UnionPay card and OnePAY JSC have successfully applied technical solutions to enable online payments for UnionPay cards in Vietnam. This is the fifth card which can be used to pay for online transactions in Vietnam.
Vietnam’s e-commerce was marked to launch online payments in 2007 by E-ticket services of Pacific Airlines (Jetstar Pacific now). So far, online payment has been accepted by more than 500 merchants with four international cards: Visa, Master Card, Amex and JCB.
The total value of online transactions by international cards is over $10 million per month, but is accounted for only one per cent of the total activities of international payment cards in Vietnam, which reflects the potential of Vietnam’s e-commerce market.
UnionPay is a new brand in the international card market since 2002. After nearly 10 years of development, UnionPay, which has overcome VISA with regards to cards issued, has become the world leader with 29.2 per cent of number of bank cards globally. UnionPay has been present in Vietnam since 2005. Their cardholders can pay at most ATMs and approximately 30 per cent of the POS market.
As a leading company of card payments and electronic settlement transactions in Vietnam, OnePAY is the first partner which has been connected with Union Pay in order to launch the online payment services for these cardholders.
By starting this co-operation, all merchants who are using products and services of OnePAY can now accept payments and provide services to more than 2.8 billion UnionPay cardholders worldwide. In the first period, the online payment function will be available for UnionPay cardholders in China mainland. This service is officially going to be launched on May 30, 2012.
UnionPay cardholder can make payment at Jetstar.com, Airmekong.com.vn and more than 500 merchants of OnePAY.