Four Local Banks Join VietUnion in Payoo E-Wallet Services
The VietUnion Online Service Joint Stock Company has signed an agreement with four local banks on the use of VietUnion’s e-wallet service Payoo.
These banks are the Vietnam Bank for Agriculture and Rural Development (Agribank), Vietnam bank for Industry and Trade (VietinBank), Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank), and Nam Viet Commercial Bank (Navibank).
A significant rise in the number of mobile and internet subscribers has created a favorable condition to develop electronic commerce, especially in the context of global recession, said Nguyen Hoang Ly, general director of the VietUnion company.
The Payoo service, which has been running on a pilot basis by the State Bank of Vietnam, will allow consumers to shop online without submitting credit card details or personal bank information.
With Payoo, companies are able to reject any fake orders, as customers have to transfer the money first, and banks can save money and labor.
Payoo also plans to introduce the new payment models, G2C, and other services like e-Bill and e-Shop.
VietUnion expected that with the four banks’ wide distribution network, customers will receive the most favorable e-commerce conditions. (Vietnam Economic Times)
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