SmartPay

What SmartPay does

SmartPay is a Vietnamese payment technology company operated by SmartNet (Công ty Cổ phần Thương Mại Dịch Vụ Mạng Lưới Thông Minh), founded in 2015 and headquartered in Ho Chi Minh City. The company delivers an integrated merchant payments ecosystem built around SmartPOS hardware (Mini and Pro models), the SHOP SmartPay merchant management app, QR SmartPay (static, dynamic, delivery, and gateway QR), the Ví SmartPay e-wallet (licensed by the State Bank of Vietnam with a 100M VND per-account ceiling), a payment gateway API, and a BOXX audio notification device. Adjacent modules include the Medcomm x SmartPay healthcare payment integration, CIMB-powered Buy Now Pay Later (up to 30M VND), Bao Kim 0%-interest installment conversion across 24+ issuing banks, and cross-border acceptance of Alipay, WeChat Pay, Naver Pay, Toss, Hana Money, and GLN App via VietQR Global through NAPAS. PCI DSS Level 1 certification covers card data handling across the platform.

The business model combines one-time hardware sales (SmartPOS Mini at 800,000 VND; Pro at 2,900,000 VND), recurring device rental (~230,000–250,000 VND/month), transaction fees on payment processing, installment processing fees ranging 1.52%–8.02% depending on bank and tenure, and revenue share / referral fees on e-wallet services and BNPL originations. Go-to-market is product-led and field-sales-assisted: merchants self-register through app stores or via bank referrals (NCB, VPBank/SmartSME, CIMB), with field sales teams installing devices within 3 days in HCMC and 7–10 days elsewhere. Primary customers are small Vietnamese merchants and individual business owners in retail, F&B, electronics, pharmacies, tourism/hospitality, and healthcare, plus individual consumers using Ví SmartPay. The platform reports 700,000+ payment acceptance points, 30,000 active SmartPOS devices, 1.2M+ e-wallets, 40M+ users reached through partner bank networks, and coverage across 61 provinces.

Strategic posture in 2026 is shifting from single-product payment acceptance toward a multi-rail SME finance platform: the May 2026 NCB partnership expands cross-border QR rails; the BizLoan partnership layers lending on top of payments; the CIMB BNPL product extends into consumer credit distribution; and Gold Sponsorship of NEXT-GEN | AI LIVE COMMERCE 2026 positions the brand in live-commerce and AI-driven retail channels. The company remains privately held with no disclosed external funding rounds and no parent-subsidiary structure on record.

Name

SmartPay

Legal name

Công ty Cổ phần Thương Mại Dịch Vụ Mạng Lưới Thông Minh

Website

https://smartpayvn.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

101–250 employees

Short description

SmartPay is a Vietnamese payment technology company that delivers an integrated POS, QR, e-wallet, BNPL, and cross-border payment stack to 700,000+ small merchants and 1.2M+ wallet users across 61 provinces, operated by SmartNet and licensed by the State Bank of Vietnam.

Ownership category

akta.pro rank

Product category

Payment Processing Services

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Finance Services (6199)

akta.pro primary industry

QR Code Payments Wallets (FSAMAEAC)

akta.pro secondary industries

mPOS & SoftPOS (Tap-to-Phone) Solutions (FSAMADAB), POS, SoftPOS & In-Person Acceptance Infrastructure (FSAGABAO), BNPL Consumer Apps & Wallets (Discovery, Management) (FSAGAIAG), Stored Value Ledger / Wallet Infrastructure (Non-Bank) (FSAMANAM)

Keywords

• Electronic payment processing
• POS terminal services
• Mobile e-wallet
• Merchant payment gateway
• QR code payments

Headquarters

HQ city

Ho Chi Minh City

HQ country

Vietnam

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. POS Device Sales: SmartPay sells SmartPOS hardware devices (SmartPOS Mini at 800,000 VND, SmartPOS Pro at 2,900,000 VND) to merchants. This is a one-time hardware revenue stream.
2. POS Device Rental: Monthly rental fee for SmartPOS devices (250,000 VND/month according to main site, 230,000 VND/month according to support docs). This provides recurring subscription revenue from active merchants.
3. Payment Transaction Fees: SmartPay earns transaction fees from payment processing through its POS terminals and QR payment systems. Fees vary by payment method and merchant category. The platform supports installment conversions with bank-specific fee schedules (ranging from 1.5% to 8% depending on bank and tenure).
4. Installment Processing Fees: SmartPOS converts card transactions to installments with processing fees charged to merchant partners. Fee tables show rates from 1.52% to 8.02% depending on the issuing bank and installment tenure (3-12 months).
5. E-wallet Services: Electronic wallet services including fund transfers, bill payments, mobile top-up, and other financial services generate revenue through transaction fees and service charges.
6. Buy Now Pay Later (CIMB): SmartPay partners with CIMB to offer buy-now-pay-later services with loans up to 30,000,000 VND, earning referral or processing fees on approved transactions.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels9 records

Core offering

SmartPay operates an integrated cashless payment ecosystem in Vietnam centered on SmartPOS hardware (Mini and Pro models), QR SmartPay code acceptance, and the Ví SmartPay e-wallet licensed by the State Bank of Vietnam. The platform enables small merchants, SMEs, healthcare facilities, and individual consumers to transact via cards, domestic QR (VietQR/NAPAS), international wallets (Alipay, WeChat Pay, Naver Pay, Toss, Hana Money, GLN), and 0% interest installment conversion through 24+ partner banks. Complementary offerings include the SHOP SmartPay merchant management app, a payment gateway API, BOXX SmartPay audio confirmation device, and CIMB-powered BNPL.

