VIMO First in Vietnam to Provide International Payment Service With WeChat for Chinese Tourists
(6 months ago)
HANOI, Vietnam: On November 13, 2017, VIMO.vn E-Wallet announces to be the first intermediary payment unit that allows Chinese travelers to use WeChat Pay (Weixin Pay) e-wallets to make payments in VND at VIMO accepting shops and stores when traveling to Vietnam.
Stores in Vietnam can install the "VIMO Merchant" application from the phone or tablet download store and then register a bank account to receive sales revenue at https://merchant.vimo.vn. When Chinese tourists pay for the purchase, the seller enters the order information and the payment amount in VND to generate a QR code. Then the tourists use the WeChat Pay e-wallet installed on their phone to scan the QR code of the seller to complete the cashless payment transaction within seconds, the store receives the payment amount to the bank account in Vietnam within 2 working days at the latest.
In addition, WeChat Pay suggests Chinese travelers shops and stores accepting VIMO Merchant Payments around them; which can help to increase sales revenue for local businesses. For Chinese travelers, this service can replace conveniently the use of bank cards with a mobile phone, allowing them to travel and shop cashless in Vietnam.
It is well-known that WeChat Pay and Alipay are the two e-wallets which are dominating the e-payment arena in China with 20-time more powerful growth in 4 years, reaching nearly USD 2,000 billion of trading volume in 2016 with a total of approximately 1 billion regular users. Almost all activities in society such as dining, shopping, and entertaining at the shops, shopping centers, and tourist destinations can be paid by scanning QR codes through the WeChat Pay and Alipay payment applications on mobile phones. Following the wave of Chinese tourists traveling abroad in recent years, WeChat Pay and Alipay are also competing aggressively to expand their payment acceptance networks for travelers in Europe and Southeast Asia nations.
Mr. Do Cong Dien, General Director of VIMO.vn, stated: "Vietnam is one of the most attractive destinations to the Chinese tourists in the region. It is estimated that the influx of Chinese tourists will reach 3.5 million people and bring in revenue close to USD 3 billion in 2017. Therefore, after a period of inquiry and negotiation, in early June 2017, VIMO signed an e-payment agreement and connection with Tenpay Payment Technology - the owner unit of WeChat Pay with the aim of bringing convenience to Chinese tourists as well as increasing tourism revenue for Vietnam." He added, "Additionally, VIMO is now expanding its cooperation with a number of overseas partners originating from countries which have a huge percentage of tourists coming to Vietnam every year, such as Korea, etc."
After 6 months of testing, VIMO.vn has deployed nearly 500 shops accepting QR Code payments via WeChat Pay, of which more than 50 stores belong to 7 corporations in 5 international airports which have direct flights from China. Mr. Nguyen Quang Tuan, Deputy General Director of Song Viet Group, one of the leading companies in the field of non-aviation services in most domestic and international airports in Vietnam, said: "After our pilot deployment of VIMO Merchant in some stores at international airports, sales volumes generated from Chinese visitors have grown several times in just a few months. Based on that achievement, we will be implementing VIMO Merchant extensively at all Song Viet stores nationwide before the holiday at the end of 2017 and early 2018."