Visa and VNPAY representatives announce a strategic partnership (Photo: VOV)

The two companies will make cashless payment more accessible in Vietnam through expanding and strengthening the fintech company's affiliate network of accepting merchants, as well as rolling out new services including Visa’s Tap to Phone acceptance solution, virtual Visa prepaid cards, fund transfers powered by Visa Direct service, and the Visa Instalment Solution (VIS).

“According to Visa’s Consumer Payment Attitudes study 2021, 80% of consumers in Vietnam are interested in using mobile contactless payments like tap to phone,” said Dang Tuyet Dung, Country Manager of Visa Vietnam and Laos at a ceremony on Wednesday to announce the strategic partnership.