The National Payment Corporation of Vietnam (NAPAS)
The National Payment Corporation of Vietnam (NAPAS) was established in 2004 and renamed from the Vietnam National Financial Switching Joint Stock Company (Banknetvn) as from 04/02/2016 on the basis of merging and acquisition with the Smartlink Card Services Joint Stock Company with an aim to build up a unified card switching center under the direction of the Prime Minister and the State Bank of Vietnam.
As having developed and completed the national retail payment infrastructure, NAPAS has been licensed by the State Bank to provide financial switching services and electronic clearing services in Vietnam. The largest shareholder of NAPAS is the State Bank of Vietnam, which accounts for 49% of the charter capital of the corporation.
NAPAS is currently administering and operating a switching system interconnected more than
17,000 ATMs, 270,000 POS machines, 300 and 300 electronic payment companies in the fields of aviation, telecommunication, hotel industry and tourism, and serving over
100 million cardholders of
46 domestic and international commercial banks operating in Vietnam.
The main products and services provided by NAPAS include:
Domestic switching serviceli>
International switching service
Electronic clearing and payment service
Electronic good faith collection/payment service
Payment gateway service
24/7 funds transfer service
With the brand statement
“One connection. All payments”, NAPAS has been coordinating with banks, partners, and international switching organizations to provide the market with a great number of electronic payment products and services applying the most advanced digital technology like Tokenization, QRCode payment solutions, etc..
“Convenience and modernity” is the lodestar for NAPAS and banks/partners to orientate the provision of diversified payment products and services that are up to international standards thus bring back a great number of benefits and best-quality services for their customers.