What M-Pay does

M-Pay Trade and Technology Services Joint Stock Company is a privately held payment services provider headquartered in Ho Chi Minh City, Vietnam. Established in 2008 and licensed by the State Bank of Vietnam in 2016 to operate as an intermediary payment services provider, the company enables Vietnamese businesses to accept and process electronic payments through a licensed, regulation-compliant infrastructure. Its product portfolio is concentrated in two offerings: 2C2P by Antom payment solutions and Antom payment solutions, both distributed in Vietnam under M-Pay's SBV license. The company is PCI DSS certified for card data security.

M-Pay operates as a B2B intermediary with a horizontal go-to-market targeting all businesses in Vietnam that require payment processing. Distribution is conducted through direct enterprise engagement rather than channel partners, and the company's stated positioning ("Payments for every business in Vietnam") suggests a broad merchant-segment focus rather than a vertical specialization. The company's revenue model is transaction-fee based on payment processing volume, with no pricing disclosed publicly. The company has no parent, no subsidiaries, no disclosed funding rounds, no public management team, and no significant online presence beyond its corporate website.

The underlying technology stack is not proprietary to M-Pay; the company is effectively a licensed local reseller and intermediary of 2C2P/Antom payment infrastructure, with its own value-add being the regulatory license, local market relationships, and PCI DSS compliance posture. There is no disclosed AI/ML capability, no proprietary API or SDK, and no in-house product development footprint evident in the input data.

Name

M-Pay

Legal name

M-Pay Trade and Technology Services Joint Stock Company

Website

https://m-pay.vn

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

101–250 employees

Short description

M-Pay is a privately held, State Bank of Vietnam-licensed intermediary payment services provider in Ho Chi Minh City, enabling Vietnamese businesses to process electronic payments through 2C2P by Antom and Antom payment solutions.

Ownership category

akta.pro rank

Product category

Payment Processing Services

akta.pro primary industry

Alternative Payment Method (APM) Acquiring (e.g., BNPL, wallets, local methods) (FSAMABAL)

Keywords

• Intermediary payment services
• Electronic payment processing
• Payment gateway services
• Licensed payment provider
• Vietnam payment solutions

Headquarters

HQ city

Hanoi

HQ country

Vietnam

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Intermediary Payment Services: M-Pay generates revenue as a licensed intermediary payment services provider in Vietnam. The company processes electronic payments for businesses and earns fees for payment transaction processing services.

Go-to-market motion1 record

Distribution channels1 record

Core offering

M-Pay is a licensed intermediary payment services provider in Vietnam, authorized by the State Bank of Vietnam since 2016. The company enables businesses in Vietnam to accept and process electronic payments through its licensed platform, serving as the local licensed provider of 2C2P by Antom and Antom payment solutions for the Vietnamese market.

Product overview

M-Pay is a payment services provider offering licensed payment solutions for the Vietnamese market. The company provides two main payment products: 2C2P by Antom payment solutions and Antom payment solutions, both serving as intermediary payment services licensed by the State Bank of Vietnam. These solutions enable businesses across Vietnam to accept and process electronic payments.

Differentiator

Problem solved

Functional benefit

Products and services

• 2C2P by Antom payment solutions

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Two partnerships are on record, tiered core.

• 2C2PcoreTechnology or IntegrationM-Pay serves as the licensed provider of 2C2P payment solutions for the Vietnamese market. 2C2P is a payment solutions provider that offers various payment processing capabilities, which M-Pay distributes to businesses in Vietnam under its State Bank of Vietnam license.
• AntomcoreTechnology or IntegrationM-Pay provides Antom payment solutions as a licensed provider in Vietnam. Antom offers comprehensive payment solutions, and M-Pay distributes these services to the Vietnamese business market through its licensed intermediary payment services platform.

Scale indicators2 records

Recent moves5 records

Expansion highlights2 records

Direct peers

• VNPay: Vietnam's largest domestic payment intermediary providing QR, card, and e-wallet processing for merchants nationwide. Directly comparable to M-Pay as a SBV-licensed payment services provider serving Vietnamese businesses, though at materially larger scale.
• MoMo: Vietnam's leading e-wallet and payment super-app offering consumer payments, merchant acquiring, and bill payment services. Competes with M-Pay for the same Vietnamese merchant payment volume, with stronger consumer brand recognition.
• Payoo: Vietnamese payment services and consumer finance platform offering bill payment, payment acceptance, and merchant solutions. Directly comparable to M-Pay as a domestic licensed payment intermediary targeting the same Vietnamese business segments.
• ZaloPay: Vietnamese digital wallet and payment services provider operated by VNG, offering QR and online payment processing to merchants. Competes with M-Pay on the same merchant customer base in Vietnam.
• OnePay Vietnam: Vietnamese payment gateway and merchant services provider offering online payment processing for Vietnamese merchants. Comparable to M-Pay in business model, target customer, and SBV-licensed intermediary status.

Broad incumbents

• 2C2P: Regional payment solutions provider (now part of Ant Group) operating across SE Asia. Listed because M-Pay is the licensed local distributor of 2C2P solutions in Vietnam, making 2C2P both a partner and the upstream incumbent whose technology M-Pay resells.
• Adyen: Global enterprise payment platform providing unified online, in-store, and platform payment processing. Comparable to M-Pay as a B2B payment processor, though Adyen operates at materially larger scale and primarily outside Vietnam.
• Stripe: Global online payment processor serving businesses of all sizes with card and alternative payment acceptance. Relevant incumbent benchmark for M-Pay's B2B payment processing business model, though operating primarily outside Vietnam.
• Antom: Ant Group's international payment services arm offering global APM acceptance. M-Pay serves as the licensed local distributor of Antom in Vietnam, so Antom is both partner and broader incumbent whose global capabilities M-Pay leverages locally.

Emerging players

• NexPay Vietnam: Emerging Vietnamese payment services provider offering merchant acquiring and payment gateway services to SMB and enterprise merchants. Comparable to M-Pay in core activity with potentially overlapping target customer segments.

Market position

Strengths4 records

Weaknesses3 records

Competitive moat3 records

Key risks5 records

Key highlights5 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

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 M-Pay