VietUnion Joins NTT DATA Group
Jun. 23, 2016
NTT DATA Corporation
NTT DATA Corporation has made an agreement to take on VietUnion Online Services Corporation (General Director: Ngo Trung Linh; Head office: Ho Chi Minh City, Vietnam; hereinafter referred to as “VietUnion”) as a NTT DATA Group Company through its subsidiary NTT DATA Asia Pacific Pte. Ltd (President and CEO: Ryoji Fukaya; Head Office: Singapore; hereinafter referred to as “NDAP”). VietUnion, a pioneer as FinTech company in Vietnam, mainly provides payment services (bill payment) through its big chain retailers such as convenience stores.
Background & Objective
NTT DATA Group, as its mid-term management plan, has been expanding its businesses outside Japan in order to establish a global brand and to improve its local presence in other countries. Foreseeing potential growth, NTT DATA has expanded its business in payment areas primarily focusing on the APAC (Asia Pacific) region. Payment is one of the core business areas of NTT DATA.
Since 2011, NTT DATA has been investing in VietUnion - a group company of Saigon Construction Corp (SCC). VietUnion, a company trusted by the “Intermediary Payment Services License” issued by The State Bank of Vietnam, has been expanding its payment business primarily through “Payoo”. Payoo enables users to make different sorts of bill payments for almost all the big chain retailers, nearly 4,000 stores in total all over the country, such as convenience stores, ICT shops, shopping centers, and supermarkets. Payoo also makes it possible for its mobile application on smart phones and for charges via Internet banking provided by over 20 local banks. Boosting public consumption and convenience for consumers in terms of physical position of shops and time effectiveness in payment, this business has made rapid growth and already has reached a transaction volume of 1 billion USD per year. In addition, based on its advanced technological capabilities, VietUnion is also providing various software solutions such as a mobile POS system, smart-card solutions for transportation, location-based solutions for billers, and platforms for tuition fee management & collection for 1,700 schools in Ho Chi Minh city.
Partnered with SCC, NTT DATA committed to support VietUnion in strengthening its internal structure as well as establishing its position in the market in order to generalize non-cash payment in the country. Since NTT DATA has over 30 years of experience in the payment business in Japan’s domestic payment market and has been providing services mainly branded as “CAFIS”, its know-how, technology and management experiences will help VietUnion to expand their non-cash payment services and will contribute to the development of Vietnam’s payment infrastructure.
NTT DATA will introduce Payoo and other payment services to its customers in global EC and financial institutions in APAC regions through collaborations with other NTT DATA Group companies: iPay88 in Malaysia, NTT DATA Hong Kong, and NTT DATA Thailand. Moreover, by expanding not only its payment business but also other solutions for retail clients, NTT DATA aims to establish a global brand both in payment and retail fields.
VietUnion Corporation Outline
|(1) Company Name|
VietUnion Online Services Corporation
|(2) Head Office|
No. 9 Dinh Tien Hoang, Da Kao Ward, District 1, Ho Chi Minh City, Vietnam
189.28 billion VND (about 950 million yen)
Chairman: Akihiro Ishizuka
|(6) Number of staff|
Providing intermediary payment service (bill payment) for utility bills, installment payments & electronic payment for prepaid contents
For further information, please contact
Public Relations Department
NTT DATA Corporation
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