ECO PAY – The Comprehensive Payment Integration Platform for Businesses

As of early 2024, cashless payment transactions in Vietnam have increased significantly compared to the same period in 2023. According to data from the State Bank of Vietnam, there has been a 63% increase in transaction volume and a 41% increase in transaction value across most payment channels. Notably, QR code payments saw a substantial surge, with an 893% increase in transaction volume and a 1,062% increase in transaction value. Mobile phone payments, internet transactions, and POS payments also experienced growth, with transaction volume increases of 68%, 59%, and 17% respectively.

However, many businesses encounter challenges when they adopt cashless payment solutions due to the market’s diversity, including various payment methods, different partners, and varying connection technologies. Furthermore, using multiple payment solutions from different partners often results in operational inefficiencies or delays in cash flow, as each partner has its own settlement process and schedule.

In response to these challenges, Finviet Technology Corporation has developed ECO PAY. It is a payment platform that aims to optimize business operations. Finviet is one of the few companies licensed by the State Bank of Vietnam to provide e-wallet services, payment intermediaries, and collection-disbursement services. This strong foundation enables Finviet’s all-in-one ECO PAY platform to handle various tasks, including e-wallets, payment gateways, QR codes, POS, and Soft POS, thus streamlining operations for businesses.