SePay is an open banking service from Công Ty Cổ Phần SePay in Vietnam. Open banking means that a bank shares account data, such as incoming transfers, with outside software through an API. SePay connects the accounts that a business holds at Vietnamese banks (13 major banks officially) and reports each incoming transfer to the business's software.
In a typical sale, the customer scans a VietQR code (the Vietnamese standard QR code for bank transfers) and pays by transfer. SePay detects the change in the account balance and sends a webhook, an HTTP call, to the shop's website or POS system, which marks the order as paid; the site says this happens within 10 seconds. Virtual accounts give each customer, store or order its own account number, so a transfer with a wrong reference text still matches. Other products send payment alerts to Telegram or Lark chats and a mobile app, offer a card gateway for Visa, Mastercard and JCB, and issue electronic invoices when money arrives.
SePay is a hosted service with monthly or yearly plans priced by the number of transactions.