MPOS mobile card payment leads the growth of payment channels in 2018

HÀ NỘI —  二0 一 八 was the year witnessing the outstanding development of the new payment method via mPOS device. There was  二 七, 五00 places accepting payment via mPOS, posting  九 九 per cent year-on-year increase, according to the Việt Nam Bank Card Association (VNBA).

The amount of MPOS payment points accounted for  九 per cent in the card acceptance network nationwide.

Data from the VNBA’s annual report in  二0 一 八 also showed that the traditional POS payment acceptance network decreased by  八 per cent compared to its amount in  二0 一 七. This shows that the banks and payment units no longer focus on developing traditional payment channels, but on new payment channels as mPOS, QR and e-Com.

Last year saw an explosion in the number of QR Code acceptance units, with nearly  五 八,000 payment points, which is an increase of  六00 per cent compared to its number in  二0 一 七.

However, total payment transactions via QR were only VNĐ 七0 billion. In details, each QR payment point took only VNĐ 一. 二 million, calculated to be less than VNĐ 一00,000 per month.

According to the expert’s reviews, this shows that customers were still not familiar with QR Code payment. They did not respond positively as expected.

The year  二0 一 八 also witnessed the development of e-co妹妹erce, making an important contribution to the growth of Online e-Com payment segment, amounting to nearly VNĐ 四 八 trillion (over US$ 二 billion).

The habit of using cards in payment was still popular, especially international credit cards. Although international cards accounted for only  一 三 per cent (nearly  一 一 million cards) in the total of types of cards, its payment revenue took  五 二 per cent of total card payment transactions.

 二0 一 八 was also the year of a strong development coming from mPOS payment method. There were seven banks deploying mPOS device to the market, including the big banks such as Vietinbank, Sacombank, BIDV, Vietcombank.

A representative of mPOS Việt Nam which provides mPOS solutions for the banks told Việt Nam News that mPOS expected to expand its number of devices used in the market to  八0,000 nationwide in  二0 一 九, in all business areas that could contribute to the society of non-cash payment.

The experts also say that when a series of payment companies mobilise dozens to hundreds of millions of dollars from the investors, this year will promise a further explosion of the electronic payment in Việt Nam, especially when the Government policy allows to link the payment accounts with the mobile numbers that helps to universalise the non-cash payments to all citizens. — VNS