News and resources on payments systems, innovations and initiatives worldwide.

Visa to open innovation space in Hanoi

Source: Visa

Visa, a world leader in digital payments, is proud to announce the opening of its Innovation Space at the groundbreaking National Innovation Center – Hoa Lac Hi-tech Park in Hanoi (NIC Hoa Lac).

Visa’s Innovation Space is part of the Innovation City experience area within the framework of Vietnam International Innovation Exhibition 2023 (VIIE). With a solid commitment to digital transformation, this initiative heralds a new era of innovation and economic growth for the country.

In the NIC, Visa’s Innovation Space will introduce innovative payment technologies and solutions, particularly in public transportation, home shopping and in-car shopping, and mixed reality shopping - a combination of online, offline, and virtual-reality retail experiences. Visa aims to enhance user convenience and support for small and medium-sized enterprises via IoT payments. According to the latest Visa Consumer Payment Attitudes Study1, four out of five Vietnamese are aware of the concept of using AR for retail shopping, and three in ten have used it. The Gen Z and Gen X segments have the highest AR usage rates2.

Ms. Dung Dang, Visa Country Manager for Vietnam and Laos, expressed her enthusiasm for the project, saying, “Visa is committed to digital transformation and we’re aligned with the government’s vision for a cashless economy. The collaboration among all project stakeholders will lead to multifaceted success and contribute to the prosperity of Vietnam in this new technological era. The innovation and payment space will be a platform for NIC, Visa, and other relevant public and private agencies to develop initiatives that promote cashless payments in Vietnam.”

As an integral part of the NIC Innovation City Experience Zone, the Visa Experience Journey offers visitors an immersive glimpse into the future of digital payments. Designed to showcase Visa’s innovative solutions, this journey will span various domains, transforming how we envision transactions and digital interactions for both government and businesses in Vietnam.

Public transportation & Urban Mobility

The Visa Experience Journey takes a bold step into public transportation, where convenience and speed are paramount. Visitors can experience seamless payments with Visa through Tap-to-pay on Bus Touchpad and Tap-to-pay on Barrier. These features enable commuters to tap their Visa cards on bus touchpads, streamlining the payment process and eliminating the need for physical tickets or cash. To fully transform the passenger experience from the first mile to the last, the Visa Urban Mobility team of dedicated global strategists and regional implementation specialists supports contactless payments by providing guidance, best practices and hands-on assistance to help launch projects like this in Vietnam more quickly and with maximum impact.

Home Shopping & In-Car Shopping

In the era of digital commerce, home shopping has never been more accessible or engaging. The Visa Experience Journey offers a glimpse into the future of home and in-car shopping. Visitors can experience the ease of making payments directly on the Smart Fridge screen, simplifying grocery shopping like never before. In-car shopping allows drivers to explore and make purchases while on the road, transforming mundane journeys into retail adventures.

Mixed Reality Shopping

Stepping into the realm of mixed reality, where physical and digital worlds merge seamlessly, the Visa Experience Journey introduces visitors to a world of boundless possibilities. Shoppers can navigate a virtual store via mixed reality glasses, select products, and make payments, all within the immersive mixed-reality environment, redefining how we shop and interact with brands.

“The Visa Experience Journey at NIC Hoa Lac, the largest innovation space in Vietnam, promises to be a captivating and enlightening experience, showcasing Visa’s pioneering role in innovative payment solutions that redefine the future of commerce. Through this initiative, Visa is shaping the digital payments landscape and revolutionizing how we engage with the world of transactions, offering convenience, security, and endless possibilities,” Ms. Dung added.

The Vietnam International Innovation Exhibition 2023 (VIIE 2023), together with the Inauguration Ceremony of NIC Hoa Lac, takes place from 28 October to 01 November 2023, with many activities displaying and introducing cutting-edge technologies from Vietnam and around the world via engaging workshops, interactive sessions, STEM and esports competitions, and the Better Choice Awards gala. The event is hosted by the Ministry of Planning and Investment and organized by NIC in collaboration with reputable partners. VIIE 2023 spearheads eight focus areas: Smart Factories, Smart Cities, Digital Media Lab, Cyber Security, Semiconductor Industry, Hydrogen Technology, Environmental Technology, and Medical Technology.

Comments: (0)