Visa Launches Innovation Space in Hanoi's NIC Hoa Lac

Published 7 months ago

Visa, a global leader in digital payments, is set to open its Innovation Space at the National Innovation Center – Hoa Lac Hi-tech Park (NIC Hoa Lac) in Hanoi. The initiative is part of the Vietnam International Innovation Exhibition 2023 (VIIE) and marks a significant step towards digital transformation and economic growth in Vietnam.

A New Era for Digital Payments

The Innovation Space aims to introduce pioneering payment technologies and solutions, especially in public transportation, home shopping, in-car shopping, and mixed reality shopping. The goal is to boost user convenience and extend support to small and medium-sized enterprises via Internet of Things (IoT) payments. A recent study by Visa revealed that a majority of Vietnamese are familiar with the concept of using Augmented Reality (AR) for retail shopping, with the Gen Z and Gen X segments showing the highest AR usage rates.

Driving Cashless Economy in Vietnam

Visa’s Innovation Space is in alignment with the government’s vision of a cashless economy. It will serve as a platform for NIC, Visa, and other relevant agencies to develop initiatives promoting cashless payments in Vietnam. Dung Dang, Visa Country Manager for Vietnam and Laos, emphasized the collaboration of project stakeholders as a key to success and contribution to the prosperity of Vietnam in the digital age.

The Visa Experience Journey

An integral part of the NIC Innovation City Experience Zone, the Visa Experience Journey offers visitors an immersive view into the future of digital payments. The journey will showcase Visa’s innovative solutions, transforming the envisioning of transactions and digital interactions in Vietnam.

Revolutionizing Public Transportation and Urban Mobility

The Visa Experience Journey aims to transform public transportation by introducing seamless payments with Visa through features like Tap-to-pay on Bus Touchpad and Tap-to-pay on Barrier. These features aim to streamline the payment process and eliminate the need for physical tickets or cash.

Home Shopping & In-Car Shopping

The Visa Experience Journey also offers a glimpse into the future of home and in-car shopping. Visitors will have the opportunity to experience making payments directly on the Smart Fridge screen, simplifying grocery shopping.

Mixed Reality Shopping

Stepping into the world of mixed reality, the Visa Experience Journey will introduce visitors to a new shopping experience. Shoppers can navigate a virtual store via mixed reality glasses, select products, and make payments, all within the immersive mixed-reality environment.

The Vietnam International Innovation Exhibition 2023 (VIIE 2023), which will host the inauguration ceremony of NIC Hoa Lac, will take place from 28 October to 01 November 2023. The event will display and introduce cutting-edge technologies from Vietnam and around the world, with a focus on areas like Smart Factories, Smart Cities, and Medical Technology.