NAPAS

About

NAPAS (National Payment Corporation of Vietnam) is the Hanoi-based operator of Vietnam's national financial switching and electronic clearing system. It began as Banknetvn, whose establishment was approved in 2004, completed a merger with Smartlink Card Services in 2015 and took the NAPAS name in 2016, the same year the State Bank of Vietnam raised its holding to 49% of chartered capital. According to its website, its switching system connects more than 20,600 ATMs and about 741,000 POS and mPOS devices, serving 68 member banks and finance companies. Services include NAPAS domestic cards, NAPAS FastFund 247 with VietQR, an automated clearing house launched in 2020, a payment gateway, bill payment and e-wallet cash-in and cash-out. It is a member of the Asian Payment Network, and announcements on its site cover cross-border QR payment services with Singapore and South Korea.