Visa awards local partners for outstanding contributions to electronic payments

April 02, 2014 | 16:00

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Visa has recognised a number of its local bank and commercial partners with awards for their commitment to electronic payments in Vietnam during 2013.

visa awards local partners for outstanding contributions to electronic payments

“We are very pleased with the proactive and innovative ways in which our partners have committed to the development of electronic payments in Vietnam,” Sean Preston, vice president, Southeast Asia, Visa, said.

In a recent survey commissioned by Visa, 53 per cent of respondents indicated that they felt they were being smart with their money when using credit cards, while 38 per cent expressed this sentiment towards debit cards. Only 30 per cent felt smart using cash. Furthermore, 42 per cent of respondents felt safe carrying credit cards, but only 20 per cent felt safe carrying cash. This study revealed that Vietnamese consumers are becoming much more knowledgeable about card usage and financial management.

“We look forward to continued cooperation with our partner banks in Vietnam as we continue to provide the benefits of electronic payment to the people of Vietnam,” Preston said.

The Visa Vietnam Bank Awards 2014 are spread across eight categories, with each highlighting the different ways in which banks have worked to improve uptake, acceptance, and attitudes towards card payments.

The winners in each category are:

• Leadership in Payment Volume: Vietcombank, HSBC, Techcombank

• Leadership in Merchant Sales Volume Contributions: Vietcombank, Vietinbank, BIDV

• Leadership in Cardholder Redemption of Visa Promotions: HSBC

• Emerging Payment Volume: ACB, Shinhan Bank

• Leadership in Acquiring Innovation: Vietinbank, OceanBank, PV Oil, Citibank Vietnam

• Leadership in Issuer Innovation: Techcombank, Vietnam Airlines, Agribank

• Leadership in Spend per Card: Eximbank, Techcombank, Standard Chartered Bank, Military Bank

• Leadership in Cards: Sacombank, ANZ

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional