National Payment Corporation of Vietnam (NAPAS) risk score

Founded in 2004 as Vietnam National Financial Switching JSC and rebranded in 2016 as the National Payment Corporation of Vietnam (NAPAS), this company is pivotal in modernizing and facilitating electronic payments in Vietnam. Operating under the rigorous oversight of the State Bank of Vietnam, NAPAS enjoys the distinction of being the nation's premier intermediary payment service provider licensed to deliver switching, and electronic clearing and settlement services. With headquarters strategically located at Pacific Place Building in Ha Noi, NAPAS is at the heart of Vietnam’s financial ecosystem.

NAPAS’s infrastructure is vast and robust, managing an inter-bank connection system that encompasses 16,800 ATMs and 220,000 POS terminals. This network supports 90 million domestic cards from 43 domestic and international banks operating within Vietnam. Additionally, NAPAS collaborates with over 200 e-commerce merchants across diverse sectors such as airlines, telecommunications, hotels, and tourism, thereby bolstering the country’s digital economy.

A significant responsibility of NAPAS is to spearhead the development and implementation of a standardized domestic chip card system, aiming to elevate the security and efficiency of retail payments across Vietnam. This initiative is part of a broader mandate by the State Bank of Vietnam to complete the retail payment infrastructure which also includes research and development of an Automated Clearing House (ACH) for retail transactions.

As a trusted entity, backed by the State Bank of Vietnam and major commercial banks, NAPAS is committed to driving forward the national agenda for a cashless society. This involves pioneering advanced solutions and strategic innovations tailored to enhance the payment landscape of Vietnam, making financial transactions more seamless and accessible to all stakeholders in the Vietnamese market.