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Despite high costs, domestic banks are issuing more chip cards that meet EMV standards to replace magnetic strip cards in order to improve security and meet the central bank’s regulations. Counterfeit transactions have fallen sharply with chip cards (Photo: vneconomy.vn) According to Pham Dang Khoa, deputy director of Vietinbank’s Card Centre, the biggest problem for banks when it comes to replacing magnetic strip cards is the cost. Banks have to pay for the new cards and invest in devices that accept them, such as ATMs and POS machines. Meanwhile, most customers are not willing to pay to switch. With more than eight million existing customers using magnetic strip cards, Khoa estimated his bank will have to spend a large sum as the cost of producing a chip card is roughly eight to ten times higher than magnetic strip cards. To encourage customers to use chip cards, Khoa said VietinBank would help customers replace their old cards due to … [Read more...] about VN banks issues more chip cards for security

First Lady of the Republic of Korea Kim Jung-sook and Vietnamese students in a group photo (Photo: VNA) Seoul (VNA) – First Lady of the Republic of Korea Kim Jung-sook has received 15 Vietnamese students in the presidential Blue House ahead of her husband President Moon Jae-in’s visit to Vietnam slated for March 22 – 24. Beginning the conversation by saying hello in Vietnamese, Kim introduced the RoK’s writing script and major socio-economic development features to the students. She took her guests around the Blue House, including the President’s working room, and briefed them on the building’s architecture, highlighting the architectural similarities between Vietnam and the RoK. The First Lady joyfully talked about the Vietnamese students’ interest in her country’s educational system and their decision to further their studies here. Expressing her empathy with the group on their difficulties while living away from home, Kim … [Read more...] about RoK First Lady meets Vietnamese students

A bespoke bamboo forest situated in Dien Duong ward of Dien Ban town in the central province of Quang Nam has rapidly developed into a hot new check-in point enjoyed by local youngsters. The bamboo forest is located approximately 10km south of Danang and 20km from Hoi An. Entrance tickets are free for visitors who wish to explore the bamboo forestVisiting tourists are often impressed by the site’s unique atmosphere and foliage which features several different types of bamboo, among other plants. The forest has become a fresh check-in point for guests to come and visit with the area being especially popular among young people.Bamboo trees can be seen planted on both sides of the path.The bamboo forest itself is situated close to a local paddy field and the Co Co riverA range of beautiful seasonal flowers can be seen growing throughout the forestMany young people have been visiting the area in recent times to reflect the growing interest in the forest. The bamboo forest is … [Read more...] about Young people flock to unique bamboo forest in Quang Nam