Samsung on Wednesday launched its mobile payment service Samsung Pay in Việt Nam in partnership with the National Payment Corporation of Viet Nam.

Mobile payment service Samsung Pay will be available in Viet Nam from the end of this month. Card holders can instal the Samsung Pay app in their smart phones to “tap and pay”.

People having ATM cards of six banks –Vietinbank , Vietcombank, BIDV, Sacombank, Shinhan Viet Nam Bank, and ABBank – can use the Samsung Pay app to “tap and pay” using their smart phones at merchants’ counters across the country.

The app is compatible with flagship Samsung devices dating back to Galaxy S6 and Galaxy A.

Samsung and NAPAS soon aim to expand the service to more banks.

It is now being trialled and will be available nation-wide from September 29.

Pham Tien Dung, head of the State Bank of Viet Nam (SBV)’s payment department and chairman of NAPAS, said: “The use of new technology in card payment to enhance convenience and ensure transaction safety for card holders will help promote non-cash payment in Viet Nam backed by the Government and SBV.”

According to the Viet Nam Bankcard Association, the e-payment market in Viet Nam has great potential since it has around 53 card issuers and more than 104 million cards had been issued as of the end of last year.

With a young population and high rate of mobile phone use, e-wallet services in the country are expected to grow rapidly.

VNS