Sacombank and Alliex Vietnam JSC have signed a deal to create shared POS payment infrastructure that is integrated with many banks and allows many different payment methods.

Nguyen Minh Tam (L), Deputy CEO of Sacombank, and Heo Jung Wooc, Deputy Director of
Alliex Vietnam JSC, sign an agreement to deploy a shared POS infrastructure
system in the presence of a State Bank of Vietnam executive and
their subordinates.(Source: Photo courtesy of Sacombank)

Alliex will invest in shared POS infrastructure including servers, NAC/NCC, transmission lines, management software, and consumables.

It will develop and operate a network of POS processing terminals, and incorporate new features based on agreement with Sacombank.

Sacombank will be responsible for handling accounting operations such as credit advice to card accepting units, collecting fees, making statements, VAT invoices, and others.

Speaking at the signing ceremony, Nguyen Hoang Minh, Deputy Director of the State Bank of Vietnam’s Ho Chi Minh City Branch, said the implementation of non-cash payments will be an important task of the banking industry.

Cashless payments would bring great benefits to the banking industry, businesses and the public, he said.

“Sacombank is one of the leading players in technology and has undertaken many practical activities that effectively promote cashless payment activity.

“On behalf of the SBV, I appreciate and believe that the collaboration for deploying shared POS infrastructure will be a new step in Sacombank's operations and contributions to the banking industry.”

Nguyen Minh Tam, Deputy CEO of Sacombank, said: “Instead of each bank and each payment method using an independent device as they do now, the development of shared POS services will offer more convenience and contribute to promoting electronic payments in accordance with the Government’s scheme for developing non-cash payment in Vietnam in 2016 –20. This is also the goal Sacombank has been trying to achieve.

“Sacombank highly appreciates leading fintech solutions that Alliex has successfully offered in Japan, the Republic of Korea and Vietnam, especially technologies in the field of money transfer and online and offline payments.

“We believe Alliex is competent to provide Sacombank with advanced technology solutions through proven experience and investment in cashless payment infrastructure across Vietnam.

“At the same time we expect the project will help Sacombank reduce equipment costs, attract new customers and expand its customer base, including Korean businesses.”

Heo Jung Wooc, deputy director of Alliex Vietnam JSC, said: “With strong investment in advanced infrastructure and technology for shared POS systems, we are committed to helping Sacombank promote electronic payment in Vietnam.

“A shared POS system is the foundation of a cashless payment service and provides a solid infrastructure, effectively supporting banks, retail businesses and consumers in many commercial activities.

“Alliex will invest and develop a shared POS network at Vietnamese stores, operate a network of card accepting units, and incorporate new features in its advanced POS lines meeting regulations and customers’ tastes.”

Alliex has pledged to invest over 700 million USD in the next five years to develop the shared POS infrastructure in Vietnam, which will translate into a network of 600,000 card payment devices across the market.

Sacombank is one of the first two lenders in Vietnam to tie up with Alliex to deploy a shared POS infrastructure to promote non-cash payment.