Banks to introduce domestic credit chip cards to promote cashless payments

Banks to introduce domestic credit chip cards to promote cashless payments

The National Payment Corporation of Viet Nam (Napas) last week said it would work with seven banks to introduce domestic credit chip cards with unified standards to limit cash payments and tackle black credit.
First domestic chip cards launched

First domestic chip cards launched

The Vietnam Bank Card Association, in collaboration with the National Payment Corporation of Vietnam (NAPAS) and 7 commercial banks, launched the first domestic chip cards on May 28. 
Banks to issue chip cards in place of 21 million magnetic strip cards

Banks to issue chip cards in place of 21 million magnetic strip cards

Seven banks will start issuing ATM chip cards that meet EMV standards to replace magnetic strip cards in collaboration with the National Payment Corporation of Viet Nam starting from May 28.