Napas

Name

Napas

Legal name

Công ty Cổ phần Thanh toán Quốc gia Việt Nam - NAPAS

Website

https://napas.com.vn

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

51–100 employees

Ownership category

akta.pro rank

Product category

Payment Infrastructure and Switching Services

NAICS

Administrative and Support Services (561)

SIC

Finance Services (6199)

akta.pro primary industry

Cross-Border A2A & Bank Transfer Networks (FSAMAIAF)

akta.pro secondary industries

Bank-to-Bank Transfers & Pay-by-Bank (Consumer & Merchant) (FSAMAFAC), ATM Switching, Routing & Network Services (FSAMAOAD), Alternative Payments & Digital Wallet Acceptance (A2A, RTP, wallets) (THALAHAH), SME & Business Cross-Border Payments (B2B) (FSAMAIAB)

Keywords

• Payment switching services
• Interbank payment infrastructure
• QR payment processing
• Domestic card scheme
• Cross-border payments

Headquarters

HQ city

Hanoi

HQ country

Vietnam

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Payment Switching Services: NAPAS operates as the national payment switch, processing transactions between member banks and financial institutions through its ATM/POS network infrastructure.
2. QR Payment Services: Revenue generated from VietQR and VietQRGlobal QR payment services, including cross-border QR transactions between Vietnam and partner countries.
3. Instant Transfer Services (NAPAS 247): 24/7 real-time money transfer services between banks, processing transactions with settlement in local currencies.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

NAPAS operates Vietnam's national payment switching infrastructure, providing domestic and international switching services, electronic clearing, and payment gateway services. The company connects 68 member banks and financial institutions through over 20,600 ATMs and 741,000+ POS/mPOS terminals, serving 80+ million customers with services including interbank money transfers (NAPAS 247), QR payments (VietQR/VietQRGlobal), contactless payments, bill payment, and cross-border payment connectivity.

Product overview

NAPAS (National Payment Corporation of Vietnam) operates Vietnam's national payment infrastructure as a platform comprising multiple interconnected services. The core portfolio includes domestic card services (NAPAS cards with issuer code 9704), real-time fund transfer (NAPAS 247), QR payment solutions (VietQR and VietQRCash), contactless payments (NAPAS Tap & Pay, Tap to Phone, Apple Pay), domestic and international switching services, online payment gateway, and bill payment services. The platform connects over 20,600 ATMs, more than 741,000 POS/mPOS terminals serving over 80 million customers across 68 member banks. NAPAS has expanded into cross-border payments through VietQRGlobal, enabling QR interoperability with partner countries including China, Korea, India, Thailand, and ASEAN nations. The company positions itself as Vietnam's payment switch operator and clearing house, facilitating interbank transactions and electronic payment services for banks, payment intermediaries, and end consumers.

Differentiator

Problem solved

Functional benefit

Brands

• VietQR: Vietnam's national QR payment standard and brand for QR code payments
• VietQR Global
• NAPAS 247
• NAPAS Tap & Pay

Products and services

• NAPAS 247 Real-time 24/7 instant money transfer service enabling customers to transfer funds between accounts at different banks within the NAPAS network using cards or bank accounts, with transaction limits up to 500 million VND per transaction. Offered to member banks, payment intermediaries, and money transfer service providers.
• VietQR National QR code payment standard for Vietnam enabling customers to make payments by scanning QR codes. Supports cross-border interoperability through VietQRGlobal and is offered to member banks, payment intermediaries, merchants, and consumers.
• VietQRCash QR code-based cash withdrawal service allowing customers to withdraw cash by scanning VietQR codes at participating merchants and ATMs.
• NAPAS Tap & Pay Contactless NFC payment service allowing customers to tap their cards or mobile devices to make payments at NFC-enabled terminals without physical contact.
• NAPAS Domestic Switching (ATM/POS) Domestic payment switching service connecting over 20,600 ATMs and 741,000+ POS/mPOS terminals across Vietnam's banking network, processing interbank transactions for 68 member banks serving 80+ million customers.
• NAPAS International Switching International payment switching service enabling cross-border transactions and connectivity with international payment networks.
• NAPAS Payment Gateway Online payment gateway service for merchants and payment service providers to accept electronic payments through multiple channels, offered to banks, payment intermediaries, and other entities.
• NAPAS Bill Payment Bill payment service allowing customers to pay utility bills, telecommunications, insurance, and other recurring payments through the NAPAS network.
• E-wallet Top-up/Withdrawal Service Service enabling customers to deposit and withdraw funds from electronic wallet accounts through the NAPAS network, connecting e-wallets with the national banking infrastructure.
• NAPAS Domestic Card Domestic payment card scheme operated by NAPAS, with cards issued by Vietnamese banks and financial companies using card numbers starting with the issuer code 9704 assigned by the State Bank of Vietnam.
• VietQRGlobal Cross-border QR payment infrastructure enabling international visitors to use their home country payment apps to scan VietQR codes at Vietnamese merchants, and Vietnamese users to pay abroad through reciprocal arrangements with Korea, China, India, Thailand, Laos, Cambodia, and other partner countries.
• Standards Compliance Testing Service Testing and evaluation service for compliance with NAPAS's technical standards, offered to banks, payment intermediaries, and technology vendors.

Quantifiable outcome

• Vietnam cashless transaction volume increased 43.3% in first nine months of 2025
• +1 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

Feature5 records

Partnerships

Nine partnerships are on record, tiered core and flagship.

