Japanese payments company NTT Data Corporation has agreed to take on pioneer Vietnam fintech company VietUnion Online Services, which has an intermediary payment services licence issued by the State Bank of Vietnam.
VietUnion, a group company of Saigon Construction Corp (SCC), mainly provides payment services through big chain retailers such as convenience stores.
VietUnion has been expanding its payment business primarily through Payoo, which enables users to make payments to about 4000 stores, including supermarkets and in shopping centres.
Payoo also has a smartphone app that can be used for internet banking, and it provides software for mobile POS systems, smart cards for transport and tuition fee management for more than 1700 schools in Ho Chi Minh City.
With more than 30 years of experience in the payments business in Japan, NTT Data will help VietUnion expand its non-cash payment services and help develop Vietnam’s payment infrastructure.
NTT Data will introduce Payoo and other payment services to its customers in global eCommerce and financial institutions in APAC regions through collaborations with its other companies – iPay88 in Malaysia, NTT Data Hong Kong, and NTT Data Thailand.