ZaloPay wants to develop cross-border QR code scanning feature

According to Ms. Le Lan Chi, the current e-wallet market is not a story of suppliers competing with each other, this land is still very large for all parties to exploit, because the biggest competitor today is cash. Specifically, currently e-wallets have only exploited 15 - 20% of users, the remaining 80 - 85% of users still use traditional payment methods, which is using cash to pay for services.

Multi-function QR is expected by ZaloPay to create a "new breeze" in the cashless payment market in Vietnam.

QR technology is no longer new and is quite easy for technology companies to deploy. However, what makes ZaloPay different from other e-wallets/banking apps is its integration with Zalo - a popular chat application in Vietnam.

Banks currently only use QR as a form of payment. But with ZaloPay, thanks to the combination with Zalo, it is possible to identify customers (eKYC) and build a chat channel to connect with customers via Zalo conveniently and quickly.

In addition, ZaloPay also aims to deploy a cross-border QR code scanning feature in the future, targeting foreign tourists entering Vietnam. ZaloPay is currently researching and developing this feature. Accordingly, foreigners traveling in Vietnam can scan multi-purpose QR codes from ZaloPay, Ms. Lan Chi added.

However, ZaloPay also recognizes that the most "threatening" competitor is cash, as 80 - 85% of payments from many partners (merchants) using ZaloPay come from cash.

Explaining more about the multi-purpose QR, ZaloPay said that this is a product combining the QR code of ZaloPay and VietQR, users will be able to flexibly use any banking application or ZaloPay e-Wallet to scan the multi-purpose ZaloPay QR code. The entire process takes place on the same platform, providing a smooth and seamless experience for customers, helping to minimize errors and shorten transaction time.

As for retail businesses, multi-purpose QR codes from ZaloPay will help businesses overcome the difficulty of having to operate many separate management systems corresponding to different QR codes.

In Vietnam, ZaloPay (under Zion Joint Stock Company) is known as the leading e-wallet platform and online payment system today. Possessing the strength of integration into the Zalo messaging platform, ZaloPay strengthens connections and expands its partner network, thereby bringing superior and useful products, serving the maximum payment needs of both individual and corporate customers.

ZaloPay is also the pioneering Vietnamese e-wallet to cooperate with large, global partners such as Lazada, Grab Vietnam, ByteDance (TikTok's parent company) and Shopify to become an accepted payment method on these platforms. In just a short time, the total transaction value via ZaloPay on these platforms has increased hundreds of times, serving hundreds of thousands of users each month.

Source link: https://thanhnien.vn/zalopay-muon-phat-trien-tinh-nang-quet-ma-qr-xuyen-bien-gioi-185230808104353473.htm