Cooperating with VNPAY to deploy VNPAY-QR code scanning payment, the enterprise wants to perfect the digital payment experience for users, while at the same time, optimizing the operating process.
The signing ceremony of the cooperation agreement between the two parties took place on the morning of July 5. The two parties will deploy a cashless payment solution by scanning the VNPAY-QR code for customers using the BEST Express express delivery service nationwide.
Specifically, each COD order (collect on delivery order) will have a unique VNPAY-QR code created, integrated directly into the shipper's delivery application. The collected COD amount will be transferred directly to the BEST Express financial system. The entire process is automatically recorded by the system and updated in real time, the automatic reconciliation system records and controls accurate payment data, thereby minimizing the risk of cash loss.
Mr. Devin Fan - General Director of BEST Express Vietnam and Mr. Ngo Anh Tuan, Director of VNPAY-QR signed the cooperation agreement. Photo: Giang Huy
This payment solution was piloted from June 19 to June 30. According to a VNPAY representative, the conversion rate from traditional payments to VNPAY-QR payments reached 63%, with no transactions encountering any problems.
To achieve this result, VNPAY's technical team worked day and night, through Tet, connecting the API with BEST's system at the headquarters (China) to complete the connection between the two sides.
Sharing about the cooperation process, Mr. Ngo Anh Tuan, Director of VNPAY-QR said that in the market, there has never been a similar cooperation precedent between a logistics unit and a payment solution provider, so technology experts from VNPAY have researched to find a suitable solution associated with the partner's ecosystem, helping the payment flow to be superior and smooth for both customers and delivery people.
"Providing additional digital payment solutions helps BEST Express optimize workflow and operating procedures for staff and delivery people in the system. Thereby, helping to retain customers and build a modern, loyal customer base," Mr. Tuan added.
Representatives of both sides expect favorable cooperation to be a stepping stone for both units in the future. Photo: Giang Huy
In July, this payment solution will be applied synchronously across the system of nearly 650 BEST Express post offices nationwide. The function of synchronizing payment information between the ERP system (enterprise management) and VNPAY-QR helps shorten transaction time, minimize operating personnel costs and errors in data processing. At the same time, limiting cash transactions helps the operating departments of the BEST Express system, from the finance - accounting department to the post office and delivery shipper, limit risks that may arise during the process of collecting and storing cash every day, especially on weekends or long holidays.
Speaking at the event, Mr. Devin Fan - General Director of BEST Express Vietnam said that the cooperation helps both sides reach each other's large customer base, thereby supporting the development of the logistics industry as well as promoting the trend of cashless payments in Vietnam. This is also part of a series of projects to improve user experience when using the service that the unit has deployed this year.
"In the coming time, the two sides will promote cashless payments across the entire system, supporting shippers and post offices to pay collection fees more easily while increasing COD reconciliation efficiency, helping online shops receive money on the same day," added Mr. Devin Fan.
Customers pay for BEST Express delivery fees by scanning the VNPAY-QR code. Photo: BEST Express
VNPAY-QR payment is integrated into the Mobile Banking application of more than 32 banks and 15 e-wallets. The unit invests significantly in platform technology, payment and service commerce with the core goal of connecting banks, businesses and customers, notably building a network of businesses accepting VNPAY-QR payment. This form of payment is available at more than 250,000 payment acceptance points, spanning many industries. This payment method is used by more than 30 million users.
BEST Inc. (NYSE: BEST) was founded in 2007 and is a smart supply chain solution and logistics service provider in China and Southeast Asia. BEST Inc. is constantly building a B2B2C and cross-border network between China, Southeast Asia and North America to provide global supply chain services to customers.
In 2019, the group entered the Vietnamese market, introducing the BEST Express Express Delivery service, the Post Office Franchise business model, the BEST Cross-border Shipping Service and SaaS cross-border sales management solutions. After nearly 4 years, the unit has 36 automatic sorting centers nationwide. The order processing capacity reaches 2.2 million orders per day.
Huyen Anh
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