On September 23, 2025, in Hanoi, the Co-operative Bank of Vietnam (Co-opBank) and Sao Mai Tech Joint Stock Company (Sao Mai Tech) officially signed a cooperation agreement to roll out a payment-acceptance solution for lodging establishments (hospitality POS). This marks an important step that not only expands Co-opBank’s service ecosystem but also contributes to driving comprehensive digital transformation in the hospitality sector—a service industry that is experiencing strong growth alongside tourism and the rising demand for leisure in Vietnam.
The signing ceremony was attended by leaders of the Payment Department of the State Bank of Vietnam (SBV); representatives of the Administrative Management of Social Order Police Department (C06) under the Ministry of Public Security; leaders of Sao Mai Tech; leaders of the Vietnam Banks Association (VNBA), the Vietnam Association of People’s Credit Funds (VAPCF), the National Payment Corporation of Vietnam (NAPAS), the Vietnam Payment Solutions Joint Stock Company (VNPAY), along with many guests and partners.
From Co-opBank, participants included Mr. Nguyen Quoc Cuong – Chairman of the Board of Directors; Mrs. Pham Thi Hong Minh – General Director; members of the Board of Directors; the Executive Board, the Supervisory Board, leaders of departments at the Head Office, and representatives from three Co-opBank branches in Hanoi.
Mr. Nguyen Quoc Cuong – Chairman of the Board of Directors of Co-opBank delivered a speech at the signing ceremony.
Comprehensive Digital Solution – Driving Modernization in Hospitality Management
Vietnam’s hospitality sector currently comprises more than 200,000 establishments, including hotels, guesthouses, homestays, villas, and even hospitals. With the rapid growth of tourism and domestic leisure demand, this field is expected to continue expanding strongly in the coming years. However, management and payment processes at many facilities remain cumbersome, requiring time-consuming declarations and offering a less-than-convenient experience for customers.
In this context, the lodging POS solution officially launched by Co-opBank and Sao Mai Tech on September 23, 2025 introduces a multifunctional device tailored for hospitality service providers. The device not only supports cashless payments such as card swipes, QR codes, and e-wallets but also integrates customer identity authentication through a direct connection with the ASM software licensed by the Ministry of Public Security. This approach aligns closely with the Government’s Project 06 on the application of citizen data, digital identification, and electronic authentication.
Speaking at the signing ceremony, Mr. Nguyen Quoc Cuong, Chairman of the Board of Directors of Co-opBank, stated: “In our development strategy, Co-opBank aims to expand its product and service ecosystem beyond traditional financial and banking activities, reaching into areas that are closely connected to community life. One key potential sector is hospitality, which is growing rapidly alongside the rise of tourism and domestic leisure demand across the country. With the advantage of a nationwide network and a deep understanding of grassroots customer needs, especially PCFs and rural communities, Co-opBank is oriented toward delivering specialized digital payment solutions for lodging establishments”.
The cooperation between Co-opBank and Sao Mai Tech today marks an important step in broadening Co-opBank’s service ecosystem while creating tangible value for customers and local communities. By deploying the smart lodging device, Co-opBank expects to provide hospitality businesses with a comprehensive payment solution: cashless payment options, guest identity verification, and direct connectivity with the accommodation management system of the Ministry of Public Security.
This solution not only offers a convenient and secure experience for clients but also helps lodging facilities save time, operate more efficiently, and ensure full compliance with State regulatory requirements.”
Optimizing Processes – Diversifying Benefits
At the ceremony, Mr. Le Anh Dung, Deputy Director General of the Payment Department of the State Bank of Vietnam, praised the initiative: “In the context of the hospitality sector entering a period of vigorous digital transformation, lodging establishments need professional, automated management solutions. The solution jointly implemented by Co-opBank and Sao Mai Tech not only meets this demand but also helps ensure legal compliance and enhance the customer experience.”
Mr. Le Anh Dung, Deputy Director General of the Payment Department of the SBV delivered remarks at the signing ceremony.
Representing the technology enterprise, Ms. Nguyen Thi Thuy Duong, General Director of Sao Mai Tech, shared the long-term cooperation plan: “We will work alongside Co-opBank to roll out the lodging POS devices on a wide scale, directly linking them with payment accounts at Co-opBank to collect service fees. In addition, both parties will jointly develop more digital banking products and new payment utilities to serve customers in the hospitality sector.”
Ms. Nguyen Thi Thuy Duong, General Director of Sao Mai Tech delivered a speech at the signing ceremony
With the combination of Co-opBank’s financial and banking expertise and Sao Mai Tech’s technological strengths, the lodging POS solution is expected to become one of the key tools in the service industry’s digital transformation strategy, especially as Vietnam accelerates the development of a digital economy and digital society.
The signing ceremony between Co-opBank and Sao Mai Tech Company
The delegates posed for a commemorative photo at the signing ceremony
In the future, this service ecosystem is expected to expand beyond payment and lodging verification to include other value-added financial solutions, particularly the broader provision of digital banking services and payment utilities for lodging customers.
The partnership between Co-opBank and Sao Mai Tech is therefore not merely a business agreement but also a strategic step in Vietnam’s national digital transformation journey, aligning the interests of customers, enterprises, and the community while contributing to more effective state management.
Some photos from the ceremony:
Overview of the signing ceremony
Experience the lodging POS solution implemented by Co-opBank and Sao Mai Tech at the signing ceremony
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