National Payment Corporation Of Viet Nam (Vietnam)

Founded in 2004 under the initial name “VIET NAM NATIONAL FINANCIAL SWITCHING JOINT STOCK COMPANY”, the subject's name has changed to NATIONAL PAYMENT CORPORATION OF VIET NAM after the merge of SMARTLINK CARD SERVICES JOINT STOCK COMPANY. The company is the first and unique intermediary payment service provider being granted license by the State Bank of Vietnam (SBV) of providing switching and electronic clearing services in Vietnam. It is administering and operating a switching system interconnected more than 18,600 ATMs; 261,000 POS machines and 300 electric payment companies in the fields of aviation, telecommunication, hotel industry and tourism, and serving over 100 million cardholders of 48 domestic and international commercial banks operating in Vietnam.Decision 149 / QD-TTg on the National Comprehensive Financial Strategy to 2025 with orientation towards 2030 was approved by the Prime Minister on January 22, 2020. Specifically, enterprises will be allowed to participate in the market of financial switching and clearing electronic. The biggest telecom providers in Vietnam - Viettel and VNPT proposed that the Prime Minister – Mr. Nguyen Xuan Phuc instructs the SBV to allow them to participate in e-payment mechanism. If Viettel and VNPT are granted a license, NAPAS will have big rivals as the two telecom firms have nearly 100 million mobile subscribes nationwide.