Product overview

SmartPay is a comprehensive payment and merchant services ecosystem operated by SmartNet (Công ty Cổ phần Thương mại Dịch vụ Mạng Lưới Thông Minh) in Vietnam. The platform provides an integrated portfolio of payment solutions centered on SmartPOS devices (Mini and Pro models), the SHOP SmartPay merchant app, QR SmartPay, payment gateway API, and the Ví SmartPay e-wallet. Key add-on modules include BOXX SmartPay (transaction notifications), Medcomm integration (healthcare payments), CIMB BNPL, Bao Kim installments, international payment acceptance (Visa/Mastercard/JCB/UnionPay/Alipay/WeChat Pay/Naver Pay/Toss), SmartSME financial services, and electronic invoicing. The platform serves 700,000+ merchants and operates 30,000 SmartPOS devices across 61 provinces in Vietnam, licensed by the State Bank of Vietnam.

Differentiator

Problem solved

Functional benefit

Brands

• SmartPOS: Multi-function payment acceptance device supporting card, QR code, and e-wallet payments for merchants.
• QR SmartPay
• SHOP SmartPay
• BOXX SmartPay
• Medcomm x SmartPay

Products and services

• SmartPOS (Mini and Pro) Multi-function point-of-sale terminal available in Mini (3G/4G/WiFi) and Pro models, accepting card payments (Visa, Mastercard, JCB, UnionPay), QR codes (VietQR, international wallets), e-wallets, and supporting 0% interest installment conversion across 24+ partner banks. Targeted at Vietnamese retail, F&B, tourism, electronics, and pharmacy merchants.
• SHOP SmartPay Free mobile business management application for SmartPay merchants, enabling sales tracking, revenue analytics, promotional campaign creation, product catalog management, electronic invoice export, and staff management.
• Cổng thanh toán SmartPay (Payment Gateway) API-based payment gateway enabling websites and mobile platforms to accept multiple payment methods including domestic cards, QR codes, and e-wallets. Targets businesses needing online payment integration.
• QR SmartPay QR code payment solution supporting static QR (fixed store code), dynamic QR (per-transaction), delivery QR, and online QR for e-commerce transactions, integrated with VietQR domestic and VietQR Global cross-border rails.
• Ví SmartPay (SmartPay E-Wallet) State Bank of Vietnam-licensed digital wallet for individual Vietnamese consumers supporting deposits, fund transfers, bill payments, mobile top-up, savings accounts, and bank account linking, with maximum account balance of 100,000,000 VND.
• Medcomm x SmartPay Standardized electronic payment solution for healthcare facilities and pharmacies, enabling transparent, cashless payments compliant with Ministry of Health and Ministry of Finance regulations, with convenient revenue reconciliation.
• International Payments (Thanh toán quốc tế) Cross-border payment acceptance service enabling merchants on SmartPOS to accept international payment methods including Visa, Mastercard, JCB, UnionPay, Alipay, WeChat Pay, Naver Pay, Toss, and Hana Money via VietQR Global.
• CIMB Buy Now Pay Later (Mua trước trả sau) Buy Now Pay Later service in partnership with CIMB Bank offering consumer loans up to 30,000,000 VND with flexible repayment tenures of 1, 3, 6, 9, or 12 months, accessed through the SmartPay app.
• Bảo Kim Installment Conversion Service Credit card installment conversion service via Bảo Kim enabling 3-6-9-12 month tenures on transactions of minimum 3,000,000 VND, processed through 24+ partner banks including ACB, BIDV, Vietcombank, Techcombank, and VPBank.

Quantifiable outcome

• SmartPay supports over 700,000 merchant acceptance points across Vietnam
• +4 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration13 records

