Vietnam to have first domestic chip cards in Q1 2019 Business

Vietnam to have first domestic chip cards in Q1 2019

Vietnam’s first domestic chip cards will be launched in the first quarter of 2019 to enhance safety and service quality of the country’s bank card operations, according to the National Payment Corporation of Vietnam (NAPAS).
Banks to work harder on cyber crime Sci-Tech

Banks to work harder on cyber crime

Cyber security is a hot issue globally and in Vietnam, concerns on the subject have been expressed by the Government and departments, especially in the field of banking – finance, said Le Manh Hung, director of the State Bank of Vietnam’s Information Technology Department.
Vietnam strives to reduce cash payment proportion Business

Vietnam strives to reduce cash payment proportion

The Vietnamese Government plans to reduce the cash payment proportion to less than 10 percent by 2020 and 8 percent by 2025, which can be done by expanding the network of automatic teller machines (ATMs) and points of sale (POS) nationwide.
Major Philippine bank encounters serious problem World

Major Philippine bank encounters serious problem

The Bank of the Philippine Islands (BPI), a major bank of the Philippines, had to shut down online transactions and automatic teller machines (ATMs) on June 7 after money went missing from accounts.
Deputy PM signs no-cash policy Business

Deputy PM signs no-cash policy

Deputy Prime Minister Vuong Dinh Hue has signed a decision encouraging cash-free transactions in Vietnam in order to reduce the number of cash-based deals and control tax evasion.
E-tax service to spread wings farther Business

E-tax service to spread wings farther

The General Department of Taxation will enable up to 1,000 enterprises in five provinces – Hanoi, Ho Chi Minh City, Bac Ninh, Dong Nai and Nghe An - to pay their tax online by the end of this year.
Business

Local banks push link to ATM network

Local bank-card companies are promoting the connection of their automatic teller machines (ATM) and point of sale (POS) systems nationwide to create convenience for customers and contribute to the development of non-cash payment tools in Vietnam.
Business

Bancassurance starts to boom in Vietnam

Insurance companies in Vietnam have started to work with commercial banks to introduce the Bancassurance Service to the country, hoping to raise revenues and expand their market share. 

Bancassurance includes a range of insurance products sold through banking networks and is also known as the Banking Insurance Model or BIM.