RELEASED DATE 25 Oct 2022
On 12 October, the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) and Vietnam Payment Solution JSC (VNPAY) inked a deal to boost their cooperation.
Under the deal, VNPAY will provide the highest-quality and quickest payment and digital services to the bank in accordance with law, ensuring competitiveness in the market. Meanwhile, BIDV commits to the provision of best banking and consulting services to the company and its employees.
"VNPAY has invested greatly in research and application of new technologies. The cooperation with VNPAY will help BIDV leverage on the company’s technologies to quickly apply and provide to millions of customers. The deal will pay the way for our long-term investments in products and services, which would bring substantial benefits to both parties in the future," said a VNPAY representative.
BIDV said its relations with VNPAY are entering a new phase, in which technologies act as a catalyst for new products, new services and new cooperation.
“This is a challenge but also an opportunity for BIDV and VNPAY to bring the partnership to a new level, creating benefits for both sides, community and society. BIDV values the comprehensive strategic partnership with VNPAY and is glad to have VNPAY as a company on the path ahead”.
BIDV and VNPAY said they will continue to deploy more solutions and services in the field of finance - banking in order to bring the best experience to customers, contributing to the socio-economic development of the country as well as the realization of the objectives in the National Comprehensive Financial Strategy.
BIDV is the oldest and largest commercial bank in Vietnam with nearly 1,100 branches and transaction offices nationwide. The bank, with a strong presence in five different countries and territories, topped VND2 quadrillion (USD85 billion) in assets by Q3-2022.
VNPAY is a leading company in digital payment in the country. It provides Mobile Banking services to over 40 commercial banks so far, meeting the diverse financial needs of customers. VNPAY is one of the pioneers to launch VNPAY-QR payment service at nearly 200,000 merchants.