FPT is licensed to provide intermediate payment services

On May 07, Mr. Bui Quang Tien, director of the payment department at the State Bank of Vietnam (SBV), granted the intermediate payment services license to V-FPT, a joint venture between FPT and the group's online shopping unit, Sendo.vn.

The intermediate payment services licensed include payment gateway, e-wallet and collection & payment.

The service provides an easy and reliable way to pay monthly bills and make e-shopping purchases. FPT Wallet plans to test the new service with existing clients of FPT group, including corporate partners and customers of Sendo.vn.

In addition, Sendo and V-FPT will cooperate to provide payment services on mobile phones for customers. In the near future, customers using products or services by FPT as Internet, Fshare, online advertising etc. can also use these services.

V-FPT will process transactions the day after customers receive their items satisfactorily. Customers can also get refunds if sellers provide the wrong products.

According to Tran Hai Linh, chief executive of FPT Wallet, Vietnamese e-shoppers usually pay bills of not more than VND 1 million online. They still prefer to pay cash for larger amounts because of the risk of losing money if purchases go wrong. Online payments at Sendo.vn are expected to rise 30-40% each year with the e-wallet services becoming available, according to Tran Hai Linh.

V-FPT is the 16th intermediate payment business licensed in Vietnam.