10:39:31 AM | 5/20/2026
Vietnam Prosperity Joint Stock Commercial Bank (VPBank) and Mastercard announced the launch of “Pay by Account”, the first Asia-Pacific contactless payment solution in a bank’s mobile wallet, enabling its customers to tap and pay directly from their current or savings bank accounts (CASA), without the need for a physical card.
With this innovation, VPBank customers can link their CASA accounts to multiple digital wallets, including VPBank’s NEO app, as well as other wallets like Apple Pay and Google Pay, to make payments at over 150 million Mastercard-accepting merchants worldwide. This new solution is designed to make everyday transactions faster, more secure, and convenient.
Notably, VPBank is the first bank to pioneer account-based contactless payments at the Metro system in Ho Chi Minh City, starting with Metro Line 1 (Ben Thanh – Suoi Tien) under the Ho Chi Minh City Urban Railway network. This milestone marks a significant step in bringing digital payment solutions to public transportation, helping to accelerate the adoption of cashless payments and deliver a safer, more convenient travel experience for commuters.
Seamlessly integrated into the VPBank NEO app, the Pay by Account solution allows consumers to initiate secure, contactless payments with just a tap or facial recognition.
The Pay by Account tokenized technology also gives users greater security and control by requiring authentication for transactions, whether in-store or online, through their app. Starting today, VPBank customers can register and activate the solution directly in the app.
"Pay by Account is not only a new step forward in improving the payment experience for customers but also demonstrates the bank's strategic vision in promoting digital transformation and developing modern payment methods," said Mr Phung Duy Khuong - Standing Deputy CEO and Head of Retail Banking Division - Vietnam Prosperity Joint Stock Commercial Bank - VPBank.
“Mastercard is proud to collaborate with VPBank to advance Vietnam’s digital payments landscape. The launch of Pay by Account integrated into VPBank’s digital app offers consumers an innovative payment solution, allowing them to tap and pay frictionlessly and securely using bank accounts across multiple digital wallets. With advanced security technologies at its core, this solution enhances the consumer payment experience and accelerates large-scale digital adoption, supporting Vietnam’s transition toward a truly cashless economy,” said Sharad Jain, Country Manager, Vietnam, Cambodia and Laos, Mastercard.
Customers using Mastercard’s Pay by Account solution can look forward to exclusive promotions and cashback offers by VPBank soon. For details on how to activate Pay by Account, visit: https://paybyaccount.vpbank.com.vn/ or call the VPBank hotline at 1900 545 415.
Source: Vietnam Business Forum
