNPT Pay's network of more than 40,000 payment points nationwide. VNPT Pay allows customers to pay in full via bank accounts in Vietnam. Customers can use the full range of interbank transfer utilities and services, 24/7 via VNPT Pay.

In the first quarter of 2020, VNPT Pay was successfully integrated with the online booking service of National Hospital of Tropical Diseases. VNPT Pay is now promoting to sign an implementation contract with the medical center of Long An province, surveying to deploy the service for Bach Mai Hospital's second facility in Ha Nam, and other health facilities in Vinh Phuc, Tien Giang... This solution provides customers with convenient means of payment, allowing them to use mobile apps to make payments directly. VNPT supports various payment channels such as QR code scanning, direct payment via App, bank-linked e-wallet. Family members can pay hospital fees on be half of patients. In the coming time, VNPT Pay will deploy its medical payment service spanning 64 provinces with a total target of 559 hospitals and health facilities, focusing on localities with a large number of hospitals as well as health facilities.

Not only providing a quick payment method for services in the IT ecosystem of VNPT, VNPT Pay also implements payment for public services at level 4 so that people can complete public service procedures and pay online through the national public service portal as well as through the public service portals of ministries, departments or local offices.

In December 2019, the Government officially opened the National Public Service Portal. VNPT was honored to be the provider of all platforms and solutions for it. VNPT Pay was selected as a payment service provider equivalent to the banks on the Portal, being the first payment intermediary to deploy on the National Public Service Portal.

To this moment, VNPT Pay has been ready to provide solutions and has provided public service payment method to 7 provinces. VNPT will continue to connect local public services to the National Public Service Portal following given timeline as well as the government's goal of payment transformation for public services.

Although non-cash payment is still in its initial steps, it is undeniable that non-cash payment methods in general and VNPT Pay in particular bring many great benefits, such as reducing cost and time. Besides, VNPT Pay commits to preserve its strength, including transparent non-cash transactions, clear cash flow, accurate settlement, reliable security.

However, during the implementation process, VNPT Pay also encountered many difficulties from outdated regulations and policies, and it took a lot of time and effort for the development team to transform the payment model to an electronic one.

Despite such difficulties, the prospect of VNPT development is very positive with a great market potential. Especially, VNPT's own employers and existing customers are also a large and potential market. In addition, the application of electronic payment in the field of education, health ... is still modest and limited, which is also a significant market for VNPT Pay to exploit. In addition, the state bank and the government are preparing regulations to allow carriers, including VNPT, to provide Mobile money service. This will be a great opportunity for VNPT to provide and popularize electronic financial services to all people, especially those in remote areas who have little access to traditional financial services. This is also a big expectation of the Group and with great determination, VNPT Pay team is preparing to deploy solutions when the State Bank and the Government allow.

According to Mr. Nguyen Dang Thang - Director of VNPT Fintech Center, in the near future, VNPT Pay sets goals: "VNPT Pay's short-term direction is to implement digital conversion for VNPT itself. In 2020, VNPT Pay will help 36% of VNPT's customers to use non-cash payment method. VNPT will co-operate with enterprises in providing digital converted services to customers. In the field of education, VNPT aims at providing payment services to about 6,000 schools nationwide. In the field of health care, VNPT aims at implementing medical examination registration and medical service fee payment for more than 500 medical service providing points. In addition, the public service group is also an important goal of VNPT in 2020. In addition to accompanying the government in promoting the transformation of public service to level 4, VNPT is selected as the first payment intermediary to provide payment utilities on the National Public Service Portal. This is also a key task that the government office set to bring all available level 4 regional public services to the National Public Service Portal. Moreover, several important public services will also be brought to the Portal, such as paying traffic fines, driver license renewal services, personal tax collection...  

With the network of more than 40,000 payment points nationwide and being one of the payment channels for the National Public Service Portal, VNPT Pay will continue to make further improvements in services, promoting non-cash payment, gradually successfully implementing e-government and developing the digital economy in Vietnam.

VNPT - Media