HCM City, US company cooperate in boosting online payment

14:55 | 08/08/2019 Finance - Banking

Vice Chairman of Ho Chi Minh City’s People’s Committee Ngo Minh Chau hosted Regional President for Asia Pacific of the US-based VISA company on August 7, during which they discussed cooperation in building an online payment system for Vietnam’s largest city.

Vice Chairman of Ho Chi Minh City’s People’s Committee Ngo Minh Chau (R) and Regional President for Asia Pacific of the US-based VISA company - Photo: VNA

Chau affirmed that during the process of building the city into a smart urban area and an economic, financial, scientific and technological hub of the region, it hopes to and is willing to expand its collaboration with international partners, including VISA.

Bilateral cooperation in the transport sector will contribute to addressing challenges facing the city, especially in the development urban transport, he stated.

He added that VISA’s proposal of collaborating in building an online payment system is in line with the city’s demand, so the city will coordinate closely with the company in this field to make it become a pioneer in applying an online payment system in Vietnam.

He also stressed that ensuring safety to avoid any possible risks is an important factor to consolidate locals’ confidence and encourage them to get involved in the new payment method.

Clark stated that VISA has signed a cooperation agreement with the Vietnamese Ministry of Transport on the use of smart tickets for the city’s bus system. He expressed his hope that the application will be expanded to metro routes and other public transport systems in the city.

Underlining the importance of developing the online payment method in the modern economy, he affirmed that VISA hopes to bring to the city the most advanced technologies in non-cash financial payments so as to help boost the city’s economic development.

He told the host that his company plans to study the implementation of a programme dedicated to start-up businesses to promote online payment in small- and medium-sized enterprises in Vietnam in general and in Ho Chi Minh City in particular.

Theo NDO/VNA