Vietnamese credit card market offers potential for banksThe Saigon Times Daily A credit card is used for payment - PHOTO: THANH HOA HCMC – Despite recent enormous growth, the local credit card market still offers potential for local commercial banks, Tuoi Tre Online newspaper reported. According to the State Bank of Vietnam, as of the third quarter of last year, 147.3 million bank cards had been issued, an increase of 20 million cards year-on-year. Of these, there had been only 4.6 million credit cards conducting transactions valued at nearly VND50 trillion, a 50% surge over the one year-ago period. Banks have rushed to issue credit cards with preferential policies, as part of a race to lure more customers to increase their market shares. According to financial experts, the development of tourism and online shopping has fueled Vietnamese consumers’ demand for payments via credit cards. In addition, banks can earn large profits from credit card services due to … [Read more...] about Vietnamese credit card market offers potential for banks
New credit card promotions
Sacombank rolls out promotion for new credit cards
Sacombank has launched a lucky draw for individuals applying for credit cards, with everyone guaranteed to win a prize. — VNS Photo Sacombank has launched a lucky draw for individuals applying for credit cards, with every applicant guaranteed to win a prize. When a customer activates their card, they will go into a lucky draw at https://vongquay.sacombank.com.vn, which offers prizes including four 55-inch smart TVs, cashback of VND200,000 and VND100,000, and thousands of helmets and phone cards. Then, for each card transaction worth VND500,000 or more, customers will receive a code for a lucky draw at the end of programme, which will have prizes like an SH Mode scooter, blenders, vacuum flasks, and superfast kettles. They will get three times the number of lucky codes for using QR code scans for payment or withdraw money using mCard, make payment through Samsung Pay, or take part in the zero interest instalment programme. The programme runs from May 28 to June 27, and gifts … [Read more...] about Sacombank rolls out promotion for new credit cards
New policy supports kid credit cards
Beginning March 3, 2018, persons who are between 15 and 18 years old can open debit cards, credit cards and prepaid cards without the need to provide proof of income’s sources, according to the State Bank of Vietnam.(Source: antd.vn) Hanoi (VNA) - Beginning March 3, 2018, persons who are between 15 and 18 years old can open debit cards, credit cards and prepaid cards without the need to provide proof of income’s sources, according to the State Bank of Vietnam. Moreover, persons who are from 6 to 15 years old can create debit cards associated with their parents’ and guardians’ accounts. The new decree left some parents confused about how they would control their children’s spending. Ngoc Mai in Ba Trieu district told Lao dong (Labour) newspaper that she found the policy infeasible. “I will never let my children open credit cards with overdraft lines when they are under 18 years old as I do not know what they’ll spend,” she … [Read more...] about New policy supports kid credit cards
Free entry given to foreigners credited with promoting Vietnam’s Hoi An town
Authorities of a province in central Vietnam have given cards which allow free entry to UNESCO-recognized Hoi An Ancient Town to scores of Vietnamese and expats credited with promoting the town. Tuoi Tre"> According to the Hoi An City People’s Committee in the central province of Quang Nam, the move is intended to honor Vietnamese and expat individuals who have made massive contributions to preserving the city’s treasured relics and helped promote Hoi An Ancient Town for UNESCO recognition. Hoi An City is home to the ancient town which lies entirely in its Minh An Ward. The cards were presented to 39 individuals, including 26 locals, eight Japanese people, two Americans, one Costa Rican, one Thai, and one Bulgarian. In 1999, Hoi An Ancient Town was declared a world heritage site by UNESCO for being a well-preserved example of a Southeast Asian trading port from the 15th to 19th centuries, and for housing buildings with a unique blend of local and foreign … [Read more...] about Free entry given to foreigners credited with promoting Vietnam’s Hoi An town
Draft to stop a boom in new SIM cards
HA NOI - The Ministry of Information and Communications (MIC) is considering charging new mobile phone subscribers at least VND40,000 (US$2) to start using phone services, said department of telecommunications deputy Nguyen Van Tru. Tru said the fees include phone number registration as well as new subscriber identity module (SIM) cards, which will only be charged for once, in a move to end the current wave of unregistered SIM cards which are causing a shortage of phone numbers in Viet Nam. According to the new draft, people are required to register mobile phone SIM cards with their personal information at authorised agencies. … [Read more...] about Draft to stop a boom in new SIM cards