chinas huge stimulus package to affect vietnams key industries

China’s huge stimulus package to affect Vietnam's key industries

The People's Bank of China unveiled a significant package of support in late September, the largest since the Covid-19 pandemic, which includes cuts to key interest rates, reductions in mortgage rates, and decreased payment requirements for second-home purchases.
several banks suspend interest payments for typhoon affected borrowers

Several banks suspend interest payments for typhoon-affected borrowers

Several banks have granted borrowers affected by Typhoon Yagi and its aftermath interest waivers or reductions, as well as support for obtaining new loans.
buy now pay later service launched on lotte mart app

Buy now pay later service launched on LOTTE Mart app

LOTTE C&F, the deferred payment service known as "Buy Now, Pay Later" (BNPL) under LOTTE Group, officially launched in the Vietnamese market on September 27.
vietnam bank for social policies scales up support in aftermath of typhoon yagi

Vietnam Bank for Social Policies scales up support in aftermath of Typhoon Yagi

Vietnam Bank for Social Policies (VBSP) has announced it will suspend interest payments for borrowers affected by Typhoon Yagi and the subsequent flooding until December 31.
public warned to be wary with online booking forms

Public warned to be wary with online booking forms

A number of online travel booking platforms are facing growing concerns over customer credit card security, with experts advising the use of secure payment methods to prevent fraud and unauthorised charges.
cross border qr codes begin to take shape

Cross-border QR codes begin to take shape

Vietnam is gradually advancing its cashless payment infrastructure by establishing cross-border QR code payment systems with neighbouring countries, though challenges remain in fully integrating inbound payments from foreign tourists.
citi hosts e commerce and technology summit 2024

Citi hosts E-Commerce and Technology Summit 2024

Citi held the E-commerce and Technology Summit 2024 on August 21 in Ho Chi Minh City, focusing on sector growth in Southeast Asia.
lenders still most active in corporate bond issuance

Lenders still most active in corporate bond issuance

Vietnam’s corporate bond market is experiencing a resurgence, but delayed payments and other factors continue to make dents in the sector.
uob becomes bank of choice for aspiring asean consumers

UOB becomes bank of choice for aspiring ASEAN consumers

United Overseas Bank (UOB), Southeast Asia’s third-largest bank by assets, is tapping into megatrends in the region to drive its growth, positioning itself on capturing the rising ASEAN consumer spend and cross-border payments.
widespread adoption of digital payments taking hold

Widespread adoption of digital payments taking hold

Vietnam’s payment sector is rapidly growing, with significant advancements in mobile money, QR code transactions, and e-wallet services led by dozens of payment intermediary organisations.
vnpay services attain global security certification

VNPAY services attain global security certification

VNPAY has achieved Payment Card Industry Data Security Standard (PCI DSS) Level 1 international security certificate from ControlCase after meeting stringent information security and data management requirements.
experts discuss payments innovation at citi roadshows

Experts discuss payments innovation at Citi roadshows

Innovations in cross border payments were the main theme of Financial Institutions Asia Pacific Roadshow events in Hanoi and Ho Chi Minh City organised by Citi Vietnam.
singapore headquartered sunrate debuts in vietnams payment landscape

Singapore-headquartered Sunrate debuts in Vietnam's payment landscape

Singapore-headquartered Sunrate, an intelligent global payment and treasury management platform, backed by global investors such as Peak XV Partners, Prosperity7 Ventures, and SBVA, announced its official launch in Vietnam on August 1.
vietnam accelerating towards a cashless society

Vietnam accelerating towards a cashless society

For the first time, the Vietnamese legal framework formally defines electronic money. Under Decree No.52/2024/ND-CP, electronic money is “the value of Vietnamese currency co-stored on electronic means provided on a reciprocal basis with the amount prepaid by customers to banks, foreign bank branches, and intermediary payment service providers providing e-wallet services.” This definition establishes electronic money as a digital form of Vietnam’s legal currency.
visa report shows top scams impacting consumers and businesses globally

Visa report shows top scams impacting consumers and businesses globally

Visa released the spring 2024 edition of its Biannual Threats Report on July 24, outlining the top payment threats to consumers and businesses around the world.