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MasterCard deploys QR code payment in Vietnam
Van Ly
Tuesday,  Dec 12, 2017,22:52 (GMT+7)

MasterCard deploys QR code payment in Vietnam

Van Ly

HANOI – Financial services firm MasterCard on December 11 introduced electronic payment service Masterpass QR in Vietnam, enabling MasterCard holders to pay by scanning QR codes at thousands of points of sale across Vietnam.

Users can make payments via QR codes at more than 7,000 points of sale set up by MPOS Vietnam Technology Joint Stock Company. MasterCard will later on cooperate with other companies to expand the network of places accepting Masterpass QR in Vietnam.

Masterpass QR, a new electronic payment option of MasterCard, has been deployed in over 20 countries. In Vietnam, users only need to register MPOS QR in order to make Masterpass QR payments via all banking applications with the QR scanning function.

QR payment, an option to promote non-cash payment, is suitable in countries with a large number of smart phone users and developed 3G/4G networks.

Nguyen Huu Tuat, general director of MPOS Vietnam, said QR payment holds high growth potential in Vietnam as all banks have offered Internet banking to their clients. The cooperation with international financial services company like MasterCard makes QR payment as easy as card swipe at mPOS/POS machines, he added.

From now until the year-end, clients making QR payment for the first time via MPOS will get refunds worth 10% of their bills each, with a maximum refund of no more than VND500,000.

Before MasterCard, MPOS has also cooperated with Visa to provide QR payment.

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