Viet Union Online Services Corporation (Vietnam)

VietUnion is an intermediary payment service provider in Vietnam. It is a member of NTTDATA which is one of the largest payment infrastructures in Japan. With Payoo platform, VietUnion supplies Bill payment services (electricity, water, telephone, television, internet, finance, ...) with more than 15000 payment points; E-wallets; Payment gateway; Payoo Touch; mPOS, Smart POS, POS; 0% installment service via credit card...In Dec 2019, VietUnion first introduced Payoo One-stop Payment Acceptance solution, supporting businesses through only one connection can accept many forms of payment such as bank cards (international, domestic), e-wallets, QR Code, NFC...Payment intermediary is a conditional business, companies operating in this sector must ensure capital regulations, apply high-tech solutions, and ensure information safety and confidentiality. VietUnion received ISO 27001: 2005 certificate of Information Security Management System (ISMS) from TUV Rheinland Group in 2013 and achieved PCI-DSS international security certificate effective from 21 Dec 2017. As shared by Ms. Ha, all employees in Hanoi and Ho Chi Minh City are working from home under social distancing period.Along with the development of the e-commerce industry, the field of payment intermediaries in Vietnam now has "big players" such as Vingroup with VinID, Viettel with ViettelPay, FPT Telecom with foxpay, VNPT with VNPT Pay, VNPOST with VnpostPay, MobiFone with MobiFone Pay. With 4 licenses issued from the beginning of 2021 up to now, Vietnam now has 43 non-banking organizations providing intermediary payment services. Competition in the market is quite fierce, competitors launch promotions to increase brand recognition and gain market share. The rate of burning money in these companies is quite high, VietUnion is one of the few businesses operating in intermediary payment segment and reporting profits in recent years. Unlike some other rivals in the market that only focus on a certain branch and only serve its community, Payoo's biggest difference is building an open and multi-service electronic payment platform, aiming to create connection points for many related partners.Online payment has become a trend in recent years, especially in the context of the complicated Covid-19 pandemic, this form is preferred by consumers because it is safer than cash transactions. This makes the payment intermediary market more and more attractive.