What VNPAY does

VNPAY (Công ty Cổ phần Giải pháp Thanh toán Việt Nam) is a Vietnam-based fintech founded in 2007 that operates the country's largest domestic payment acceptance infrastructure. The company provides QR code payments (VNPAY-QR) integrated across 30+ banking apps and 15 e-wallets, traditional and smart POS terminals (VNPAY-POS, VNPAY SmartPOS), a smartphone-based POS solution (VNPAY PhonePOS, the first PCI MPoC certified solution in Vietnam), a payment gateway, and B2B website payment processing (VNPAYB2B). Its network spans 450,000+ acceptance points, 350,000+ business clients, 40+ partner banks, and 60+ million end consumers, with cross-border QR payment reach extended through partnerships with NAPAS (VIETQRGlobal) and India UPI.

Beyond core payment rails, VNPAY sells business and regulatory compliance software including electronic invoicing (VNPAY-Invoice), tax data transmission (VNPAY-TVAN), digital signature certification (VNPAY-CA, with HSM centralized and remote signing variants), electronic contracts (VNeDOC), and sales management software. On the consumer side, the VNPAY super-app integrates taxi booking (200+ brands, embedded in major banking apps), movie ticket purchases (nearly 200 cinemas), e-commerce (VnShop), and lifestyle services. The company is headquartered in Hanoi with offices in Ho Chi Minh City and Da Nang, employs 501-1,000 staff, and holds Vietnam's National Brand designation. The 2019 investment from sovereign wealth fund GIC signals institutional validation of the company's strategic position.

VNPAY's revenue is generated through three primary streams: transaction-based processing fees on QR, card, and POS payments (with installment processing fees ranging from 1.8% to 8.9% by bank and tenure); subscription/recurring fees for digital tax, e-invoice, and digital signature services; and ancillary fees from its super-app ecosystem. GTM is B2B2C: the company onboards banks and large merchants as enterprise customers, then reaches end consumers through their banking apps and the VNPAY super-app.

Name

VNPAY

Legal name

Công ty Cổ phần Giải pháp Thanh toán Việt Nam

Website

https://vnpay.vn

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

501–1,000 employees

Short description

VNPAY is a Vietnam-based fintech operating the country's largest payment acceptance network, providing QR payments, POS, PhonePOS, payment gateway, and e-invoice solutions across 40+ banks, 450,000+ acceptance points, and 60+ million consumers.

Ownership category

akta.pro rank

Product category

Digital Payment Processing

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Finance Services (6199)

akta.pro primary industry

QR Code & Alternative In-Store Acceptance (QR, APMs) (FSAMADAH)

akta.pro secondary industries

Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA), POS, SoftPOS & In-Person Acceptance Infrastructure (FSAGABAO), Alternative Payment Methods (APMs) Enablement (BNPL, wallets, local methods) (FSAMACAE), QR Code Payments Wallets (FSAMAEAC)

Keywords

• Mobile payment solutions
• QR code payments
• Payment processing
• Electronic invoicing
• Digital tax services

Headquarters

HQ city

Hanoi

HQ country

Vietnam

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Payment Processing Fees: VNPAY charges merchants transaction fees for processing QR code, card, and POS payments. Fees vary by payment method and merchant category, with percentage-based fees on transaction value.
2. Digital Tax Payment Services: Revenue from VNPAY-Invoice (electronic invoice), VNPAY-TVAN (tax data transmission), VNPAY-CA (digital signature certification), and VNeDOC (electronic contract) services for businesses.
3. Installment Processing Services: VNPAY earns processing fees from facilitating credit card installment payments, with fee rates varying by bank issuer and tenure (1.8%-8.9% depending on bank and installment period).

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

VNPAY operates a comprehensive fintech payment ecosystem in Vietnam, providing QR code payment solutions (VNPAY-QR) integrated across 30+ banking apps and 15+ e-wallets, POS terminals (VNPAY-POS, SmartPOS), smartphone-based card acceptance (VNPAY PhonePOS — first PCI MPoC certified in Vietnam), a payment gateway for online merchants, electronic invoicing and digital tax filing services, and a consumer super-app offering taxi booking, movie tickets, and e-commerce. The platform serves 350,000+ businesses, 450,000+ acceptance points, 40+ partner banks, and 60+ million end users.

