Shinhan Bank expands POS business, collaborates with VNPAY to promote digital payments

Shinhan Bank Vietnam Limited is promoting the expansion of POS (point of sale) business, gradually affirming its position in Vietnam’s digital payment market.

Since the launching of its POS service in April 2025, the bank has accelerated network expansion of roughly 6,000 payment acceptance points nationwide, meeting the growing demands for cashless payment methods.

From, April 13, 2026, Shinhan Bank expected to further enhance payment capabilities by adding international card brands such as JCB and UnionPay International, alongside existing networks including Visa and Mastercard.

This expansion not only enhances convenience for customers, but also enables the bank to better access foreign customer groups, especially tourists and enterprises engaged in cross-border transactions.

On April 8, 2026, Shinhan Bank signed a strategic partnership agreement with Vietnam Payment Solution Joint Stock Company (VNPAY) to strengthen digital payment ecosystem and expand capabilities to provide POS service.

This cooperation marked an important stride in accompanying enterprises and household businesses to optimize sales processes and simultaneously simplify fulfillment of tax obligation through digital solutions.

Accordingly, VNPAY provides a comprehensive suite of solutions supported by advance technologies such as VNPAY-PhonePOS, VNPAY-SmartPOS and VNPAY-QR, encompassing not only digital payment solutions, but also digital tax payment services supported by a wide payment network nationwide.

Through this partnership, the two parties will leverage their respective strengths to deliver comprehensive payment solutions and enhance customer experience. Shinhan Bank contributes a solid financial foundation, international banking capabilities, and a global network, while VNPAY brings localized payment solutions and extensive coverage across payment acceptance points, creating a complementary and mutually beneficial collaboration model.

Ryu Je Eun, deputy general director of Shinhan Bank Vietnam, said: “Vietnam is witnessing a strong shift toward cashless payments, creating significant opportunities for the development of comprehensive digital financial solutions. Through our collaboration with VNPAY, we aim to combine the strengths of both organizations to build a seamless digital payment ecosystem, enhance customer experience, and contribute to the digital transformation of the economy.”

Nguyen Huu Phuc, deputy CEO of VNPAY, commented: “With our established technology platform, VNPAY and Shinhan Bank are delivering comprehensive digital solutions for both businesses and individual users. We aim to support merchants and enterprises in operating more efficiently, ensuring regulatory compliance, while providing smart and convenient payment experiences in everyday transactions.”

In the coming period, Shinhan Bank aims to further expand its POS network while accelerating th e adoption of digital payment methods, particularly within the small and medium-sized enterprise (SME) segment. The bank also plans to develop data-driven financial services and value-added solutions, moving toward becoming a comprehensive digital financial platform in Vietnam.

Shinhan Bank Vietnam Limited is a subsidiary of Shinhan Bank Korea, a member of Shinhan Financial Group (SFG). SFG is a leading financial group in South Korea, founded on the foundation of Shinhan Bank Korea, Shinhan Investment Corporation, and Shinhan Asset Management.

In Vietnam, Shinhan Bank’s history can be traced back to 1993 when Shinhan Bank first opened the representative office in Ho Chi Minh City. Over the history of 30 years, the bank has built a broad network expanding from the North, the Central and the South of Vietnam.

Currently, Shinhan Bank has been offering a diversified portfolio of tailored corporate and consumer banking products and solutions. Simultaneously, the bank has also strengthened digital transformation process by applying advanced technologies to products/services, in order to bring “More friendly, More secured and More creative” financial solutions to customers.