Oct. 24, 2011
NTT DATA CORPORATION
NTT DATA CORPORATION on October 11, 2011 acquired 40% of VietUnion Online Services Corporation (Chairperson: Dang Thi Hoang Phuong, General Director: Nguyen Hoang Ly, Head Office: Ho Chi Min, Vietnam, hereafter VietUnion), a subsidiary of the Siagon Investment Group (hereafter, SGI Group) in a capital tie-up venture.
The tie-up gives NTT DATA a secure foothold in the Vietnamese card and payment business, as it aims to merge the solutions and know-how in the card and payment field obtained with projects such as CAFIS®, with the strong customer base that SGI is renowned for and the infrastructure for electronic payment services of VietUnion. This will allow NTT DATA to offer a number of advanced and competitive electronic payment services in the growing Vietnamese market, and further expand its card and payment business in Vietnam and the APAC region.
NTT DATA GROUP has set targets for overseas sales at 300 billion yen and the ratio of overseas sales at 20% for the March 2013 quarter as part of its medium term management plan, and is actively working to expand its presence overseas. The group has focused on expanding one of its core businesses, the card and payment field, chiefly within the much anticipated APAC region.
The central government and state bank of Vietnam have been increasing efforts on implementing policies and the infrastructure required for utilizing and increasing the use of non-cash payment systems. An extensive electronic payment network and systems have been planned and slated for upgrades, particularly for the payment of public utilities such as electricity, water and communications, public services such as buses and gasoline, encouraging non-cash payments for tax collections, promotional and rewards programs for using cards for shopping, electronic banking over the internet and mobile devices, and the increase and implementation of electronic payment services. The card and payment business is now considered a major growth market.
NTT DATA has entered into a capital tie-up with VietUnion as a means of establishing a secure foothold in the Vietnamese card and payment business and to expand business in Vietnam and the APAC region.
About the SGI Group and VietUnion
The SGI Group owns a communication company and financial institutions in Vietnam, and has established a solid customer base there. The company is also investing in social and lifestyle infrastructure, as it is involved in real estate development projects in industrial areas and offices, and is planning further real estate development projects that include commercial facilities into the future.
VietUnion, a subsidiary of the SGI Group, is an independent company that provides various payment businesses for public utilities in Vietnam, and has the largest share of users in the market for e-wallet services. In addition to online payment services, VietUnion is focusing on services for payments of public utilities and public services, as well as investing in card payment services for shopping as a means of expanding business and developing a non-cash payment society in Vietnam into the future.
The combination of NTT DATA’s IT solutions, the electronic payment platform that VietUnion has already developed, and SGI’s customer base is expected to lead to a business synergy for expanding business in the card and payment industry in Vietnam, by developing a payment system for public utilities and public services, and creating the framework needed for a card payment system.
Overview of VietUnion
|(1) Trading Name||
VietUnion Online Services Corporation
|(2) Head Office||
65-65A 3/2 street, W.11, D.10, Ho Chi Minh City, Vietnam
150 billion Vietnamese Dong (approximately 600 million yen)
Chairperson: Dang Thi Hoang Phuong (SGI CEO), General Director: Nguyen Hoang Ly
|(6) No. of Employees||
|(7) Business Details||
Provision of electronic payment services including e-wallet services and various payment services for public utilities
- *“CAFIS” is a registered trademark of NTT DATA in Japan.
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NTT DATA CORPORATION
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