VNPAY has become the first company in Vietnam and the 26th globally to achieve the MPoC security certification — the latest international standard for mobile payments. This is a significant milestone in bringing cashless payments closer to the public, from small businesses to large enterprises.
MPoC (Mobile Payments on Commercial Off-The-Shelf) is a standard issued by the Payment Card Industry Security Standards Council (PCI SSC), setting strict requirements for contactless payment solutions using smart mobile devices.
Unlike previous standards that applied only to specialized devices, MPoC extends security coverage to mobile devices. This means users can enter their PIN and complete contactless payments directly on their smartphones without needing physical POS machines, providing a flexible and user-friendly way to access modern payment technology.
To achieve MPoC certification, a payment solution must meet over 190 technical requirements related to security, monitoring, and system operation. This includes end-to-end data encryption, attack detection, regular security checks, and ensuring safety throughout the installation, use, and software update process.
According to an official announcement from the PCI SSC, VNPAY is the first Vietnamese representative to earn MPoC certification with its mobile payment solution, VNPAY PhonePOS.
When a Vietnamese fintech company is recognized alongside industry giants like Apple, Visa, and Mastercard, it is a testament to its technical capabilities, showing that Vietnamese technology is approaching the highest international standards in digital finance.
Notably, MPoC is not just a "technical passport" but a gateway for certified businesses to expand partnerships, as most international payment systems prioritize security compliance.
As Vietnam accelerates integration and builds a modern national payment infrastructure, a local company achieving MPoC certification is seen as a positive signal.
VNPAY's PhonePOS solution has already been deployed at over 10,000 businesses and continues to be enhanced for security after obtaining the MPoC certification. Instead of investing in costly dedicated POS devices, businesses can now accept card payments using just an Android smartphone with NFC support.
Customers make payments via VNPAY PhonePOS while shopping.
Integrated within the VNPAY Merchant app, PhonePOS enables quick payments with a tap, supporting a wide range of contactless payment methods such as Visa, Master, JCB, Napas, and payments through Samsung Pay, Google Pay, or Apple Pay. This solution is particularly suitable for small businesses like restaurants, coffee shops, retail stores, or even shippers needing a flexible payment tool while ensuring data security.
In addition to payment acceptance, PhonePOS offers an intuitive transaction reporting system, helping sellers monitor cash flow, control revenue, and optimize business operations.
EXPANDING CASHLESS PAYMENT OPPORTUNITIES TO EVERY CORNER
According to data from the State Bank of Vietnam, 2024 saw a 53% increase in cashless transactions compared to the same period last year. In this context, solutions meeting international standards like MPoC are expected to drive the widespread adoption of digital payments, not only in urban areas but also in remote regions.
PhonePOS is an example of how technology can be deployed flexibly and cost-effectively while maintaining security and user-friendliness. This approach aligns with Vietnam's comprehensive digitalization strategy in the finance and banking sector and its push for cashless payments.
Ms. Nguyễn Ánh Tuyết, Deputy General Director of VNPAY, stated: "The MPoC certification affirms that VNPAY’s solutions meet the most stringent security requirements today. We will continue to focus on developing flexible, easy-to-deploy payment solutions that comply with international standards, promoting broader adoption of cashless payments nationwide."
Source: VnEconomy
