Online payment: Still rejecting Vietnamese businesses

The story of buying and selling goods and payment online nowadays has become an indispensable transaction in the e-commerce market but in Vietnam, enterprises (enterprises) still cannot participate in this playground.

Damage from not being able to pay via the Internet has affected the business situation of enterprises, both causing losses to the State and seriously affecting the national reputation.

Disadvantaged businesses

In Vietnam, there have been quite a number of websites selling goods online but the operation is still congested because there is no sales account, difficult to deal with foreign visitors. Photo: Nguyen Sa
Currently, Vietnamese people who want to sell goods online cannot stand up to open a Sales Account - Merchant Account. Ms. Nguyen Thuy Vu, Director of Online Company (owning a website selling thegioihoatuoi.com) said: ' The demand for online payment of Vietnamese enterprises is very large, especially in the context we want. expanding the scope of transactions to the world, but Vietnamese enterprises can not open bank account to make transactions with customers in the most convenient way. We have lost many foreign customers just because we have no Merchant Account .

Online payment process 1. Customers go to the online sales website to order and report information on the credit card.

2. Customer information is transferred directly to the seller's bank if the seller has a TKBH (Merchant Account), otherwise this information is transferred to a third party (Third Party) as a service provider. Online payment that the seller has registered to use the service. Customer information is not stored on the seller's server. This will limit hackers from stealing credit card information.

3. Seller or third party bank will check the validity of customers' credit card information through Electronic Transaction Secure (Transaction Electronic). This process takes only a few seconds.

4. The issuing bank will respond to the bank asking for the validity of the card (encrypted information).

5. This information is then decrypted to send back to the seller.

6. Seller based on this information decides to sell or not and sends an email informing the customer whether their order is accepted and processed.

7. Sales enterprises send payment invoices to buyers and deliveries.

( According to vitanco.com ) Perhaps this is not a special case of an enterprise, according to Mr. Tran Thanh Hai, Deputy Director of E-Commerce Department: ' In the course of my work and contact with businesses has also been There are many businesses complaining about this issue, many businesses have prepared everything in the business plan online but only because of being entangled with payment, they have to delay it .

Also according to Mr. Hai, Vietnamese enterprises cannot open insurance accounts outside the ability of the E-Commerce Department to solve. ' This is a problem of the bank, I myself wish the State Bank will soon decide to allow Vietnamese enterprises to participate in the international market easily. This obstacle not only damages businesses but also slows down the pace of development of Vietnam's e-commerce industry, 'Hai added.

According to Mr. Hai's advice, in the context of enterprises temporarily unable to open insurance companies, enterprises can choose alternative methods such as finding services (third party - Third Party). But according to many businesses doing business in e-commerce, even using third-party services is not stable.

No choice

Some businesses choose solutions thanks to their relatives, friends in the US, Thailand or some other countries to open insurance accounts to meet customers' international payment needs. ' Choosing this way is risky and troublesome for account holders such as they have to declare their income to pay tax for the country they are living in, personal information disclosed on the Internet is also disadvantageous. for them '- said Alain Nguyen, an online activist.

There are also companies that have to choose the 3rd service provider such as PayPal, WorldPay, 2checkout . It is worth mentioning that PayPal, WorldPay, Google Checkout and some other reputable organizations have bluntly rejected Vietnamese sellers. .

Only a few will accept 'opening' for Vietnamese companies like 2checkout, accepting but accepting but 2checkout does not have Vietnamese support, no technical support (so only customers are technical staff specializing in web programming If you are good at English, you can perform transactions with this organization).

Thuy Vu added: ' When I cannot open my bank account, I have to choose 2checkout, the registration period takes nearly 1 month and costs about 50 USD, so my company still cannot use this service. At first, I thought they would receive money to support businesses to connect payment on their website but after collecting money they did not care if they could use it. Support services only have regular questions and answers in English up to a hundred pages long, email them, there is no answer. Not to mention, if you can use the service, it will continue to cost commissions and must comply with troublesome terms, only for them . '

It is known that there are quite a number of companies that are dissatisfied when using 3rd party services because third party businesses do not care about the interests of enterprises. Specifically, when a customer places an order on the website but then changes his / her mind and no longer buys it, the transaction is unsuccessful, the seller does not sell anything but takes a transaction fee for a third party.

Online payment in Vietnam: Ever?

Online payment processing process ( Richard Jewson Source. E-Payments: Credit Cards on the Internet )

We have contacted several times with the Banking Informatics Technology Department (State Bank) to find out the reason why until now, the Bank has not been able to help Vietnamese enterprises to open bank accounts but cannot meet the leaders. Director Department (Director, Deputy Director), and lower level staff cannot answer.

In today's competitive business environment, enterprises need to have effective trading tools to support their business such as online payment, while businesses cannot actively operate in this field.

More notably, if no state management measures can be lost, tax revenue will be lost if businesses choose solutions through intermediaries to open accounts abroad. In addition, the opening of the e-commerce school is also a way of affirming the position of the Vietnamese brand, immersing itself in the global playground.

Nguyen Sa