VBSP is the unit that implements preferential credit policies for the poor and other policy beneficiaries. VBSP's activities aim to develop the economy in association with hunger eradication, poverty alleviation, social security assurance for the goals of a prosperous people - a strong country, a democratic, equitable and civilized society.

With the goal of expansion of a variety of modern payment products and services for the people, not limited to specific customer groups, VBSP has officially joined and become the 60th member of the group of Banks/financial institutions participating in the NAPAS system since 2021. Up to now, after a period of cooperation between NAPAS and VBSP, the NAPAS FastFund 247 service and the NAPAS FastFund 247 with VietQR service have been provided for customers throughout the VBSP system.

Accordingly, customers can access the VBSP Smartbanking application and make NAPAS FastFund 247 service from their current accounts opened at VBSP to 45 member banks of NAPAS and vice versa. In addition, customers can also create a personal QR code to receive money right on the VBSP Smartbanking application, and transfer money by scanning QR codes of other banks. Money transfer/payment through these two methods would bring a convenient, fast and safe payment experience to customers. Moreover, transactions can be done anywhere, anytime with a value of up to 500 million VND/transaction and completely free according to current regulations.

Sharing about the meaning of this cooperation, Mr. Nguyen Quang Minh, the General Director of NAPAS said: "In the strong development trend of electronic payment activities in recent years, improving the access to modern, safe and convenient payment products and services for people in rural and remote areas is very meaningful. With the strength of VBSP's branch and customer network in 63 provinces and cities across the country, NAPAS believes that the good cooperation with VBSP will be an important step that promotes the field of non-cash payment to develop more and more, and at the same time, contributes to the universalization of comprehensive finance to disadvantaged groups in the society. In the coming time, NAPAS and VBSP will also strengthen cooperation to deploy more payment products and services to meet the payment need of all people and support socio-economic activities, especially actively contribute to the country's digital transformation process".

On the side of VBSP, Mr. Hoang Minh Te, Deputy General Director said: "The cooperation between NAPAS and VBSP aims to provide modern payment products and services such as money transfer via VietQR code to bring a new experience to customers. This not only expands the network of money transfer/payment by QR code in general, but also provides opportunities for people, especially the poor, people in rural, remote areas and islands to access to modern, convenient and fast non-cash payment services. With the newly launched QR service, VBSP is affirming its strong digital transformation efforts, applying many advanced technology solutions, bringing a diverse digital ecosystem and the most convenient experiences on digital channels for customers."

Over the years, NAPAS has constantly connected and expanded its system. Up to now, the network of member organizations of NAPAS includes 04 state-owned commercial banks, 31 joint-stock commercial banks, 04 financial companies, 23 foreign banks/bank branches, and 01 cooperative bank and 01 Bank for Social Policies. The close cooperation between NAPAS and its member organizations has brought modern, safe and convenient payment products and services to users, thereby contributing to perfecting the modern digital financial platform, promoting the overall development of Vietnam's payment market.