NganLuong, Vietnam’s largest payment gateway, has entered into a partnership with VeriME — a blockchain based digital identity verification platform, to provide a seamless and completely secure verification and authentication mechanism to each of its partner merchants and customers.
Taking a step forward towards ‘identity theft’ prevention, the global numbers that have already reached a quarter million in 2016 alone, NganLuong has decided to implement a D-SECURE solution by VeriME to prevent any cases of user data leakages.
Drawing inspiration from this, the company as a part of this deal has also decided to introduce VeriME’s D-KYC into its payment gateway framework, which will allow NganLuong to seamlessly onboard its new businesses.
Vietnam still remains a country operating on cash despite smartphones and technology being an integral part of its lifestyle. This use of cash has caused this nation’s economic progress to take a back seat as compared to nations where transactions have already shifted to a digital space.
Solving this issue, NganLuong offers a completely secure and easy-to-use digital payment gateway through which transactions can take place effortlessly, giving both customers and merchants a chance to embrace the convenience and ease of digital payments.
Both companies have been working on this project for past 6 months and have already piloted this solution with their key customers and merchants. NganLuong, in collaboration with VeriME, will not only be able to make the authentication process more seamless, but it will also safeguard user information using VeriME’s Authentication Solution.
“NganLuong was built with the motive to bring digitalization in one of the most untouched aspects of the Vietnamese economy. Now that we have introduced the concept of digital payments in the nation, it is time to move to the next phase. We now aim to promote a better customer experience thereby reducing drop-off rates to a minimum” commented Mr Dao Minh Phu, the company CEO. “ With VeriME, we will now be able to authenticate user information more quickly and hence drive more sales for the merchants,” he added.
Speaking on this partnership, Mr Nguyen Huu Phu, CEO of VeriME, Vietnam, said, “Identity theft has raised serious concerns all across the globe. Even with the most advanced security solutions, your personal information is not safe. Partnering with NganLuong, we are not only addressing identity theft but also, enabling NganLuong to comply with Local Data Sovereignty and PDPA Laws in Vietnam”.
About VeriME
VeriME is a Singapore based Fintech Startup offering blockchain based digital identity verification service (VaaS — Verification as a Service) which ensures that the user authentication and verification process isn’t reliant on any third party acting as a mediator.
VeriME’s flagship products, D-KYC and D-SECURE, can be utilised by customers and merchants for efficient digital authentication. The customers can be at peace knowing that their information is not being recorded or transmitted during the verification process.
About NganLuong
NganLuong is Vietnam’s largest online payment gateway supporting more than 57,000 sellers and 35 Million transactions annually with marquee clients like The Gioi Di Dong, Viettel, Vinaphone, Mobifone and more. It supports global payment brands as well as 22 local banks in Vietnam.
This partnership between the VeriME and NganLuong can be thought of as the first step towards building an economic ecosystem, immune to identity thefts and complying with Local Data Sovereignty, which will continue to flourish as more stakeholders join this change.
Contact
To learn more about VeriME, please contact press@verime.mobi
To learn more about NganLuong, please contact press@nganluong.vn