Vietnam Bank for Industry and Trade, or VietinBank, has expanded Western Union Online, an account-based money transfer (ABMT) service, for the first time in Vietnam through its IPay system.
To use the service, customers will log in IPay account on the website www.viettinbank.vn to receive money. ABMT applies new technology that allows access through website or mobile phones 24 hours a day.
To register for ABMT, users can access VietinBank transaction points to open IPay accounts.
VietinBank is the first and the only lender in Vietnam and the 10th bank in the world providing the service. The lender has had a large number of customers since launching the product last November.
Ngo Xuan Hai, general director of VietinBank’s Global Money Transfer Company, said in a statement released on Tuesday that the product targets young and tech-savvy clients. VietinBank will also work with its partners to continue research and deploy product of receiving money via SMS in the near future.
VietinBank has launched a promotion programme for the first 50 customers of its ABMT service.