Vietnam pushes transparent digital payments as SacomBank enables phone‑based Visa acceptance

Vietnam’s consumer protection law of 2023 requires that digital platforms disclose any additional services—such as travel insurance, priority support or other add‑ons—clearly on invoices and transaction screens. Regulators have warned that many users only discover hidden fees after payment, highlighting the need for full information to ensure genuine choice.

In line with the digital shift, SacomBank has added a “Accept Visa Card” feature to its SACOMBANK PAY app. The tool lets small merchants use a smartphone to receive Visa card payments: Android users tap the card on the phone, while iOS users can pay via QR code or emailed link. The solution eliminates the need for separate POS hardware, provides real‑time settlement to the seller’s account, and broadens cash‑less options for micro‑businesses.

The combined focus on clearer service disclosure and easier, low‑cost payment methods aims to create a more transparent and inclusive digital economy for Vietnamese consumers and small enterprises.