SmartPay, OpenWay launch mobile wallet in Vietnam, target 30 mln users

News Wireless Vietnam 2 JUL 2019
SmartPay, OpenWay launch mobile wallet in Vietnam, target 30 mln users
Fintech startup SmartPay has introduced a digital wallet service in Vietnam. SmartPay reports that its digital wallet platform targets 25 million consumers and 6 million small and medium merchants. The SmartPay digital wallet service for merchants and consumers enables digital payments, loans, savings, loyalty programs, bill payments, money transfers and data-driven services, all directly from a mobile phone. 

To access the service, customers should download the SmartPay app and complete their KYC. The wallet is powered by the Way4 platform, provided by software developer OpenWay. For merchants – both SMEs and individual sellers – the wallet enables acceptance of QR-code payments without investments in POS infrastructure.

SmartPay leverages the Way4 technological platform for its m-wallet service. The Way4 open software platform developed by OpenWay manages B2C and B2B wallet accounts, enables acceptance of QR code and NFC payments, and processes card- and account-based transfers online. It automates customer onboarding, claim management and other workflows, powers security and BI, and provides APIs to integrate with payment schemes and partners. 

Vietnam currently has 95 million inhabitants, and 1 out of every 4 people is unbanked or underserved. According to OpenWay, nearly 6 million SMEs and numerous individual online sellers struggle with cashless payments acceptance.

Categories:

Mobile

Companies:

SmartPay

Countries:

Vietnam

Tags:

e-Payment, Launch, Consumer, Enterprise

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