Vietnam to have first dual credit and debit card

16-Apr-2021 Intellasia | VNS | 5:02 AM Print This Post

The Vietnam National Payment Joint Stock Company (NAPAS) and Vietinbank on Tuesday in Hanoi signed a cooperation agreement for the launch of a dual credit and debit card — the first of its kind in Vietnam.

The card will have one chip for a debit card and another for a credit card. The dual card aims to simplify administrative procedures for issuing cards for customers as well as to meet diverse consumption and purchasing demand.

The dual card is expected to launch in the third quarter of the year.

Speaking at the signing ceremony, Dam Hong Tien, director of the Vietinbank’s Retail Division, said: “Vietinbank has been a pioneer bank cooperating with NAPAS in developing the dual card to bring new and different experiences to cardholders. The dual card would have new payment conveniences with low cost and outstanding preferential treatment.”

Nguyen Dang Hung, deputy general director of NAPAS said: “The dual card is a unique domestic card available for the first time in Vietnam, using the most advanced payment made-in-Vietnam technologies. The card and multifunctional payment products will make an important contribution to promoting non-cash payment solutions in the country – a major policy of the government.”

The deal is part of efforts from Vietinbank and NAPAS to provide creative, reliable and easy-to-use payment products.


Category: Finance, Vietnam

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