Feature8 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• NCB (Ngân hàng TMCP Quốc Dân)coreStrategic or Co-development Partner · 18 May 2026SmartPay and NCB established a strategic partnership to expand cross-border payment capabilities and strengthen payment infrastructure for merchants in Vietnam. The partnership enables SmartPOS acceptance of international QR payments (VietQR Global) and integrates NCB's banking infrastructure with SmartPay's merchant network of 700,000+ acceptance points. NCB provides the financial infrastructure, risk management, and compliance framework while SmartPay provides point-of-sale deployment and merchant access.
• BizLoancoreStrategic or Co-development Partner · 14 May 2026SmartPay and BizLoan entered a strategic partnership to promote digital financial solutions ecosystem for SME businesses and small merchants. The collaboration aims to provide integrated financial services including lending and payment solutions to help SMEs and business households accelerate digital transformation.
• MedcommcoreStrategic or Co-development PartnerSmartPay partnered with Medcomm to provide standardized electronic payment solutions for healthcare facilities. The solution meets Ministry of Health and Ministry of Finance regulations, enabling transparent, cashless payments at medical facilities with convenient revenue reconciliation.
• CIMB BankcoreTechnology or IntegrationSmartPay partnered with CIMB to offer Buy Now Pay Later (BNPL) services through the SmartPay app. Customers can access loans up to 30,000,000 VND with flexible repayment terms of 1, 3, 6, 9, or 12 months. CIMB provides the lending infrastructure while SmartPay provides the customer interface and merchant acceptance network.
• VPBank (SmartSME)coreTechnology or IntegrationSmartPay integrated SmartSME by VPBank financial solutions into its ecosystem, offering SME businesses and merchants access to comprehensive financial services including credit facilities and banking services.
• VNBA (Vietnam Goods Association)minorOthersSmartPay is a member of the Vietnam Goods Association (VNBA) per Decision No. 40/QĐ-HĐHH dated 24/10/2019, providing industry recognition and networking opportunities.
• NAPAScoreTechnology or IntegrationSmartPay connects through NAPAS (National Payment Services Corporation) domestic payment network for processing QR payments and card transactions, including cross-border payments processed via NAPAS infrastructure.
• International Payment Networks (Visa, Mastercard, JCB, UnionPay)coreTechnology or IntegrationSmartPOS devices support acceptance of international card networks including Visa, Mastercard, JCB, and UnionPay for domestic and international card payments.
• International E-wallets (Alipay, WeChat Pay, Naver Pay, Toss, Hana Money, GLN)coreTechnology or IntegrationSmartPOS accepts international e-wallets and payment apps from China (Alipay, WeChat Pay), Korea (Naver Pay, Toss, Hana Money), and other markets through VietQR Global integration, enabling merchants to serve international tourists.
• 24+ Partner Banks for InstallmentscoreTechnology or IntegrationSmartPay supports installment conversions through 24+ partner banks including ACB, BIDV, Vietcombank, Vietinbank, Techcombank, VPBank, and others, enabling merchants to offer 0% interest installment payments to customers.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• MoMo: Vietnam's largest e-wallet with 30M+ users, offering QR payments, bill payments, money transfers, BNPL, and merchant POS services. Directly competes with SmartPay on consumer e-wallets, merchant QR acceptance, and SME payment solutions in the same Vietnamese market.
• ZaloPay: E-wallet operated by VNG Corporation, integrated into Zalo (Vietnam's dominant messaging app with 100M+ users). Competes directly with SmartPay's Ví SmartPay on consumer payments, QR acceptance, and merchant services, with structurally lower customer acquisition cost.
• VNPay: Vietnam's dominant QR payment gateway and payment aggregator, processing the majority of domestic bank QR transactions. Competes directly with SmartPay's QR SmartPay and payment gateway products across merchants in Vietnam.
• Payoo: Vietnamese payment intermediary providing bill payment, e-wallet, and merchant POS services under MB Ageas Life and military-backed consortium ownership. Directly comparable as a multi-product payment platform targeting Vietnamese consumers and SMEs.

Broad incumbents

• Viettel Money (ViettelPay): E-wallet and payment app from Viettel, Vietnam's largest state-owned telecoms group, with tens of millions of telecom-bundled users. Competes broadly in the same Vietnamese payment space and is backed by massive distribution scale.

Regional players

• GrabPay (Moca): Payment wallet integrated into the Grab super-app in Vietnam, focusing on ride-hailing and food delivery transactions. Comparable as a regional e-wallet + merchant payment platform, though primarily distributed through Grab's transport vertical.
• ShopeePay (AirPay): Sea Group's e-wallet embedded in Shopee's e-commerce platform in Vietnam. Comparable as a Southeast Asian regional e-wallet competing for consumer payment share, though distribution is anchored to Shopee's marketplace rather than merchant POS.
• 2C2P: Pan-Asian payment processing platform headquartered in Singapore, offering merchant acquiring, payment gateway, and POS solutions across Southeast Asia. Comparable as a regional payment infrastructure provider with similar merchant-acquiring product surface area.

Emerging players

• NextPay: Vietnamese fintech providing payment and POS solutions targeting SMEs and small merchants, with product overlap on payment acceptance and merchant services. Comparable as a smaller emerging competitor in the same SME segment.

Others

• Kaspi.kz: Emerging-market super-app combining payments, marketplace, and BNPL for merchants and consumers. Comparable as a benchmark for integrated merchant + consumer payment ecosystems in a developing market, though not a direct Vietnam competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@smartpaymerchantsolutions
• Facebookfacebook.com/SmartPayVN
• TikToktiktok.com/@smartpayvn
• Xx.com/smartpayvn

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

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 SmartPay