VNPAY PhonePOS empowers small merchants to 'go cashless'

Due to the high costs of investment, operation, and maintenance of traditional point of sale (POS) devices, many small household businesses, especially in suburban and rural areas, lack access to modern payment technology. This has widened the already stark digital divide between tech-ready urban centres and infrastructure-limited rural regions – home to Vietnam's four million daily-operating microbusinesses.

With the emergence of the VNPAY PhonePOS solution, the landscape is changing. With an Android smartphone equipped with NFC support, sellers can accept cards such as Visa, Mastercard, JCB, and Napas, alongside international e-wallets like Apple Pay and Google Pay, rather than investing in expensive specialised devices.

This solution opens up the possibility of flexible and cost-efficient card payments. It is suitable for the small retail models that lack the ability to invest in technology. PhonePOS also provides a real-time transaction reporting system, helping sellers track revenue, control cash flow, and manage transaction history on their phones. For businesses without accounting software, this is a simple but effective operating tool that streamlines business activities.

According to a report by the State Bank of Vietnam, the number of cashless transactions in Vietnam last year rose 53 per cent compared to 2023. This is an impressive figure, but it has yet to reflect the potential of the fragmented retail market.

Tran Tri Manh, chairman,VNPAY

Tran Tri Manh, chairman of VNPAY, said, "To accelerate the progress, solutions are needed to encourage the adoption of technology. These solutions should be easy to deploy, cost little, and offer security to small merchants. VNPAY PhonePOS meets all of these factors while integrating into VNPAY Merchant."

Such payment solutions, which are popular in shopping malls, are now penetrating these localities, opening up business opportunities for millions of small business households nationwide.

"Digital payment methods are being increasingly adopted in rural areas, which are home to over 60 per cent of the country’s population. From rural markets to highway stops and speciality vendors, cashless transactions can be done safely and quickly," Manh added.

At the same time, PhonePOS is also expanding its services in the tourism sector, which is on an upward trend. Many tourist hotspots like Hoi An, Sapa, Ha Giang, Mai Chau, Moc Chau, and Phu Quoc are welcoming increasing numbers of international tourists, and where the acceptance of international payment cards is no longer a problem. Businesses from homestays to souvenir shops and roadside eateries can now easily access new sources of revenue with just a smartphone.

Technology is only truly valuable when it reaches the masses. In that context, VNPAY PhonePOS helps reduce costs while acting as a bridge between small household businesses and global financial flows. A future where anyone, anywhere in Vietnam, can participate in the digital economy is gradually becoming a reality.

VNPAY has achieved Payment Card Industry Data Security Standard (PCI DSS) Level 1 international security certificate from ControlCase after meeting stringent information security and data management requirements.

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.