Apple just announced the App Store Awards 2021, with the MBBank app being the only banking application in Vietnam to make it onto the Top Apps of 2021 on iOS.
While the presence of international brands like Facebook, YouTube, TikTok, and Gmail does not come as a surprise, a "Made in Vietnam" apps like App MBBank piques people's interest. What is so intriguing about the MBBank App?
MB is the first Vietnamese bank to provide consumers several account numbers – akin to "a wallet with many compartments" – immediately on the MBBank App. App users may quickly create a gorgeous account number, a phone number account, a date of birth account, or a quartet account, based on their preference.
Notably, the MBBank App is the only financial app to appear in Vietnam's Top Apps of 2021 on iOS.
MB is the pioneer to facilitate multi banking accounts for customers, similar to a “multi-compartment wallet” on MBBank App
Customers may now make transfers with their unique account numbers, which are easy to remember and convenient, rather than memorising a long series of digits (like the old 13-number accounts). This successful approach has helped reduce consumer uncertainty while transferring money.
Getting a "2-in-1" deal in VietQR code
MB quickly added a quick payment mechanism using the VietQR code into the MBBank application. Payment transactions are completed in a fraction of a second using VietQR code, eliminating the need to input the payee's data such as account number, account name, beneficiary bank, and so on, as with traditional money transfers. Users may also customise the mascot and colour of VietQR payment.
VietQR comes in handy for business owners, shippers, and customers
The QR payment feature can be especially useful for small and medium-sized enterprises owners, delivery shippers, and consumers. Customers or shippers just need to scan the QR code to process the transfer order immediately. Sellers will also receive the funds quickly and without incurring any further fees. MB has increased the QR code payment limit to VND500 million($21,740), making this service extremely convenient for both buyers and sellers.
With digital mindset in its DNA, MB has recently enhanced the capability of this cashless payment method, allowing business owners to actively settle with VietQR in addition to providing a smooth payment experience. Specifically, the business owners may use the MBBank App to generate a transaction QR code with the due amount of the goods, product content, and beneficiary account, making inventory and settlement easier. Furthermore, the MBBank App also incorporates personal computers, permitting customers to easily calculate while shopping.
"Fear of losing money? MB will compensate": Available only at MB
Customers were drawn to the slogan "Fear of losing money? MB will compensate" that appeared recently on the MBBank App.
Particularly, MB is the first bank in Vietnam to provide clients up to VND100 million ($4,350) in compensation in case of falling victim to fraud while making online payments with MB's account and international payment card. Those who spend more than VND10 million ($435) on debit and foreign credit cards between November 4, 2021 and November 4, 2022 will be alerted to activate this special protection mode for a one-year period.
MB is the first and only bank offering compensation to customers in case of fraudulent online payments
Understanding users’ psychology and pioneering in offering exceptional financial product experiences, particularly on digital platforms, is the path MB defined to achieve the aim of "leading in digitalisation”.
MB continues to assert its superior quality and advanced technology as the sole banking app on the list of Top Apps of 2021 on the iOS operating system in Vietnam, thereby contributing to a cashless society.
By Hien Nguyen