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 credit card promotions
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
Co-branded card gets more popular in credit card market
VietNamNet Bridge - Issuing co-branded cards proves to be a new way for commercial banks to follow in the context of the credit card market in Vietnam getting saturated. Benefits for all three parties These include the cards issued by Co-op, a retailer, in cooperation with Vietcombank, BIDV and Dong A Bank, the cards issued by Vietnam Airlines and Techcombank Visa, Vietnam Airlines and VP Bank Platinum MasterCard, Bac A Bank and TH True Mart, BIDV and Lingo Card, Visa Debit Vietinbank and Otofun, Visa Debit Vietinbank- Webtretho; Sacombank- Sony Visa, or BIDV- Manchester United. The co-branded cards have been launched into the markets just within a short period, which can show the heat of the market. The benefits co-branded cards can bring to bankers, businesses and consumers are very clear. Bankers, when cooperating with retailers or businesses, can approach to the businesses' existing clients. This helps them cut down the expenses on card issuance and management. And this … [Read more...] about Co-branded card gets more popular in credit card market
Locals still shun credit cards due to high fees
Despite the central bank restricting dollar transaction in the economy, local people still hesitate to use international credit card to use overseas due to high usage fees. Commercial banks have encouraged customers who have to travel abroad to opt for international credit card to meet their demand for US dollar. Lenders including Asia Commercial Bank (ACB), Eximbank, DongA Bank and Vietnam International Bank constantly released many promotional packs for credit card services, including one-day credit card issue, preferential foreign exchange rates and low margin rates. Bui Tan Tai, deputy general director of ACB, said credit cards offered a safer way of money management than cash when customers traveled overseas. "Customers planning to travel abroad should opt for international credit cards, which offer high deposit interest rates and high foreign exchange rates," said Tran Phuong Binh, chairman of DongA Bank. Despite lenders' promotional packs for credit cards, the … [Read more...] about Locals still shun credit cards due to high fees
Banks rushing to issue credit cards
VietNamNet Bridge - Commercial banks are rushing to issue cards to individual clients, considering this the effective tool to approach clients. The Asia Commercial Bank (ACB) has issued Visa Platinum card with EMV standards. This is a card with an electronic chip - a microprocessor like a multi-functional miniature computer capable of storing encoded information with high security level. … [Read more...] about Banks rushing to issue credit cards