The VietQRCash Launching Ceremony was attended by Deputy Governor Pham Tien Dung and Leaders of functional departments of the State Bank of Vietnam, General Secretary Nguyen Quoc Hung of the Vietnam Banks Association, Leaders of NAPAS and member banks.

The VietQR standard implemented by NAPAS was first released in June 2021. Accordingly, the VietQR is built on the basic set of QR Code standards issued by the State Bank of Vietnam for the whole market to connect and switch payment transactions and money transfers by QR code between banks and payment intermediaries through the NAPAS system.

Up to now, with the increasing non-cash payment habits, especially after the Covid-19 epidemic in Vietnam, the method of money transfer by scanning a QR code is used by many customers in daily spending and payment because of its speed, convenience and safety.

To continue to perfect the digital infrastructure with VietQR based on implementing Decision No. 810/QD-NHNN dated 11/05/2021 by the Governor of the State Bank of Vietnam on the plan of digital transformation of the banking industry to 2025, with an orientation to 2030, NAPAS has coordinated with member banks to complete the development of inter-bank ATM withdrawal service by VietQR code (the brand name of the service is VietQRCash).

At the initial stage of service implementation, customers owning NAPAS cards and using mobile banking applications of eight banks, including BIDV, VietinBank, Vietcombank, Agribank, Saigonbank, Sacombank, NCB and NAM A BANK can withdraw money on the ATM system of six out of eight banks (currently excluding ATMs of NCB and NAM A BANK) by scanning VietQR code without carrying physical cards.

Withdrawal transactions are simple and fast. Customers only need to access the bank's payment application to scan the QR code displayed on the ATM screen. After choosing the card type (in the case of owning many cards), customers can select an amount to be withdrawn on the bank's mobile app or the ATM and complete the verification steps. The transaction limit and fee for VietQRCash service are similar to the current regulations for withdrawal on ATMs using NAPAS cards. The total number of ATMs of the first banks deploying VietQRCash service accounts for more than 60% of the total number of ATMs available in the market. This will be a favorable condition for customers to increase their experience using the new service.

At the launching event, Mr. Nguyen Quang Minh - General Director of NAPAS, said: The significance of the cooperation between NAPAS and banks in deploying and providing VietQRCash service is not only to complete the digital infrastructure with VietQR code but also to mark a new development in the digital journey of the bank's products and services to bring a synchronous experience for customers from opening online payment accounts and non-physical cards to performing transfer transactions, paying by VietQR code.  

"After completing the implementation with the first eight banks, NAPAS is ready to expand VietQRCash service to the whole member banks this year, thereby perfecting the ecosystem of products and services on the digital platform to meet the payment needs and support digital transformations in all sectors of the economy." - Mr. Minh shared.

The first eight member banks of NAPAS to deploy VietQRCash service include VietinBank, BIDV, Vietcombank, Agribank, Sacombank, Saigonbank, NCB and NAM A BANK.

INSTRUCTIONS FOR USING ATM WITHDRAWAL SERVICE WITH VIETQR (VIETQRCASH)

Step 1: Choose the method of withdrawal using the VietQRCash code on ATMs of banks that deploy the service with NAPAS

Step 2: Scan QR by mobile apps of banks

Step 3: Choose the method to enter the amount to be withdrawn in 1 of 2 ways:

- Enter the amount to be withdrawn on the bank's mobile app.

- Enter the amount to be withdrawn on the ATM screen.

Step 4: Enter card PIN at ATM (Note: use your hand to cover when entering a PIN)

Successful transaction