HÀ NỘI — There is a high demand for digitalisation of the operation and financial management processes at small and medium-sized enterprises (SMEs) in Việt Nam. VNPAY aims to address such demand by offering a comprehensive payment and management solution - VNPAY-POS.

A solution for business payment process

According to the latest statistics of Việt Nam Academy of Social Sciences, SMEs account for more than 96 per cent of all domestic enterprises, contribute around 40 per cent of the country’s GDP and employ nearly 60 per cent of total labour force. It can be seen that SMEs are the backbone of the Vietnamese economy, playing a vital role in the country's economic development.

However, in the development process, most of these enterprises encounter many challenges due to the scarcity of vital elements such as capital, skilled human resources, hands-on experience and technology. Realising these challenges, VNPAY, one of the leading companies in the field of electronic payments in Việt Nam, has launched the VNPAY-POS payment solution to help minimise operating cost and optimise the business management process. This solution helps SMEs do digital transformation easier.

A multi-function payment and sale management solution on a SmartPOS device. — Photo courtesy of the firm

VNPAY-POS accepts many types of cashless payment including bank-card payment (magnetic cards, chip cards, and contactless cards), VNPAY-QR payment which is accepted by using more than 30 popular mobile banking apps or e-wallets. Therefore, consumers can make payment securer, quicker, and more conveniently.

In addition to those main features, VNPAY-POS, which is based on SmartPOS devices, also helps enterprises offer attractive payment schemes to their customers by supporting instalment payment with zero per cent interest. In order to meet the high-security requirements in the financial industry, SmartPOS devices use Secure Android firmware. Besides, it could be connected with Bluetooth, Wifi, 4G, NFC, GPS and a camera to scan common types of barcodes. These features help the sales and payment process to be encapsulated in just one device, saving investment and operating costs for enterprises.

The modern and convenient VNPAY-QR payment method is integrated on SmartPOS device. — Photo courtesy of the firm

Opportunity for SMEs

Sharing about the VNPAY-POS, a VNPAY representative said: “Our solution is considered a breakthrough, turning a traditional POS terminal into a smart payment and management device. It is suitable for many business segments, optimising all operation activities and increasing revenue.”

Currently, VNPAY-POS has been deployed by many big corporations such as Mai Linh, Vietnam Airlines, Sun World, Phong Vũ and many other nationwide chains including organic store chain Sói Biển, Nón Sơn stores and imported food shop chain HomeFarm.

VNPAY SmartPOS has been applied in different sectors. — Photo courtesy of the firm

By using VNPAY-POS, Phong Vũ electronic retailer staff say they can sell goods to customers, manage orders, collect payment, manage inventory as well as revenue more effectively.

At Sói Biển, this solution helps an employee to place orders, support cashless payment, and manage the data system in a thorough manner, using only one SmartPOS device.

VNPAY-POS aims to bring outstanding features, quickly and flexibly addressing the problem of sales and cost management in the payment process of SMEs.