Vietnam Post licenced to provide intermediary payment services

June 05, 2021 - 08:18

The State Bank of Việt Nam has licensed Vietnam Post to conduct intermediary payment transactions through its PostPay platform.

Vietnam Post has made strong investment in infrastructure, technical and modern technology solutions to meet requirements of intermediary payment services as well as the digital era. — Photo vneconomy.vn

HÀ NỘI — The State Bank of Việt Nam has licensed Vietnam Post to conduct intermediary payment transactions through its PostPay platform.

The platform would provide financial and cash flow management solutions as well as non-cash payment.

The licence allows Vietnam Post to provide services such as e-wallet, e-payment portal, support money transfer, collection and payment. Users can use the cash transfer feature for cash delivery at the post offices where they live or to the recipient's home across 63 provinces and cities nationwide.

Chu Quang Hào, General Director of Vietnam Post said this has been a pre-condition to promote the strong development of their digital services, including fintech to open new opportunities for higher revenue.

Vietnam Post has strong investment in infrastructure, technical and modern technology solutions to meet requirements of intermediary payment services as well as the digital era.

The company has brought new convenience to customers, contributing to promote non-cash payment in the country, especially in the context of the COVID-19 pandemic. — VNS

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