Speaker: Nguyễn Quang Minh
Tile: Deputy CEO in charge of Research and Development
Organization: National Payment Corporation of Vietnam (NAPAS)
Developing card payment for diversification in Vietnam retail banking services
Starting his career in Vietnam Data – communication Company (VDC), Mr. Nguyen Quang Minh was appointed to be Chief of IT Management Division of VDC in August 2003. With considerable experience in the Information Technology sector, he contributed immensely to the establishment of VNPT Electronic Payment JSC., (VNPT EPAY) and was appointed to be the entity’s Managing Director in April 2008.
In December 2011, Mr. Minh was appointed as Deputy Director of Vietnam National Financial Switching JSC (Banknetvn) and later promoted to be the entity’s Managing Director in September 2013.
Since April 2015, he has been appointed as Deputy CEO of Vietnam National Financial Switching JSC (Banknetvn) as a result of the merger completion between Banknetvn and Smartlink, in charge of Research and Development. Banknetvn is the organization granted the License for financial switching and electronic clearing services in Vietnam. Since February 2016, Banknetvn has changed its entity name to National Payment Corporation of Vietnam (NAPAS).
Holding the position of Deputy CEO of NAPAS, he gained success in projects to build up an unique banks payment network across the nation, provide e-payment services, expand benefits to card holders and effectively encourage the development of non-cash payments in Vietnam as per the instructions of the Prime Minister and the State Bank of Vietnam.
Exemplary projects include:
–Project of connecting ATM/POS switching networks between Smartlink and Banknetvn;
–Project of acquiring the PCI DSS Certification for NAPAS;
–Project of building the Vietnam Chip Card Specifications.
The mentioned projects are vital in building a stable technical foundation for non-cash payments in Vietnam
Card payment has always been the most fundamental payment method, plays an important role in developing retail payment in particular and in non-cash payment in general. Over the past years, card payment growth has reached incredible numbers by the increase in number of cards, number and value of payment and the expansion of card payment infrastructures.
However, there exist some drawbacks: card payment volume is much less than that of cash withdrawal, payment technology falls behind with new trends in the world,…
As the national unified card switching center, NAPAS has developed payment infrastruc ture guaranteed to follow international security standards to support banks’products and services. Also, NAPAS constantly upgrades and updates novel payment technologies to catch up with global development and diversification trends. Developing new solutions and services ,NAPAS aims to contribute to card payment system in Vietnam, hence diversifying retail banking services.