Vietnamese users eligible to open virtual credit cards

The Vietnam International Bank (VIB) has announced the expansion of the card opening ecosystem in the Bizverse World virtual environment

With the expansion of the card opening ecosystem in the virtual environment, VIB is the first bank in Việt Nam to participate in the Metaverse. — Photo courtesy of VIB

The Vietnam International Bank (VIB) has announced the expansion of the card opening ecosystem in the Bizverse World virtual environment, bringing new experience of opening virtual credit cards to Vietnamese users.

“This is one of the activities on developing the card opening ecosystem that VIB has promoted to continuously brings innovative and convenient service experiences to Vietnamese users,” Trần Thu Hương - Head of Strategy cum Head of Retail Banking of VIB said.

“In VIB's unlimited card opening ecosystem, we are integrating many card opening channels in real space and virtual environment, at branches or on leading e-commerce platforms in Việt Nam and the region.”

“With the maximum support of today's leading technologies, Vietnamese users can easily open VIB credit cards anywhere, on any platform, and whenever they need it," Hương said.

Unlimited card opening ecosystem

Over the past years, VIB has been implementing the strategy on developing an unlimited card opening ecosystem, especially on the digital platform, through cooperation with partners which have sufficient capacities in technology, customers development, creativity and sensitivity to trends. Thereby, the bank has accelerated its comprehensive digital transformation of business operations, towards increasing outstanding efficiency with the maximum support of technology.

With the expansion of the card opening ecosystem in the virtual environment, VIB is the first bank in Việt Nam to participate in the Metaverse. That is a platform in which businesses can easily bring their business models to the virtual environment and maximise their business efficiency.

The ecosystem enables users to visit VIB showroom, register to open and immediately receive a real credit card with a limit of up to VNĐ200 million within 15-30 minutes.

That will bring fascinating experiences for users who can register to open a VIB card on a virtual platform commonly found in sci-fi movies, where they can freely express their personal values, enhance their creativity and social influence. Then they will receive VIB credit cards with a limit of up to VNĐ200 million in the real world.

On the occasion, VIB is implementing a promotion program which offers annual fee exemption for users who open a card at VIB showroom on Bizverse World from now until April 30, 2022.

Previously, VIB has cooperated with Fiza to provide a card opening solution based on eKYC technology for Vietnamese users who are currently using the Zalo platform.

Fiza is considered one of the country’s leading providers of technology solutions for the financial and banking sectors, helping these organisations speed up the appliance of the latest technologies such as artificial intelligence (AI), Data Processing, Cloud Finance, into their business activities, thus contributing to promoting digital transformation in the financial sector.

The cooperation with Fiza will help VIB bring a better, smarter, and more convenient service experience to domestic customers when they can use banking services directly on Zalo.

The 100 per cent online card opening process has resulted in an explosion in credit card registration through VIB's online channel. — Photo courtesy of VIB

Opening cards 100% online

VIB's unlimited card opening ecosystem which is supported by leading modern card technology and 100 per cent online card opening process, allows customers to apply for card opening online and instantly receive credit cards with a limit of up to VNĐ200 million in just 15-30 minutes, without visiting a branch, proving their income and directly meeting bank’s employees.

The 100 per cent online card opening process has resulted in an explosion in credit card registration through VIB's online channel. The contribution ratio of this channel increased from 9 per cent in the first quarter of 2020 to nearly 50 per cent at the end of 2021, compared to the traditional channels.

Personalised credit card lines

Besides the unlimited card opening ecosystem and the 100 per cent online card opening process, the bank’s credit card personalisation strategy has also worked.

The unique credit card lines with tailored features and outstanding benefits have better met the needs of customers. That have helped affirm VIB’s leading position in the local credit card market.

Personalised credit card lines have brought outstanding growth for VIB. Last year, total spending via the bank’s credit cards reached VNĐ39.8 trillion, accounting for nearly 30 per cent of total spending via Mastercard in Việt Nam.

In 2021, a series of VIB credit card indicators all grew 3-4 times, even 9-15 times compared to the market average, such as the number of transactions, the value of online transactions, the rate of activated cards, spending at home and abroad, according to a report from Mastercard. — VNS

Source: VNA
vietnamnews.vn

Related News

Refinancing and short credit card transactions: A dangerous trick

Refinancing and short credit card transactions: A dangerous trick

VCN - Credit cards are increasingly common and facing the needs of people, at the end of the year, services such as credit card maturity and cash withdrawal from credit cards are advertised.

Latest News

Central bank plans to auction gold bars on April 22

Central bank plans to auction gold bars on April 22

The State Bank of Vietnam (SBV) will auction SJC-branded gold bars on April 22, a representative of the central bank said on April 19.
Old loans must endure higher interest rates temporarily: central bank

Old loans must endure higher interest rates temporarily: central bank

The average lending interest rate for new loans by commercial banks is reported at around 6.4% per year, a decrease of 0.7 percentage point per year compared to the end of last year. However, borrowers with loans issued before the latest rate adjustment still must pay higher rates, according to the State Bank of Vietnam (SBV).
State-owned enterprises flourished

State-owned enterprises flourished

VCN - The production and business situation in the first quarter of 2024 of the state-owned enterprise sector continues to have many bright spots with many financial targets completed or exceeding the set plan. This is the premise for positive business results in the second quarter and the whole year 2024.
Forum discusses support for women-owned firms ​to join supply chains

Forum discusses support for women-owned firms ​to join supply chains

A forum on supporting women-owned businesses to join supply chains through sustainable development tools took place in Hanoi on April 17.

