Four months after it began operations, ViettelPay has more than 2.75 million subscribers. — VNS Photo Viettel Pay’s digital banking service has received the certificate of the Payment Card Industry Data Security Standard, the international information security standard for organisations that handle branded credit cards. It was created to increase safety for cardholder data to reduce credit card fraud. The service has completed Trustwave’s Self-Assessment Questionnaire and Vulnerability Scan. The standard is mandated by the card companies and administered by the Payment Card Industry Security Standards Council. MasterCard, American Express, Visa, JCB International, and Discover Financial Services established the council in 2006. Four months after it began operations, ViettelPay has more than 2.75 million subscribers. It has over 200,000 transaction spots where customers can withdraw and put money into their account, 11 times than number of ATMs in the country. It … [Read more...] about ViettelPay information security certified
Payment card industry security standards council
TPBank receives PCI DSS 3.2 certification
Tien Phong Commercial Joint Stock Bank (TPBank) in Ha Noi received the Payment Card Industry Data Security Standard (PCI DSS) certification on Tuesday.PCI DSS, the latest version 3.2 from the US ControlCase, is a comprehensive set of requirements for enhancing cardholder data security around the storage and handling of a customer’s credit card information.TPBank met with 12 strict requirements relating to information safety policies, IT infrastructure and data processing to ensure safety for card information. With the high security, the bank’s customers can be protected when using card services.Nguyen Hung, TPBank’s general director, said information security has been the most important factor for banks in the digital area. “This showed the bank’s interest and serious investment in ensuring system security,” Hung said.Suresh Dadlani, ControlCase’s managing director, said he valued the implementation of PCI DSS at TPBank. He forecast that the … [Read more...] about TPBank receives PCI DSS 3.2 certification
BUSINESS IN BRIEF 10/9
Survey: Locals prefer foreign employers Employees in Vietnam have overwhelmingly chosen foreign-invested companies as the best places to work, with only a few local exceptions, according to a new survey by recruitment network JobStreet.com. The survey for the second quarter attracted more than 2,500 employees in various industries. Unilever Vietnam, a giant in fast moving consumer goods (FMCG), came first among the top 10 employers, followed by Vietnam Dairy Products Joint Stock Co (Vinamilk), Vingroup and technology firms Samsung, FPT, Viettel and Intel. Nestle, P&G Group and Suntory PepsiCo rounded up the top 10. Multinational corporations tended to be dominant in most industry-specific lists. For instance, Vinamilk was the only local player in the top five FMCG companies. Domestic enterprises only outnumbered foreign-invested ones in retail and finance-banking sectors. Vingroup, FPT Shop, Viettel Store and The Gioi Di Dong (Mobile World) took the lead in retail, with Japanese … [Read more...] about BUSINESS IN BRIEF 10/9
BUSINESS IN BRIEF 22/1
Environment tax hike on fuels postponedA plan to slap the environmental protection tax of VND3,000-8,000 per liter on fuels, up from the current VND1,000-4,000, will be resent to the National Assembly (NA) in October next year, effectively putting off the tax hike.According to news website Dan Tri, Deputy Prime Minister Vuong Dinh Hue assigned the Ministry of Finance to coordinate with the Ministry of Justice and other relevant ministries, agencies and localities to review and complete the draft of the amended environmental protection tax law including the new environment protection tax rates and submit to the NA for approval next year.On September 13 last year, the NA Standing Committee discussed the draft law.NA chairwoman Nguyen Thi Kim Ngan said the Government should increase State budget revenue by enhancing fee collection management, reducing tax arrears and fighting tax evasion and trade fraud, instead of hiking taxes.The proposal to raise the environment protection tax on fuels … [Read more...] about BUSINESS IN BRIEF 22/1
BUSINESS IN BRIEF 19/1
VIB posts strong profit growth in 2017The Vietnam International Bank (VIB) has reported pre-tax profit of over VNĐ1.4 trillion (US$62 million) in 2017, surging 100 per cent year-on-year or far surpassing the yearly target.VIB’s total assets also saw a positive yearly increase of 18 per cent to VNĐ123 trillion ($5.4 billion), while the bank’s total credit balance amounted to approximately VNĐ90 trillion ($3.95 billion), up 26 per cent year-on-year, according to its business results, which were released on Tuesday.As per the results, the bank’s capital adequacy ratio (CAR) was 13.1 per cent, its ratios of non-performance loan (NPL) and return on equity (ROE) stood at 2.49 per cent and 12.7 per cent, respectively. Earnings per share were VNĐ2,000, which was considered a high rate among domestic banks.On January 17, 2017, VIB debuted more than 564.4 million shares on the Unlisted Public Company Market (UPCoM), a move that the bank hoped would create … [Read more...] about BUSINESS IN BRIEF 19/1