VNPAY clinches two titles at the 2025 ABF FinTech Awards

VNPAY received the Blockchain Innovation Award and the Ecosystem Collaboration Award at the event in Singapore on July 8.

The Blockchain Innovation Award was in recognition of VNPAY’s successful implementation of innovative technology in its VNPAY app. By integrating blockchain technology, the app significantly improves security and transparency in financial transactions, thereby delivering a safe, and reliable payment experience to millions of users.

Each transaction on the VNPAY app is encrypted and recorded immutably thanks to blockchain, minimising the risks of fraud or third-party intervention. User data, transaction information, and spending history are stored in a decentralised manner, ensuring top-level security while maintaining transparency and traceability when needed.

Alongside the payment applications for end users, VNPAY also applies blockchain technology to integrated solutions with banks, payment acceptance units, and associated parties in the ecosystem. This is a rare step in Vietnam, demonstrating innovative thinking in applying core technology into practice.

The Ecosystem Collaboration Award reflects VNPAY's broad vision when fintech is no longer just a payment tool, but a gateway connecting digital users to all aspects of everyday life.

VNPAY has built an open platform, connecting hundreds of partners across sectors such as transportation, travel, entertainment, e-commerce, healthcare, insurance, education, and public services. This enables the app to deliver a wide range of services while fostering an interactive ecosystem where users, businesses, and financial institutions can engage and co-create values.

In particular, by diversifying payment methods from e-wallets to bank accounts, domestic/international cards, Apple Pay, and short-term financing, VNPAY can expand its user base and build a flexible and comprehensive payment space beyond traditional customer segments.

The ABF FinTech Awards, organised by Singapore’s Charlton Media Group, are among Asia’s most prestigious recognitions in the fintech sector. The six-month evaluation process is led by a panel of banking and finance experts from across the region, including Singapore, South Korea, Japan, Australia, and Hong Kong.

Winning two major awards at this year’s event highlights the growing competitiveness of Vietnamese businesses in core technologies – traditionally seen as the domain of regional powerhouses like Singapore and South Korea.

Nguyen Thi Thu Huong, a representative of VNPAY said, "We haven't just built an app – we have created a platform that lives alongside users, understands their needs, and evolves with the pace of modern life. These two awards are a powerful motivation for us to keep investing, innovating, and delivering real value to our users. It’s also a solid step forward in our journey to expand regionally and contribute to the rise of Vietnam’s fintech sector."

Vietnam's digital banking sector continues to gain momentum in 2025, driven by rapid adoption of AI, the race to profitability, and fierce competition.

VNPAY has become the first company in Vietnam, and the 26th globally, to achieve MPoC (Mobile Payments on Commercial Off-The-Shelf) security certification, the latest international standard for mobile payments, for its PhonePOS payment solution.