National Payment Corporation of Vietnam (Napas) has appointed Nguyễn Quang Hưng as the new Director-General. Quang Hưng previously served as Deputy Director of the Information Technology Department for the State Bank of Vietnam.

After the former Director-General, Nguyễn Tú Anh, was elected Chairwoman of Napas’ management, the post of director-general had remained vacant since June 2017.

Nguyễn Kim Anh, Deputy Governor of the State Bank of Vietnam, urged Napas to work towards fortifying the electronic payment systems of the country for online public services. Expressing his concerns towards the rising demand of technological changes, Kim Anh said Napas must develop a platform for automated clearing and should support the conversion of magnetic cards into chip cards.

Kim Anh is a technology evangelist and he expects the new appointment in Napas to bring around greater adoption of disruptive technologies Blockchain and Big Data to change the way the current banking system operates.

According to a Napas report, there has been a significant rise in the number of transactions through its system. Total revenue handled by the system surged to US$74 billion in 2018, a 169% increase from the previous year. Currently, Napas is building a licensed financial switching system that will connect 17,000 ATMs, 270,000 point-of-sale machines, and 300 electronic payment companies spread across industries like telecommunications, hotels, aviation, and tourism. The system being built will serve over 100 million cardholders.

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