The Vietnam Prosperity Bank (VPBank) on August 19 launched the first prepaid online Smartcash Visa Card in Vietnam with the aim of contributing to the country's e-commerce development.

The State Bank of Vietnam (SBV) has permitted the bank to pilot the cards for deposits, transfers, e-commerce transactions and cash withdrawals. The maximum limit for a prepaid virtual Visa SmartCash card will be 5 million VND (238 USD).

Speaking at the launch ceremony, Lorijion Bacchi, Visa country director to Vietnam , Laos and Cambodia , said the issue of the card marks an important step towards serving the bank's customers.

Online purchasing is becoming more popular in Vietnam . A research last year revealed that 67 percent of Vietnamese people went online everyday, 98 percent were looking for products online and 71 percent conducted transactions, she said.-VNA