UnionPay Ties with VNPAY and ECPay to Offer 15K Vietnamese Merchants Access to QR Code Payments

China’s UnionPay International (UnionPay), one of the world’s largest payment networks, has inked partnerships with online payments service providers VNPAY and ECPay to deploy UnionPay Quick Response (QR) Code at approximately 15K merchants across Vietnam.

Reportedly, UnionPay QR Code for payment has already served 45K merchants in Vietnam, including convenient stores, electricity service, F&B, healthcare, mini-mart, provision shop, retail, supermarket, telco, etc. To appeal to more merchants in this country, UnionPay has rolled out a 10% instant discount campaign at VNPAY's merchants for daily spend categories. 17 of VNPAY’s top merchants with a network of over 1,200 stores all over Vietnam are participating in UnionPay QR Code promotion, according to Nguyễn Ánh Tuyết, Head of Northern Business of VNPAY. 

"In line with the Vietnam Central Bank's vision for a cashless society, we are pleased to join hands with UnionPay to make QR Code for payment available at ECPay merchants and outlets nationwide. With our diverse businesses in electricity, provision shops, telephony, transport and more, we can help UnionPay to foster a richer ecosystem for UnionPay QR Code payment, and help to spur the adoption of e-payment methods, to transform the nation into a cashless one,"said Mr. LEEO (Li Wei), Deputy CEO, ECPay.

"Today marks a significant milestone for UnionPay International in Vietnam. As the first global payment network to deploy QR Code for payments nationwide, this affirms our commitment to bringing innovative payment solutions to the country to enable greater convenience, security and ease of payment for both consumers and merchants,” Huiming Cai, General Manager, UnionPay Southeast Asia, noted. “We have seen how the pandemic have created a marked increase in demand for contactless payments like QR Code for payment, so we are pleased to be able to respond quickly to this changing payment need of our customers in Vietnam."

This August, Fazzaco reported that UnionPay has partnered with the International Bank of Tajikistan​ to launch the country's first contactless e-wallet.