HÀ NỘI — VNPAY-QR developed by Việt Nam Payment Solution Joint Stock Company (VNPAY) was honoured as a Việt Nam National Brand this year at the Việt Nam National Branding Programme Announcement Ceremony held on Wednesday at the Hanoi Opera House.

VNPAY is one of 124 firms honoured with the title in 2020 with its VNPAY-QR payment solution won the Việt Nam National Brand 2020, surpassing many strict criteria and evaluation of the organisation board from more than 1,000 firms participating in the award.

A VNPAY's representative received the award from Deputy Prime Minister Trương Hòa Bình and Minister of Information and Communications Nguyễn Mạnh Hùng. — VNS Photo

The Việt Nam National Brand is organised by the Việt Nam Trade Promotion Agency under the Ministry of Industry and Trade twice a year. This is also the Government's only long-term programme to build and develop national brands through product trademarks to enhance the competitiveness of Vietnamese products in the international arena.

With the core values of 'Quality–Innovation-Leadership', the programme expects to accompany businesses in sharing and pursuing new innovation values to create Vietnamese high-quality products.

VNPAY is the only firm in the e-payment sector with its VNPAY-QR payment solution. The VNPAY-QR code is built to fully meet the standards of international card organisations as well as "QR Code facility standards" of the State Bank of Việt Nam. Moreover, VNPAY-QR also applies artificial intelligence (AI) technology to create smart consumption habits and help prevent risks and authenticate users.

Lê Tánh, VNPAY's general director received the award at the Việt Nam National Brands 2020. — VNS Photo

VNPAY-QR is a payment solution with many outstanding advantages for users. Users just need to log in to the Mobile Banking application of banks or e-wallets to easily scan payment codes for service bills quickly at VNPAY-QR payment acceptance points nationwide. With advantages of speed, convenience, safety, secure payments and many promotions, VNPAY-QR is the first choice of many users.

Currently, VNPAY is developing its VNPAY-QR payment system with more than 100,000 payment acceptance points nationwide in different fields such as retail, fashion, electronics, hospitals, schools and others. Users can make VNPAY-QR payments on more than 30 banking apps and eight e-wallets.

According to a representative from VNPAY, in 2020, the number of payment transactions on VNPAY-QR increased by more than 300 per cent compared to the same period last year. This is considered a good sign in the context of the economy being heavily affected by the COVID-19 pandemic.

A pioneer in the e-payment sector, VNPAY has been building technology infrastructure to connect and develop payment networks with hundreds of thousands of partners and ecosystems, providing platforms and utility services for e-commerce and cashless payments.

VNPAY-QR payment has been used widely. — VNS Photo

VNPAY will expand and promote payment development in many areas, especially payments for small business households that have not previously been able to access new forms of payment. The expansion of payment methods would create a pre-condition for the target of accelerating non-cash payments in Việt Nam. This is also one of the Government's aspirations in building e-government, promoting businesses to develop the digital economy and helping the Government run a digital society.

Lê Tánh, VNPAY's general director, said: "Participating in the Việt Nam National Brand 2020 programme is an opportunity for VNPAY to affirm its position as a leading fintech firm in Việt Nam. The award is an opportunity to increase brand awareness, affirm the brand name strength, reputation and quality of VNPAY's products and services. This would contribute to building the image of a strong National Brand, affirming Việt Nam’s e-payment platform in the international payment market."

Việt Nam National Brand 2020 is an opportunity for VNPAY to comprehensively evaluate activities of providing products, services and branding strategy. Thereby, it would affirm, promote and continue to pursue the vision “Simplifying the life”. In the future, VNPAY will continue to research to create products that bring tremendous value to customers.