Vietnam Post is licensed to provide payment intermediary services

Date submitted: 23/06/2021 17:54:30

In the context that the digital economy is trending, besides the development of the demand for payment services for civil and commercial transactions of people, non-cash payment through payment intermediaries plays a fairly large and important role, especially helping high-volume payment services take place quickly and accurately. By the end of March 2021, the number of organizations/businesses other than licensed banks providing payment intermediary services has reached more than 40 and continues to increase. This is not a small number, proving the transformation as well as integration of the trend of "digital consumption" of domestic enterprises is increasingly strong.

Unable to stand aside from that rotation, Vietnam Post Corporation – a unit with many years of experience serving businesses and the government in providing financial services to each citizen, has developed a plan to expand digital channels for financial services, in which payment intermediaries are the core to expand the service strip to digital channels. Based on the advantage of providing postal financial services and determination to develop a feasible scheme to deploy payment intermediary services to each citizen, the Corporation has applied for a license since May 2020 and has now been approved for licensing from the State Bank.
It can be said that Vietnam Post's license to intermediary payment will be a great milestone in the digital transformation, creating a pred before accelerating and developing digital services on a larger scale, in which digital financial services (Fintech) is an inevitable transformation. , expect to generate breakthrough revenue as well as enrich data for the Corporation in the digital transformation. In addition, vietnam post has the trust of state agencies such as the State Bank, the Ministry of Public Security, the Ministry of Information and Communications in deep participation in the financial sector in general, Fintech and Digital Transformation in particular is a very sharp advantage. , creating a roadmap for the Corporation to enhance and strengthen its position in the process of negotiating and cooperating with partners, opening up many new business opportunities, especially for digital services of the Corporation.

With registered and approved services approved by the State Bank such as E-wallet service, electronic payment gateway service, electronic money transfer support service and collection and payment support service, the Corporation believes that this will be a new step in supporting the promotion of existing products and services. , at the same time, creating opportunities to develop and bring Vietnam Post's digital products and services closer to customers, contributing to profit revenue growth, achieving the big expectations and goals set, and also strengthening trust and creating more motivation for the whole network for the Development Strategy. , The Digital Transformation Strategy that the Leaders of the Corporation has been developing.

Participating in this game, Vietnam Post is well aware of the challenges, difficulties as well as the fierce competition created by the market and competitors. This requires businesses to keep pace with the changing trends of technology, have a clear development strategy and grasp the change in consumer needs and behaviors ... there will be a greater chance of victory. With the thorough preparation and experience in providing postal financial services and strict management from the relevant departments, leaders and staffs believe that the "Payment Intermediary License" will be an ace. , helping the Corporation achieve greater achievements and efficiency than planned.