BIDV named typical partner bank of NAPAS in 2021

Bao ngoc

With positive results in the cooperation, BIDV was named by Vietnam National Payment Corporation (NAPAS) as a typical partner bank in 2021, honoured with two awards “Bank with The Best POS Network” và “Dynamic Bank”.

The awards ceremony was part of NAPAS Member Banking Conference annual event which honors BIDV and other representative member banks for their contributions to the financial switching operation and electronic clearing system, helping to promote the banking system, non-cash payment under the orientation of the Government and the State Bank of Vietnam.

The “Bank with The Best POS Network” award was based on four criteria: first, number of transactions per POS; second, growth in the number of POS transactions on the payment bank side; third, proportion of active POS; and fourth, the implementation of dual POS (acceptance of contactless and contactless chip cards). In 2021, BIDV completed the implementation of dual POS according to VCCS technical standards, with an average of 445 transactions per POS. Total number of one-way transactions via POS increased by 16 percent compared to 2020, with 72 percent of POS transactions generated via NAPAS.

The “Dynamic Bank” award is given to banks that have actively accompanied and joined NAPAS to implement key projects as well as pilot projects including QR Thailand, VietQR, international connection with DFS and NSPK, prepaid card, Vinbus and Topup connection.

Given the Covid-19 pandemic, in 2021 BIDV and member organisations cooperated with NAPAS to launch new projects and products to the market, such as converting magnetic cards to chip ones, integrating payment application in traffic, expanding the connection of online payment infrastructure at the National Public Service Portal with 63 ministries and localities, connecting payment using compatible QR codes between Vietnam and Thailand, the cashless payment solution on the first electric bus route of Vinbus.

Also in 2021, NAPAS collaborated with BIDV and its partners to implement 20 marketing and promotion programs as well as work with media agencies to deploy programs that contributed to raise awareness and behavior in consumption, thereby promoting the non-cash payment. NAPAS also shared with BIDV and its member organisations about the plans and strategic projects that will be implemented in 2022 with a vision to 2025.

A representative of BIDV receives the award from Napas