AppotaPay could be the 39th payment that is licensed services product authorized by their state Bank of Vietnam
HANOI, Vietnam , /PRNewswire/ — In October, their state Bank of Vietnam issued the re re payment intermediary services permit to AppotaPay, a subsidiary of Appota Group which includes a 55-million-user base and focuses on electronic activity in Vietnam .
E-payment emerges in Vietnam despite the Covid-19 pandemic
In the 1st 6 months, Vietnam saw significant development in the technology industry despite struggling with the Covid-19 pandemic. E-payment, become exact, is just one of the companies that skyrocketed in those times.
By having a population of 97 million individuals, Vietnam has a penetration that is internet of 70%, and 34% of those are attached to the world wide web via mobile. Therefore, Vietnam is recognized as a higher market that is potential the growth of e-commerce and e-payment sectors. In line with the e-payment report Landscape, “ income through the e-payment market in Vietnam expanded 14,2%, reaching total income of 8.904 million USD . The amount of users additionally reached 36.2 million individuals, and went up by 12.1per cent contrasted.“
AppotaPay could be the 39th non-bank company that has gotten the re payment intermediary services permit through the State Bank of Vietnam . To be able to get this permit, companies need certainly to fulfill strict needs, including a charter that is minimum of VND50 billion , high technical infrastructure and technological solutions that ensure absolutely safe and constant solutions, in addition to properbusiness strategy and business framework that facilitate the operating associated with re re payment company . Licensed solutions consist of e-wallet, electronic payment gateway, and money collection & re payment on the part of users
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