• NPCI InternationalcoreTechnology or Integration · 6 May 2026Partnership for cross-border QR payments between India and Vietnam, supporting the $25 billion bilateral trade target by 2030. Part of India-Vietnam Enhanced Comprehensive Strategic Partnership agreements signed during delegation-level talks.
• Reserve Bank of India and State Bank of VietnamcoreStrategic or Co-development Partner · 6 May 2026Bilateral agreements under India-Vietnam Enhanced Comprehensive Strategic Partnership. Key collaborations include partnerships on digital payments between central banks, supporting the $25 billion trade target by 2030 under India's Act East Policy.
• Ant International (Network Expansion)coreTechnology or Integration · 1 May 2026Ant International's strategy includes partnerships with Vietcombank and NAPAS in Vietnam as part of global network expansion, enabling cross-border payments and SME lending capabilities. Ant International's network connects 150+ million merchants across 220+ markets.
• GLN International (Hana Bank subsidiary)coreTechnology or Integration · 23 April 2026Launched nationwide QR payment service in Vietnam connecting to NAPAS national QR infrastructure (VietQR Global system). Hana Bank serves as sole Korean settlement bank with State Bank of Vietnam approval, enabling users of Korean fintech apps (Toss, PurpleGLN, Hana OneQ) to make QR payments in Vietnam without currency exchange. Service covers tourist destinations including Da Nang, Phu Quoc, Nha Trang, and Ho Chi Minh City.
• Ant InternationalcoreTechnology or Integration · 3 April 2026Jointly launched cross-border QR payment service enabling Chinese tourists to use Alipay at merchants within Vietnam's NAPAS network. Transactions processed through NAPAS-Ant International connectivity with Vietcombank handling clearing and settlement in CNY and VND. Targets significant inbound Chinese tourist market by removing friction from point-of-sale payments.
• UnionPay InternationalcoreTechnology or Integration · 1 March 2026Cooperation memorandum with Vietnam's NAPAS signed for QR code interoperability. Implemented bilateral local-currency settlement arrangements in Indonesia and Vietnam. UnionPay connecting QR network with payment networks in Malaysia and Singapore under government-to-government and network-to-network cooperation models.
• VNPAYcoreTechnology or Integration · 11 February 2026Comprehensive cooperation agreement to expand Vietnam's digital payment ecosystem by enabling cross-border QR code payments under VIETQRGlobal brand. International visitors can scan VIETQRGlobal codes at merchant outlets within VNPAY's acceptance network, while Vietnamese users can use VNPAY app to scan QR codes at overseas merchant networks of NAPAS.
• VNPAY (Mekong Region Expansion)coreTechnology or Integration · 11 February 2026Partnership includes implementing cross-border QR payments, initially enabling tourists from Thailand, Laos, and Cambodia to use domestic payment applications at VNPAY acceptance points in Vietnam, with plans for further expansion to strengthen Vietnam's digital payment infrastructure.
• Mastercard and PayooflagshipGTM or Marketing Partner · 1 December 2025Nationwide promotional campaign to boost contactless payments with budget of VNĐ14 billion (US$531,000) spanning 5,500+ retail locations from November 2025 through Q1 2026. Offers NAPAS and Mastercard cardholders discounts up to 15% or fixed reductions up to VNĐ200,000 per transaction at participating merchants including AEON, FamilyMart, FPT Shop, and McDonald's. Third consecutive year of joint nationwide promotion.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• National Payments Corporation of India (NPCI): NPCI operates India's national payment infrastructure (UPI, RuPay, IMPS), the closest functional analog to NAPAS as a national switch operator serving hundreds of member banks and processing real-time retail payments at massive scale.
• VNPAY: Vietnam's leading domestic payment intermediary and NAPAS partner, operating a competing merchant QR acceptance network and digital wallet. Direct peer in Vietnam's digital payments ecosystem with overlapping B2B customers.
• Payoo: Vietnamese payment intermediary and POS terminal deployer that integrates with NAPAS infrastructure for contactless payment campaigns. Direct peer in domestic merchant acquiring and payment processing.
• UnionPay International: China-headquartered global card network that has signed a cooperation memorandum with NAPAS for QR code interoperability. Direct counterparty in cross-border retail payments and a competitor for international switching volumes.
• Ant International (Alipay+): Operates Alipay+ cross-border mobile payment network connecting 150M+ merchants across 220+ markets, with NAPAS as a key Vietnam partner. Direct peer in cross-border QR interoperability and Asian payment connectivity.

Regional players

• Network for Electronic Transfers (NETS) Singapore: Singapore's national payment network operator providing EFTPOS, QR, and digital payment services to banks and merchants. Comparable national/regional payment switch in ASEAN peer geography.
• PayNet (Malaysia): Malaysia's national payment network operator, part of Bank Negara Malaysia, operating the country's shared ATM and QR payment infrastructure. Regional peer in ASEAN with analogous national-switch mandate.

Emerging players

• MoMo (M_Service): Vietnam's largest e-wallet and consumer payment app, integrating with NAPAS rails but competing at the consumer interface. Emerging peer representing the fintech disruption vector to NAPAS's wholesale position.

Broad incumbents

• Mastercard: Global card network and NAPAS partner for the contactless payment campaign in Vietnam. Broad incumbent competing for cross-border card volume and high-value merchant relationships in Vietnam.
• Visa: Global payments network serving Vietnam through partnerships with local banks; competes with NAPAS in cross-border card payments and is increasingly investing in QR acceptance as an alternative to local switches.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCc5yR3KB47BSHkuNSzvl8dQ
• Facebookfacebook.com/NapasVietnam
• LinkedInlinkedin.com/company/national-payment-corporation-of-vietnam-napas-

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 Napas