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Friday,  Dec 15,2017,22:56 (GMT+7)

WeChat Pay e-wallet launched in Vietnam

Van Ly
Wednesday,  Nov 15,2017,21:18 (GMT+7)
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WeChat Pay e-wallet launched in Vietnam

Van Ly

HANOI – China’s Tenpay Payment Technology on Monday announced its cooperation with the e-wallet service provider VIMO to launch WeChat Pay e-wallet service in Vietnam to make it convenient for Chinese tourists to pay for goods and services here in the country.

VIMO is the first intermediate payment service provider in Vietnam to allow Chinese tourists to pay in Vietnam dong via WeChat Pay e-wallet.

However, WeChat Pay is not associated with banks connecting with VIMO to conduct transactions of Vietnamese consumers and enterprises.

Goods and service providers in Vietnam can install VIMO Merchant app on smartphones or tablets and register for an account via the website https://merchant.vimo.vn, and receive money within a maximum two working days upon a transaction.

Chinese tourists in Vietnam can pay local merchants by using WeChat Pay app on their smartphones to scan QR codes, instead of international payment cards or cash.

WeChat Pay and Alipay are dominating Chinese e-payment market with nearly one billion users and US$2 trillion worth of transactions last year, a twentyfold growth within four years.

The two services have been expanded to European and Southeast Asian countries to meet the demand of Chinese tourists in these countries.

Do Cong Dien, general director of VIMO.vn, said Vietnam attracts the most Chinese tourists compared to other countries in the region with 3.5 million arrivals and revenue of nearly US$3 billion this year.

VIMO.vn has accepted payments via WeChat Pay at 500 agents including 50 stores of seven corporations at five international airports.

Nguyen Quang Tuan, deputy general director of Song Viet Group - a provider of non-aviation services at airports in Vietnam - said sales have grown significantly since VIMO Merchant was piloted at stores at international airports. Therefore, the group will expand the service to all Song Viet stores nationwide.

Last week, the National Payment Corporation of Vietnam (Napas) and Chinese online payment platform Alipay under Alibaba Group signed a strategic agreement to launch Alipay payment service in Vietnam. The cooperation between Napas, banks and Alipay will offer Chinese tourists another choice of payment when they are in Vietnam.

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