More News

Ensure savings and prevent losses in disbursement of public investment

Ensure savings and prevent losses in disbursement of public investment

VCN - The practice of thrift and combating waste in the management and use of public investment is one of key tasks in the program of thrift practice and waste combat in 2024 of the Ministry of Finance.
Implementing unprecedented fiscal policies to actively support people and businesses

Implementing unprecedented fiscal policies to actively support people and businesses

VCN - Implementing fiscal policies to support the economy, the Ministry of Finance has advised and offered many unprecedented solutions to reduce taxes, fees and charges, thereby supporting people and businesses to overcome difficulties, restore production and business. According to assessments, in 2024 fiscal policy will continue to be a positive highlight for the economy.
Foreign investors net sell in Vietnamese market, banking sector attracts interest

Foreign investors net sell in Vietnamese market, banking sector attracts interest

According to BSC, foreign investors sold a net total of VNĐ11.55 trillion across all three exchanges in the first three months of 2024, equivalent to 50.62 per cent of the total net selling value in 2023. The selling pressure came from active funds and ETFs, resulting in a continued net withdrawal state and exerting pressure on the market.
Banks record positive business indicators in Q1 2024

Banks record positive business indicators in Q1 2024

According to experts, the prosperity of the banking industry in the period came from many supporting factors, including favourable policies to credit growth.
The finance sector focuses on perfecting institutions, ensuring financial discipline, and budgetary rigor

The finance sector focuses on perfecting institutions, ensuring financial discipline, and budgetary rigor

VCN- In the document sent to the Ministry of Planning and Investment (MPI) regarding the implementation of Resolution No. 01/NQ-CP in the field of state finance and budget in March 2024, the Ministry of Finance stated that it actively implemented projects to build and improve institutions, ensuring the balance of the state budget and stability in the financial market and prices.
IASB recommends Vietnam prepare infrastructure to apply IFRS

IASB recommends Vietnam prepare infrastructure to apply IFRS

VCN - Applying “International Financial Reporting Standards (IFRS) will help businesses improve the quality of financial reporting and enhance the quality of explanation, but there are still many difficulties in transformation.
Strong decentralization for ministries, branches and localities to manage and use electricity projects

Strong decentralization for ministries, branches and localities to manage and use electricity projects

VCN - Responding to petitions from voters in Lao Cai province related to problems in handing over public assets such as power grid projects to the electricity industry for management, the Ministry of Finance said that it has submitted to the Government to promulgate Decree No. 02. /2024/ND-CP on transferring power projects as public assets to Vietnam Electricity Group (EVN).
The Tax sector’s revenue collection reached 33% of current appropriation

The Tax sector’s revenue collection reached 33% of current appropriation

In the first quarter of the year, total revenue managed by Tax agency was estimated at VND490,196 billion, equal to 116.9% of the current appropriation in the first quarter, equivalent to 33% of the current appropriation, an increase of 10.9% over the same period in 2023
Savings interest rates begin rising amid slowing bank deposits

Savings interest rates begin rising amid slowing bank deposits

While some commercial banks continue lowering deposit interest rates, others are increasing the rates, particularly for term deposits of 12 months or longer.
Read More

Your care

Latest Most read
Central bank plans to auction gold bars on April 22

Central bank plans to auction gold bars on April 22

The State Bank of Vietnam (SBV) will auction SJC-branded gold bars on April 22, a representative of the central bank said on April 19.
Old loans must endure higher interest rates temporarily: central bank

Old loans must endure higher interest rates temporarily: central bank

The average lending interest rate for new loans by commercial banks is reported at around 6.4% per year, a decrease of 0.7 percentage point per year compared to the end of last year. However, borrowers with loans issued before the latest rate adjustment still must pay higher rates, according to the State Bank of Vietnam (SBV).
State-owned enterprises flourished

State-owned enterprises flourished

VCN - The production and business situation in the first quarter of 2024 of the state-owned enterprise sector continues to have many bright spots with many financial targets completed or exceeding the set plan. This is the premise for positive business re
Forum discusses support for women-owned firms ​to join supply chains

Forum discusses support for women-owned firms ​to join supply chains

A forum on supporting women-owned businesses to join supply chains through sustainable development tools took place in Hanoi on April 17.
Ensure savings and prevent losses in disbursement of public investment

Ensure savings and prevent losses in disbursement of public investment

VCN - According to the Ministry of Finance's report, as of the end of March, the total unallocated investment is VND25,654.7 billion, accounting for 3.9% of the target assigned by the Prime Minister.
Mobile Version