In a landmark move to accelerate the adoption of secure and seamless digital transactions across Vietnam, IDEMIA Secure Transactions (IST) has announced a strategic partnership with the National Payment Corporation of Vietnam (NAPAS). This collaboration is set to revolutionize the country’s digital payment infrastructure by integrating IST’s advanced Token Platform into NAPAS’ extensive financial network that spans more than 40 banking institutions.
Vietnam’s Mobile-First Generation Spurs Demand for Digital Innovation
With Vietnam’s young, mobile-first population increasingly demanding smarter and safer payment solutions, this partnership arrives at a pivotal time. Over half the Vietnamese population is under the age of 35 and owns more than one smartphone, creating fertile ground for mobile-first, contactless payments. The integration of IST’s Token Platform is expected to fulfill these rising expectations by enabling secure, frictionless transactions across a wide range of digital channels.
IST’s Token Platform: A Secure Foundation for Digital Transactions
At the heart of this collaboration is IST’s Token Platform, a robust solution designed to replace sensitive card data with unique digital tokens. These tokens power a variety of use cases, from mobile NFC tap-and-pay, in-app purchases, to remote and peer-to-peer payments, without ever exposing the cardholder’s actual payment details. This not only significantly reduces fraud risks but also enhances consumer confidence and convenience.
API-Ready Integration for Scalable Digital Payment Solutions
The tokenization platform is agnostic and API-ready, ensuring smooth integration with multiple stakeholders across the digital payments ecosystem — including global xPay wallets, card-on-file merchants, and participating issuers. This flexibility means Vietnamese banks and fintech players will be able to roll out next-gen digital payment solutions more rapidly and with fewer technical barriers.
Enhanced Contactless Capabilities Across Devices
As a result of this partnership, Vietnamese consumers will now be able to use their smartphones for in-store payments — via NAPAS-backed bank wallets on Android devices and Apple Pay on iOS — ushering in a new era of contactless convenience. Additionally, consumers will enjoy a streamlined in-app payment experience for e-commerce, marking a significant evolution from the QR code-based payments that have dominated Vietnam’s digital economy in recent years.
IDEMIA Reaffirms Commitment to Vietnam’s Digital Future
Speaking about the collaboration, Isaac Lee, Regional Vice President and Head of Digital for Asia Pacific at IDEMIA Secure Transactions, said: “We are excited that this collaboration will complement everyday transactions for the Vietnamese society, fostering wider adoption of digital payments. With QR code payments being commonplace in Vietnam for years now, the community views mobile contactless payments as an innovative evolution paving the way for a more cashless economy. Most importantly, our partnership with NAPAS marks a significant milestone in our commitment to supporting the government’s vision of realizing its non-cash payment goals in 2025.”
Paving the Way for a Smarter, Safer Digital Economy
With Vietnam aiming to become a leading digital economy in Southeast Asia, the NAPAS-IDEMIA partnership is poised to play a crucial role in aligning the nation with global standards in fintech innovation. It’s not just a technological upgrade—it’s a strategic leap toward a smarter, safer, and more inclusive digital payment ecosystem.
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