Vietnam International Bank bags MasterCard’s innovation award hinh anh 1Arnab Ghosh, head of VIB’s Cards and Consumer Lending (R) receives the award. (Source:

MasterCard gave its Best Segment Solution Award to Vietnam International Bank (VIB) for its Classic debit card, making VIB the first Southeast Asian bank to win a prize from the world’s leading financial services corporation.

The award, among 20 categories in the annual Banking Innovation awards, aims to honour MasterCard’s important partners in the Asian-Pacific region, who have created innovative solutions to better their card services and meet the demands of different customers. The award is based on four criteria: strategy, innovation, influence and achievements.

VIB became dominant in the category thanks to its policy to refund up to 5 percent of each transaction, which is billed as an efficient strategy to change Vietnamese people’s cash-spending habits.

Speaking at the Banking Innovation Forum held in Kuala Lumpur, Malaysia from September 30 to October 1, Arnab Ghosh, head of VIB’s Cards and Consumer Lending highlighted that the award recognises VIB’s efforts to develop card services in a fiercely competitive market.

Launched in the Vietnamese market in October 2013, VIB’s Classic debit card has allowed its holders to use their VIB account at any automated teller machine worldwide, while facilitating safe online shopping.

With its prestige and MasterCard’s global network, the VIB Classic debit card is one of the best choices for travellers, businessmen, overseas students, and people who love technology and online shopping.

New customers will enjoy several of the bank’s preferential policies for a year.-VNA