IDEMIA, NAPAS Collaborate to Boost Digital Payments in Vietnam

The National Payment Corporation of Vietnam (NAPAS) and IDEMIA Secure Transactions have partnered to improve Vietnam's digital payment system.

Through the partnership, NAPAS's network, which links more than 40 banks, will integrate IDEMIA's Token Platform. The young people of Vietnam, the bulk of whom are under 35 and regularly use numerous smartphones, should be the focus of this partnership.

By replacing "sensitive" card information with a secure token for transaction processing, the platform aims to help related issuers transition to digital payment solutions. The platform supports a number of payment scenarios, such as remote peer-to-peer transactions, in-app purchases, and mobile NFC payments.

Through API integration, it is possible to communicate with many participants in the digital payment ecosystem, including participating issuers, worldwide xPay wallets, and token requestors.

NAPAS will use Apple Pay for iOS devices and mobile wallet apps for Android smartphones to provide smartphone-based in-store payments. Additionally, the agreement will allow Vietnamese customers to use in-app payments for e-commerce transactions.

"This week marks another great achievement in our partnership with IDEMIA Secure Transactions, which began by enabling seamless tap-to-pay experiences through bank applications powered by HCE wallet solutions," Nguyen Thanh Tung, head of NAPAS' payment technology department, said.