Product overview

VNPAY operates as a comprehensive fintech payment ecosystem in Vietnam, consisting of a core mobile super-app and multiple integrated payment modules and business solutions. The main VNPAY App serves as a super-app offering taxi booking (VNPAY Taxi), movie ticket purchasing (VNPAY Movie Tickets), and e-commerce (VnShop), while distinct product lines address business payment needs: Cổng thanh toán VNPAY (Payment Gateway) for online card/QR payments, VNPAY-POS and VNPAY SmartPOS for physical POS terminals, VNPAY PhonePOS for smartphone-based card acceptance, VNPAY-QR for QR code payments across 30+ bank apps and 15+ e-wallets, and VNPAYB2B for B2B website payments. Supporting infrastructure includes VNPAY-Invoice (electronic invoices), VNPAY-TVAN (tax digital services), VNPAY-CA and its variants VNPAY-CA HSM tập trung and VNPAY-CA Remote Signing (digital signatures), VNeDOC (electronic contracts), and Phần mềm bán hàng (sales management software). The company partners with over 350,000 businesses, maintains 450,000+ acceptance points, and serves 60+ million users through 40+ connected banks.

Differentiator

Problem solved

Functional benefit

Brands

• VNPAY-QR: QR code payment solution integrated across 30+ banking apps and 15 e-wallets in Vietnam.
• VNPAY SmartPOS
• VNPAY PhonePOS
• VNPAY Invoice
• VNPAYB2B
• VNPAY Taxi
• VnShop
• VIETQRGlobal

Products and services

• VNPAY-QR QR code-based electronic payment solution integrated across more than 30 bank applications and 15 e-wallets, enabling customers to pay by scanning QR codes at merchant acceptance points.
• VNPAY Payment Gateway (Cổng thanh toán VNPAY) Payment gateway connecting businesses with banks, supporting payment through cards, QR codes, and installment plans via app-to-app calling.
• VNPAY-POS Integrated POS payment solution supporting multiple payment methods including card payments and QR codes with additional features for merchants.
• VNPAY PhonePOS First PCI MPoC certified technology solution in Vietnam that transforms a regular mobile phone into a POS payment terminal, enabling merchants to accept card payments using only a smartphone.
• VNPAYB2B Modern and professional payment solution for businesses on website platforms, enabling online B2B transaction processing.
• VNPAY-Invoice Comprehensive electronic invoice solution that optimizes benefits for businesses and consumers, compliant with Vietnamese tax authority requirements.
• VNPAY-TVAN Digital service supporting electronic data transaction processing in the tax sector, connecting with the Tax Authority's information portal to receive, transmit, and store electronic invoices of taxpayers.
• VNPAY-CA Public digital signature certification service provided by VNPAY, including VNPAY-CA HSM centralized and VNPAY-CA Remote Signing where private keys are stored in VNPAY's secure centralized system.
• VNeDOC Electronic contract software solution developed and provided by VNPAY for businesses to use and manage within the scope specified in the service agreement.
• VNPAY Sales Management Software (Phần mềm bán hàng) Inventory, order, customer, and revenue management software with payment transaction processing, supporting electronic invoice issuance and direct data transmission to the Tax Authority.
• VNPAY SmartPOS Smart POS device with intelligent management and business operation software, integrating the most modern payment methods suitable for all business sectors.
• VIETQRGlobal Cross-border QR payment brand enabling international visitors to scan VNPAY codes and Vietnamese users to scan overseas QR codes at NAPAS partner merchant networks.

Quantifiable outcome

• 60+ million users served through payment network
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Feature4 records

Partnerships

Eight partnerships are on record, tiered strategic, core and flagship.

