On October 14, 2024, at the headquarters of the State Bank of Vietnam (SBV), Deputy Governor Pham Tien Dzung had a meeting with Mr. Dong Junfeng, Chairman of UnionPay International (UPI), a subsidiary of China UnionPay.
At the meeting, the SBV Deputy Governor made high compliments and congratulated Mr. Dong Junfeng on the positive business results of UPI globally and regionally. Deputy Governor Pham Tien Dzung also discussed the connection models through switching companies with the Chairman of UPI , and emphasized the benefits and the convenience that these models can bring to the authorities, the management bodies, the commercial banks, as well as the service users.
Deputy Governor Pham Tien Dzung speaks at the meeting
For his part, the UPI Chairman briefed the host of the operational situation and the orientations of UPI in Vietnam. He said that, with the presence of its representative offices and branches in 44 nations, UPI has provided services to 183 nations and territories, and issued a large number of UnionPay cards around the world.
Chairman of UPI speaks at the meeting
Regarding the potential for the bilateral QR payment, the Chairman of UPI asserted that, in the coming time, on the basis of the MoU signed with the NAPAS on October 13, 2024, UPI would proactively coordinate with the relevant parties to study, analyze and formulate specific contents for the report, in line with the directions of the senior leaders of the two countries and the two central banks regarding the cooperation orientations in this sector.
An overview of the meeting
Emphasizing the strengths of UPI in both technical side and international experience, Deputy Governor Pham Tien Dzung requested for UPI’s support by sharing its experience in digital transformation and cashless payment with NAPAS and other relevant parties in Vietnam.
Le Hang