Google opens Wallet service in Vietnam

, Google opens Wallet service in Vietnam

In addition to bank cards, Google Wallet in the future can also integrate e-tickets and membership cards of services.

, Google opens Wallet service in Vietnam

, Google opens Wallet service in Vietnam

Google Wallet currently only supports Visa payment cards of some domestic banks. Photo: Ha Le.

Google has officially introduced the Wallet service in Vietnam. This application has just been launched by the company in May, replacing Google Pay. The App has been available for download on CH Play since November 15.

Google Wallet allows users to integrate bank cards, membership cards and electronic tickets such as subway tickets. In Vietnam, after launching, users of Visa cards of 7 banks (including ACB, Sacombank, Shinhan Bank, Techcombank, TPBank, Vietcombank and VPBank) were able to integrate cards and pay via Google Wallet.

A Google representative also said that in the near future, the service will support more banks as well as Mastercard card services.

As for the membership card storage feature, the app currently supports saving membership codes of some popular services such as Vietnam Airlines or CGV. In addition, the application can also receive data from email and store the user’s boarding pass.

Although not supported in Vietnam, a Google representative shared that Singaporeans often use this feature to swipe when riding the subway, no need to carry a hard card like before. Payment or authentication is done via NFC, no Internet connection required.

Payment card storage application is one of the important features to accelerate contactless payment, digital payment. According to Visa data, in Vietnam, about 37% of transactions are made through contactless payment. The representative of this unit also predicted that the number will continue to increase in the near future, having grown exponentially in the past 3 years.

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In October 2021, the Government approved Project to develop non-cash payment in Vietnam, period 2021-2025. The project aims to achieve an average growth rate of 20-25% per year in the number and value of non-cash payment transactions.

Google’s e-Conomy SEA 2022 report also predicts that digital payments will reach a total transaction value of 143 billion USD in Vietnam by 2025.

@ Zing News

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