The conference directed by Mr. Pham Tien Dung, Deputy Governor of the State Bank of Vietnam (SBV), along with representatives from relevant departments and agencies of the SBV, the Government Office, the Ministry of Public Security, the Vietnam Banks Association, as well as members of the Board of Directors, the Supervisory Board, and key management staff of NAPAS.

Deputy Governor of the State Bank of Vietnam Pham Tien Dung delivers directive remarks at the conference

At the opening of the conference, Mr. Nguyen Quang Hung – Chairman of the Board of Directors of NAPAS – provided an overview of several key developments in Vietnam’s digital payment market in recent years. Remarkably, payment transactions have recorded impressive growth, closely associated with rapid technological advancements and the strong adoption of new payment methods such as QR code payments, contactless payments, biometric authentication, and multi-service integrated e-wallet solutions.

Moreover, the policy framework and legal regulations governing digital payments have been refined and improved, contributing to the enhancement of transparency, while facilitating easier access for individuals and businesses to modern payment methods. These developments have, in turn, played an important role in promoting the growth of Vietnam’s digital economy.

Chairman of the Board Nguyen Quang Hung delivers remarks at the Conference

From NAPAS’s perspective, 2025 also marked the successful completion of the Company’s Development Strategy for the 2021–2025 period. This achievement has laid a solid foundation for NAPAS to formulate and implement its Development Strategy for the 2026–2030 period, in line with the rapid growth of the cashless payment market and reinforcing its role as the operator and manager of a modern, secure, and internationally integrated national retail payment infrastructure.

Subsequently, Mr. Nguyen Quang Minh, Chief Executive Officer of NAPAS, on behalf of the Company's management, presented the operational results for 2025 and launched the emulation movement to fulfill the Company's tasks and objectives in 2026, as well as key orientations and action plans.

Chief Executive Officer Nguyen Quang Minh launches the emulation movement to fulfill tasks for 2026

In 2025, transactions processed through the NAPAS system increased by 24% in volume and 8% in value. NAPAS247 instant fund transfer transactions continued to record substantial growth, rising by 27% in volume and 8% in value compared to the previous year. Online payment transactions also witnessed significant increase of over 25% in volume compared to 2024. Meanwhile, ATM cash withdrawal transactions continued to decline, decreasing by 29% in volume and 26% in value. This trend reflects a clear shift toward more convenient payment methods such as NAPAS247 instant transfers and VietQR payments.

With regard to the operation of financial switching and digital payment systems, in 2025 NAPAS focused on implementing effective solutions to enhance the system’s security, streamline operations, and improve processing capacity. These efforts further reaffirmed NAPAS’s pioneering role in building a modern and secure national retail payment infrastructure.

In addition, NAPAS has consistently placed strong emphasis on risk management of fraud and impersonation. In 2025, NAPAS entered into a strategic cooperation agreement with Department A05 of the Ministry of Public Security and, together with 10 member organizations, deployed a transaction risk warning system based on SIMO data of the State Bank of Vietnam. As a result, member organizations can benefit from the fraudulent and impersonation transaction monitoring services from both the A05 and SIMO systems. During 2025, NAPAS issued more than 3.4 million alerts to customers, enabling them to proactively halt suspicious transactions immediately. At the same time, NAPAS coordinated with the Vietnam Banks Association to develop a Handbook on Handling Accounts/Cards Suspected of Fraud, contributing to the establishment of a transparent payment system. By the end of 2025, NAPAS had coordinated the deployment of this tool across 47 banks.

Regarding the expansion of payment products and services, 2025 marked a year of remarkable achievements for the Company.

NAPAS accelerated the deployment of VIETQRPay for domestic retail payment transactions and VIETQRGlobal for cross-border payment transactions. In addition to countries where connectivity has already been completed - Thailand, Laos, and Cambodia - in 2025 NAPAS successfully completed the bilateral QR code payment to connect Vietnam and China, initially enabled Chinese tourists to make payments in Vietnam. In the coming period, NAPAS will continue to coordinate with member organizations to expand the VIETQRGlobal acceptance network within Vietnam, while strengthening the cooperation with other countries such as Singapore and South Korea. NAPAS also launched VIETQRMe (a customer-presented QR code payment solution) for applications in retail payments, public transportation (buses and metro), and parking facilities.

Additionally, Apple Pay payment services for NAPAS cards are now available on Apple smart devices, as well as the Tap and Pay services on Android-based devices. As a result of this innovative move, users will be able to make payments more conveniently.

To introduce modern payment methods for public transportation users, NAPAS coordinated with relevant stakeholders to complete the deployment of NAPAS card and Apple Pay payments on Metro Line 01 (Ben Thanh – Suoi Tien) and the urban bus network in Ho Chi Minh City and is continuing to expand payment acceptance across public transportation systems in Hanoi.

According to Mr. Nguyen Quang Minh, Chief Executive Officer of NAPAS, NAPAS will focus on its top priority of ensuring the quality of services and the safety of its financial switching and digital payment systems in 2026, while implementing payment products and services and expanding acceptance networks for VIETQRPay and VIETQRGlobal. Amid the positive outlook of digital transformation, NAPAS is committed to closely coordinating with member organizations and partners to continuously expand service coverage, enhance service quality, and contribute to the overall growth of digital payments.

Mr. Pham Tien Dung – Deputy Governor of the State Bank of Vietnam – also congratulated NAPAS and acknowledged its notable achievements in 2025. According to the Deputy Governor, NAPAS recorded solid development and successfully fulfilled its core tasks, including efforts to connect and implement online public service payment solutions with over 6.9 million public service payment transactions, as well as the deployment of cross-border payment connectivity with multiple countries, especially the official launch of services with China. The Deputy Governor noted that NAPAS has received high recognition from international partners for its implementation model, which facilitates the use of bank mobile applications by Vietnamese users to scan QR codes for payments abroad and vice versa.

In particular, the Deputy Governor commended NAPAS for completing, in coordination with the Vietnam Banks Association, the issuance of the Handbook on Handling Accounts/Cards Suspected of Fraud over the past year. This is a key task reflecting NAPAS’s responsibility in serving and protecting the legitimate rights and interests of the public.

Looking ahead to 2026, amid a new context characterized by significant market potential alongside challenges, Deputy Governor Pham Tien Dung requested that NAPAS continue to focus on effectively implementing several key tasks assigned by the State Bank of Vietnam, specifically:

At the conclusion of the Conference, Mr. Nguyen Quang Hung – Chairman of the Board of Directors of NAPAS – on behalf of the Company’s leadership and all employees, acknowledged and committed to fully incorporating the Deputy Governor’s directives into the 2026 work plan. He reaffirmed NAPAS’s commitment to upholding a spirit of creativity, solidarity, and dedication to successfully fulfill assigned tasks and build a sustainable development foundation for NAPAS in the 2026–2030 period.