Smart Card is a combination of three new technologies – Virtual Card, Contactless payment, and Green PIN. These technologies interface with the mobile banking app MyVIB and apply to all new and existing VIB credit cards.
Vietnam International Bank (VIB) just introduced to the Vietnamese market the technology Smart Card, among the most modern in the market right now, with the goal of minimizing the waiting period for customers, satisfying demand for immediate card use, strengthening data security, and contributing to environmental protection.
Speaking about the launch event for Smart Card, Ms Tran Thu Huong, Head of Retail Banking at VIB said, “In order to achieve our vision of leading the trend in credit cards in Vietnam and to contribute to the Government’s goal of developing a cashless society, we never stop diversifying our products, diversifying functions, and developing the most modern technologies. That we have become the first bank in Vietnam to introduce these three card technologies once again affirms our position as pioneers and our commitment to bringing exceptional benefits to cardholders in Vietnam.”
With Virtual Card, VIB cardholders receive their card information through Internet Banking and MyVIB as soon as their application is approved and can start making online transactions without waiting for a physical card to be issued. This technology has dramatically shortened the waiting period for customers, allowing them to enjoy the benefits of their cards immediately without waiting the usual 3-7 working days. Contactless payment allows customers to complete their transactions with one touch on the payment device, adding to the speed and security of the process. Finally, Green PIN bypasses the usual method of postal delivery and sends the PIN code straight to the app MyVIB, where cardholders can also change the code if desire. Green PIN simultaneously eliminates the PIN code waiting period and reduces printing, thereby helping to protect the environment.
VIB has previously introduced these technologies in a trial period in the second quarter of 2019. With outstanding benefits in security, speed, convenience, and frictionless transaction, these technologies were very well-received by VIB cardholders. Hundreds of thousands of Virtual Card transactions, Contactless payments and online PIN changes have been logged.
Besides these three technologies, VIB also applies the modern security technology 3D-secure and functions to allow cardholders to manage their cards anywhere, at any time through MyVIB. Cardholders can lock their cards immediately in the event of an emergency, activate their cards, lock or permit online transactions, reset their passwords, sign up for installments, and exchange reward points quickly and efficiently in less than 30 seconds, without having to contact a teller or visit a VIB branch.
Speaking at the launch event, Ms Winnie Wong, Mastercard Country Manager in Vietnam, said, “Vietnamese consumers are very receptive to cashless payment, due to its speed and convenience. We are very pleased by VIB’s launching of the Smart Card technology today. This is a significant step for the credit card market and an upgrade for customer experience in Vietnam. VIB’s effort reflects its strategy of becoming the leading bank in credit cards in Vietnam. We believe VIB will continue to see amazing results in card issuance and card transaction, and we especially look forward to their future innovations in the credit card market.”
VIB cardholders enjoy numerous benefits, including a 30% discount at Hoang Yen Group restaurants, The Pizza Company, San Fu Lou, Dì Mai, Sorae Sushi every Wednesday, Thursday, and Friday, and 15% off every Wednesday and 7% off the remaining days of the week at Agoda. Sendo offers VND 500,000 off for the first 100 VIB cardholders to sign up for installments from VND 6 million with 0% interest in August 2019.
Also in August, VIB offers double rewards for all weekend card transactions, and the cardholder with the highest number of weekend transactions will receive two tickets for a 5-star trip to Singapore. Cardholders with the highest spending every month, quarter, and year will receive 9999 gold, an Accor Plus membership card, or a Prudential insurance package worth up to VND 100 million.
Customers with an income of at least VND 7 million a month can open a credit card at VIB by applying at http://www.vib.com.vn and https://www.facebook.com/VIB.NHQT/, call 18008192, or visit a VIB branch.
Customers who open a credit card between now and August 15, 2019 have a chance to win two tickets to a luxury cruise trip around Asia and participate in a lucky draw for a 100% chance of winning a cash back reward of up to VND 1 million. Three new cardholders with the largest accumulated spending will each receive two tickets to the cruise.