VNPAY

Overview

Vietnam Payment Solution JSC, commonly known as VNPAY, is a leading fintech company based in Hanoi, Vietnam. Established in 2007, VNPAY has become a significant player in the electronic payment solutions sector, providing services to various banks, telecommunications companies, and e-commerce businesses. The company operates extensively within Vietnam's financial ecosystem, fostering innovative payment solutions such as QR code-based transactions. VNPAY reportedly became a unicorn in early 2020, backed by investments from major global partners such as SoftBank and GIC, with its valuation exceeding $1 billion.

Recent Developments

2025: VNPAY has been driving significant advancements in the fintech space in Vietnam. The company was honored at the 2025 Asia Banking & Finance FinTech Awards, winning the Blockchain Innovation Award and the Ecosystem Collaboration Award. These awards recognize the company’s efforts in implementing blockchain technology and broadening its digital ecosystem.
- In July 2025, VNPAY achieved the MPoC (Mobile Payments on Commercial Off-The-Shelf) security certification, making it the first firm in Vietnam to do so. This certification allows secure and flexible mobile payments using smartphones without the need for specialized POS hardware.
- In May 2025, VNPAY introduced its PhonePOS solution, enabling small merchants across Vietnam to accept international card payments using NFC-enabled smartphones, which significantly reduces infrastructure costs for rural and small businesses.
2024: VNPAY continued its strategy to enhance cashless payment systems. The company’s QR code payment platform saw a 300% growth in transactions. In collaboration with Visa, VNPAY is expanding its cashless payment solutions across more sectors.

Attribute	Information
Founding Date	2007
Headquarters	Hanoi, Vietnam
Founders	Le Tanh, Tran Tri Manh, Tran Van Ky
Revenue	Approx. $1.2 billion in 2022
Profits	Not Specified
Key Investors	SoftBank, GIC
Industry	Fintech, Electronic Payment Solutions
Number of Employees	Approx. 4,000

Early History

VNPAY was established in March 2007 by founders Le Tanh, Tran Tri Manh, and Tran Van Ky. Initially, the company focused on integrating electronic payment solutions within Vietnam's banking infrastructure. In 2009, VNPAY became one of the pioneer firms licensed by the State Bank of Vietnam to pilot e-wallet payment services. By 2015, it had expanded its services to include QR code payments, marking its position as an innovator in facilitating cashless transactions across the nation. This early groundwork laid the foundation for its current extensive reach in Vietnam's digital payment sector.

Company Profile and Achievements

VNPAY operates as a payment gateway and solution provider, primarily focusing on QR code technology to enable seamless transactions. It collaborates with over 40 banks and multiple telecom companies, integrating its systems to provide secure, efficient electronic payments.

Key Products and Innovations:
- VNPAY-QR: A flagship product that enables users to make direct payments through QR codes, which are widely integrated into various service points including shopping centers, restaurants, and e-commerce platforms.
- PhonePOS: An innovative solution that turns smartphones into POS systems, further bridging the gap for digital payments in rural areas.
Strategic Partnerships: Collaborations with international firms like Visa to enhance its service offerings and expand the adoption of cashless payment solutions.

Current Operations and Market Position

VNPAY has solidified its status as a leader in Vietnam’s digital transaction space. With a deep-rooted presence in major Vietnamese banks and an extensive ecosystem of electronic payment services, VNPAY plays a critical role in the nation’s push towards a cashless society. The company's strategic initiatives focus on expanding its international presence and continually enhancing security protocols, as evidenced by its recent security certifications. It also leads in providing digital solutions for small and medium-sized enterprises (SMEs), driving growth in untapped rural markets.

VNPAY Của Ai

VNPAY was co-founded by Le Tanh, Tran Tri Manh, and Tran Van Ky. Tran Tri Manh serves as the Chairman, with Le Tanh in a significant leadership role. The company has grown under their vision, evolving from a local fintech startup to a major player with substantial foreign investment backing.

Ví VNPAY Của Ngân Hàng Nào

VNPAY collaborates with a wide spectrum of banks, including major Vietnamese banks like Vietcombank, Agribank, BIDV, and Vietinbank. They incorporate VNPAY services into their mobile banking apps, providing customers with seamless, versatile payment options directly through their existing banking applications.

Conclusion

VNPAY stands out as a pioneering force in Vietnam's fintech landscape, leading its digital payment revolution. With extensive partnerships and significant technological innovations, VNPAY continues to push the boundaries toward a fully cashless society in Vietnam. Its strategic focus on security, usability, and expanding rural access positions it not only as a local leader but also as a prominent player in the broader Southeast Asian fintech industry. The company’s trajectory hints at continued growth and influence in transforming how transactions and banking converge in everyday life.