• India UPI (Unified Payments Interface)strategicTechnology or Integration · 6 May 2026India-Vietnam digital payment integration linking India's UPI with Vietnam's fast payment network. Indian travelers in Vietnam can make real-time payments through UPI apps, eliminating need for currency exchange and reducing transaction costs.
• NAPAS (National Payment Corporation of Vietnam)coreStrategic or Co-development Partner · 12 February 2026Partnership to expand Vietnam's digital payment ecosystem through cross-border QR code payments. International visitors can scan VIETQRGlobal codes at VNPAY merchant outlets, while Vietnamese users can scan overseas QR codes through the VNPAY app.
• NAPAS (National Payment Corporation of Vietnam)coreStrategic or Co-development Partner · 11 February 2026VNPAY and NAPAS signed comprehensive cooperation agreement on February 11, 2026 to jointly develop new payment technologies and implement cross-border QR payments under the VIETQRGlobal brand. Initial phase enables tourists from Thailand, Laos, and Cambodia to use domestic payment apps at VNPAY acceptance points in Vietnam, with plans for further expansion.
• VisaflagshipTechnology or Integration · 12 November 2025Visa launched Scan to Pay QR payment solution across Asia-Pacific, integrating with VNPAY as one of the key digital wallet partners. VNPAY participates in Visa's QR payment network enabling seamless cross-network transactions.
• VCB Digibank (Vietcombank)coreTechnology or IntegrationVNPAY Taxi service integrated into VCB Digibank mobile banking app, allowing Vietcombank customers to book taxis directly through their banking application.
• BIDV SmartBankingcoreTechnology or IntegrationVNPAY Taxi service integrated into BIDV SmartBanking app, enabling BIDV customers to access taxi booking functionality.
• VietinBank iPay MobilecoreTechnology or IntegrationVNPAY Taxi service integrated into VietinBank iPay Mobile app for VietinBank customers.
• Agribank PluscoreTechnology or IntegrationVNPAY Taxi service integrated into Agribank Plus mobile banking application.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• MoMo: Vietnam's largest e-wallet with comparable QR payment acceptance and super-app functionality. Directly competes with VNPAY in mobile payments and merchant acquiring.
• ZaloPay: Vietnamese e-wallet and payment service backed by VNG and Ant Group. Competes head-to-head with VNPAY on QR payments, bill pay, and merchant services.
• ShopeePay Vietnam: Digital wallet embedded in Shopee e-commerce ecosystem with QR payment acceptance. Overlaps with VNPAY on consumer QR and merchant acquiring.
• Payoo: Vietnamese payment gateway and bill payment service from FPT. Competes with VNPAY's payment gateway and bill payment offerings for merchants.
• Moca (Grab Vietnam): Grab-owned mobile payment wallet integrated into Grab's super-app in Vietnam. Competes with VNPAY on consumer payments and merchant acquiring, especially in ride-hailing and delivery.
• 2C2P (Ant Group): Southeast Asian payment gateway and orchestration platform acquired by Ant Group. Direct competitor to VNPAY's payment gateway and merchant services across the region.

Others

• NAPAS: Vietnam's national payment switch and VNPAY's strategic partner. Operates the underlying interbank switching infrastructure that VNPAY's QR rails traverse; not a direct competitor but a critical ecosystem participant.

Emerging players

• Paytm: India's leading mobile payment and QR network. Recently announced UPI-Vietnam integration with VNPAY, making it a direct cross-border counterpart and emerging comparable in emerging-market payment rails.

Regional players

• GCash: Philippines' leading e-wallet with QR payment network. Comparable emerging-market fintech with super-app ambitions; operates in a different geography but mirrors VNPAY's model.

Broad incumbents

• Alipay+: Ant Group's cross-border QR payment network covering Asian payment apps. Broader incumbent with overlapping cross-border QR ambitions that may compete with VNPAY's VIETQRGlobal.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/CongtyVNPAY
• Facebookfacebook.com/vnpay.vn
• LinkedInlinkedin.com/company/vnpay

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about VNPAY