Samsung, Shinhan Bank team up to provide digital payment solutions in Vietnam

Samsung Vina Electronics signed a memorandum of understanding (MoU) with Shinhan Bank Vietnam on Wednesday to establish a strategic relationship between Samsung Wallet and financial products from Shinhan Bank.

By connecting API from Shinhan SOL Vietnam, Shinhan Bank's mobile banking application can automatically integrate cards via the Samsung Wallet application with just one touch, and supports the integration of cards dedicated to specialized services (BEAMIN, KOREAN AIR, LOTTE VISA Card) and student cards.

Sharing the same vision of creating a seamless and secure digital payment ecosystem, the strategic signing event “Luu tru an toan – Thanh toan de dang” (Safe storage - Quick paycheck) by Samsung Wallet and Shinhan Bank will serve as a foundation to accelerate a convenient and comfortable lifestyle for both Galaxy users and Shinhan customers within the scenario of mobile payment making its way into all activities.

"In the context of the market's digital transformation, I am confident that the collaboration between Shinhan Bank and Samsung will leverage both companies' strengths to create an integrated digital payment platform more suitable and comprehensive for Vietnamese consumers," said Lee Chung Lyong, Samsung Vina Electronics president.

As mobile technology continues to evolve and shape customers’ daily lives, especially at a time when the digital transformation process is accelerating in big cities, it is crucial to provide consumers with innovative and secure financial solutions. Consequently, Samsung Wallet and Shinhan Bank are committed to leading this evolution and empowering Vietnamese consumers with the tools they need to embrace a digital-first lifestyle.

The partnership will enable Galaxy users to seamlessly connect their Shinhan Bank cards to Samsung Wallet, allowing them to make fast and secure payments using their smartphones. With Samsung's cutting-edge management and security platforms, this collaboration will offer a convenient, confident and reassured feeling to customers getting used to using mobile payments for daily activities.

This connection also opens up new opportunities for Galaxy smartphone owners to meet their digital lifestyles. Users will benefit from Samsung's wide ecosystem after special offers from Shinhan Bank for Korean companies' products and services in Vietnam are integrated and managed directly in the Samsung Wallet. Users can rest easy thanks to Knox Guard's mobile payment method with top security.

"We firmly believe that our collaboration with Samsung Wallet will be instrumental in accelerating Vietnam's digital transformation process through secure mobile payments. By combining Shinhan Bank’s financial expertise with Samsung's security performance, we are confident that we can make mobile payments the preferred mode of payment for every Vietnamese citizen," Kang GewWon, Shinhan Bank general director, stated.

The widespread adoption of mobile payments through Samsung Wallet on Galaxy smart devices will support the development of Vietnam’s digital economy and lifestyle.

By taking advantage of the Galaxy ecosystem, user’s reliance on cash will fall as they secure transactions using Samsung Wallet. This will allow Vietnam to promote financial inclusion, increase transparency and accelerate economic growth. The partnership between Samsung Wallet and Shinhan Bank is a strategic movement that aligns with the Vietnam government's strategy while also supporting digital transformation across the country.