Online shopping craze gives rise to E-card use

According to reports produced by the Ministry of Industry and Trade, e-commerce in Vietnam has generated $4 billion in revenue in 2015, a 37-per-cent increase from 2014. Consumers spent an average of $106 each time they shopped online, the report finds.

This figure is expected to grow in the upcoming years, as Vietnamese consumers are becoming more comfortable with online shopping. Tuyet Thanh, a 33-year-old office worker from Ho Chi Minh City, shared that her shopping experience has become more convenient thanks to e-commerce.

“Whether it’s rainy or sunny outside, whether I’m at home or at work, I can always surf the internet and purchase everything I need, be it goods, flight tickets or hotel rooms. The phrase “anytime, anywhere” applies perfectly here,” said Thanh.

Other shoppers are happy to get access to international brands and browse for purchases at any time.

However, it should be noted that credit cards security is conducive to an enjoyable e-shopping experience. Shoppers note that financial security is an important issue as online scams and fraud are becoming a pandemic in Vietnam.

“I’m very picky when it comes to choosing credit cards for online shopping. The cards I use should be issued by credible banks which work in partnership with reliable merchants,” said Thanh Huong, a 28-year-old media specialist.

She added that to further entice consumers, banks should introduce promotion programmes that appeal to their target segments and team up with brands of high-standard products and services providers.

One of the popular choices for Vietnamese consumers is Shinhan Bank’s E-card, which was launched in partnership with Visa. According to Shinhan, E-card users are entitled for a maximum cashback of VND300,000 per month and VND3,000,000 per year for all online purchases made during weekends.

E-Card also rewards customers with Shinhan points at a rate of 2 points for weekday online purchases and 1 point for offline purchases after every VND1,000 spent. Shinhan reward points are valid for 3 years and can be redeemed for cash.

“Most importantly, consumers can enjoy special promotions at 200 Shinhan partners, including shopping websites and apps like Tiki, Zalora, Lazada, Uber, Grab, and Ciao Flora. Also, buy 1 get 1 free offers are available at CGV cinemas, Lotte cinemas, Hollys Coffee, and Vpresso Coffee,” said a Shinhan representative.

The users of theShinhan E-card are also eligible for a 0 per cent interest instalment plan at Tiki, Lazada, Yes24, Vivavivu, Nguyen Kim, Piaggio, SAPA, Xuan Cau, and many more popular stores. From now till 31 December 2016, the first 888 new E-card customers will receive a shopping promotion code valued at VND300,000 at Lotte.vn.

In 2016, along with its E-card, Shinhan Bank has stepped up on their internet banking services, such as online bill payment, online smart saving services, and many more.

The bank is also strongly expanding its network nationwide. In this year only, it has opened 4 new branches in Hanoi, Vinh Phuc, and Ho Chi Minh City, bringing the number of Shinhan branches and transaction centres to 18 nationwide.