NAPAS and Vietbank launched domestic prepaid cards with contactless payment in traffic

Vietnam Thuong Tin Bank (Vietbank) and Vietnam National Payment Joint Stock Company (NAPAS) have just officially launched Vietbank NAPAS prepaid cards. This is a line of domestic prepaid cards with chips issued by Vietbank with contactless payment feature in multi-application traffic applying the basic standard of local chip cards of the State Bank. At the same time, Vietbank will play the role of a payment bank, deploying transaction flow according to NAPAS regulations and invest in a system of card acceptance equipment suitable for the respective type of traffic. Vietbank has coordinated with NAPAS and the inner city traffic operators in Ho Chi Minh City (express buses, urban buses …) to pilot the application of basic standards for domestic chip cards to deploy. Traffic payment solutions by using Vietbank NAPAS prepaid domestic card. The NAPAS side has now developed and issued a traffic payment transaction flow applied on the contactless domestic chip card standard, at the same time organizing the implementation with the contactless domestic chip card issuers to open. Wide set of customers who are able to make traffic payments. With the readiness of technical infrastructure, Vietbank will coordinate with NAPAS to be able to meet the requirements of developing contactless payment applications in public transport. This payment solution was also demonstrated at the Vietnam Card Day 2020 event (November 7-8, 2020 at Bach Khoa Stadium, Hanoi), organized by Napas in collaboration with Tien Phong Newspaper. content direction of the State Bank. The cooperation between VietBank and Napas contributes to the realization of the SBV’s goal of converting magnetic cards to chip cards and at the same time developing payment products applying VCCS chip technology. Source: https://thitruongtaichinhtiente.vn/napas-va-vietbank-ra-mat-the-tra-truoc-noi-dia-co-tinh-nang-thanh-toan-khong-tiep-xuc-trong-giao- thong-32425.html