123Pay is an online payment gateway of ZION Joint Stock Company under Vinagame Group, with the purpose of providing a fast, convenient, and safe payment solution for businesses in Vietnam. The role of 123Pay will be as a big bridge, used to meet all transaction – payment needs of all consumers, businesses, suppliers, and banks.

I. OVERVIEW:

Connected with many domestic banks, 123Pay has opened a variety of payment methods such as ATM, Visa, MasterCard, JCB and even Internet Banking to bring convenience, safety, fast and professional way for users and businesses to buy and sell goods online. With all these payment methods, customers and businesses will not have to worry about geographical distance as well as time to disrupt or obstruct their transactions and payments.

In addition to providing businesses with a reliable payment solution, 123Pay also provides a great opportunity for partners – businesses can promote the brand as well as find large customers with over 50 Millions of users are using a lot of VNG products such as Zing Me, Zing MP3, Zing News, Zalo Page, and more than 30 online games.

FEATURE AND CHARACTERISTIC:

• SIMPLE: Some businesses using 123Pay as a payment gateway will be a simple, easy to use, intuitive and secure payment method for customers in just 3 steps: Enter card information; Verify information, Pay (Pay) and get the results right away.
• SAFE: 123Pay online payment gateway has met the Data Safety Standards (PCI DSS) of Vietnam. This standard was created by the Security Standard Council for payment cards, including members currently very popular such as Visa, MasterCard, American Express (AMEX), Discover Financial. Services, JCB International. PCI DSS sets standards for security, policies, procedures, network structure, software systems, and a number of other factors. These standards guide banks and businesses on payment to ensure the security of payment card data. As a result, businesses will limit security holes and the risk of information theft; At the same time, enhance the data saved on the card. In addition, 123Pay is certified by Verisign, this will ensure 123Pay’s customers to avoid potential threats such as account information theft, identity theft, and online financial fraud. 123Pay also has a fake alert system based on data analysis of user habits, fake characteristics combined with solutions of organizations specializing in preventing online fraud transactions. And it is also committed to protecting its business against online fraud.
• CONVENIENCE: 123Pay has signed and linked with many large banks in Vietnam such as Vietcombank, DongA Bank, Vietinbank, Techcombank, Agribank, BIDV … to bring its partners a wide variety of quick and single payment solutions. the easiest.
• 24/7 SUPPORT: 123Pay is committed to providing its partners with the best, fastest, anytime, anywhere support service with a variety of support types from online to physical points such as: Online Support (Online Support) ), Live Chat, Call Center 1900 545 436 (fee of VND 1,000 / minute), Support Center. In addition, during the operation of the 123Pay payment gateway when its partner encounters technical issues that need support, 123Pay’s SDK team is available 24/7 to ready to support and serve partners to fix. overcome technical difficulties arising, ensure the most convenient transaction – payment process.

II. BUSINESS OPERATION:

In 2007, the State Bank began to pilot pilot payment services, the new concept of “electronic wallet” became popular. At that time, there were only 9 pilot licensing units including Mobivi, Payoo, VNPay, VinaPay, Smartlink, M_Service, VNPT EPay, Ngan Luong and ECPay.

By the end of 2015, the State Bank officially licensed intermediary payment services for businesses . Up to now, there have been 16 officially licensed units such as BanknetVN, VNPay, Payoo, ECPay, Vimo, 123Pay, Momo … Each unit is allowed to provide one or more services in the intermediary payment market. . And also from this point, the market began to be more active. After many years of service piloting, up to now, the segments have been clearly shaped, each payment intermediary has gradually oriented their specific customer groups with specific characteristics and advantages. According to the information in Tuoi Tre newspaper, in 2016, the State Bank of Vietnam officially granted license No. 19 / GP-NHNN for payment gateway 123Pay of ZION Co., Ltd. with 100% investment from Joint Stock Company. Part VNG with the provision of intermediary payment services.

As BanknetVN (new name is NAPAS) is the only unit licensed to provide electronic clearing and switching services. VNPay focuses on banking services. Payoo focuses on bill payment services such as electricity, water, telephone, television, Internet, credit card, insurance and multi-channel expansion, including retail systems … Mobivi with iCare service allow customers to buy installments; ECPay again chose to focus on developing electricity bill payment services. MoMo with money transfer and payment services on mobile to focus on customers in rural areas. While wallets like 123Pay are aimed at serving e-commerce, digital content businesses or gaming service communities, which are strengths of each company.

123Pay is an online payment intermediary service, which supports collection and payment and is allowed to deploy e-wallet services. With the license, 123Pay pledges to comply with State regulations such as:

• Provisions on non-cash payments under Decree No. 101/2012 / ND-CP
• The State Bank’s regulations provide intermediary payment services under Circular No. 39/2014 / TT-NHNN
• The State Bank’s regulations stipulate technical requirements on security and confidentiality for equipment serving bank card payment according to Circular No. 47/2014 / TT-NHNN

During the testing period, 123Pay has more than 200 partners who are large enterprises such as Lazada, Vietravel, The Gioi Di Dong, Nguyen Kim Electronics Supermarket, Dien May Xanh, Galaxy Cinema … at the same time, 123Py has dozens of million customers use. Not only that, Payment Gateway 123Pay is also a partner of most domestic banks such as VietinBank, Vietcombank, BIDV, Eximbank, Dong A … to create favorable conditions for online payment.

With the advantages of technology and technology, young customers, reliable partners, 123Pay is an important bridge between customers and businesses, between businesses and businesses.

Since being licensed to operate, 123Pay has been actively involved in shopping events, strengthening cooperation with MasterCard, Lazada, Galaxy, Vietravel, Thegioididong, 123Phim … Since then contributing to increasing sales for businesses and giving customers many opportunities for cheap shopping.

The officially licensed license opens a new turning point whereby 123Pay will be invested more strongly in finance, human resources and infrastructure. Skill. In the coming time, 123Pay will focus on developing e-wallet services and payment services for consumers on the 123Pay app. In parallel, 123Pay continues to promote customer care activities and major promotions for online consumers, so that Payment gateway 123Pay has contributed to changing the habit of not spending money on consumers, while promoting the development of e-commerce in our country.

III. ACHIEVEMENT:

E-commerce revenue through 123Pay payment gateway in the year 2015 reached VND 850 billion, 2016 growth of 60% compared to 2015 reached nearly VND 2,000 billion. At the same time, payment gateway 123Pay also has comprehensive links with reputable banks and large-scale domestic banks such as Vietcombank, Vietinbank, BIDV, Sacombank …

In 2016, ZION ( the headquarters of 123Pay ) received the PCI-DSS (Payment Card Industry Data Security Standard) security certificate issued by the US-based Control Case company. It is the world’s largest provider of security testing, monitoring, evaluation, and certification services.

From the results achieved and the upcoming comprehensive service development plan, 123Pay is contributing to building a cashless spending habit in Vietnam, in line with the Government’s orientation, as well as promoting the development of domestic e-commerce.