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Hanoi (VNA) – The National Payment Corporation of Vietnam (Napas) and seven domestic banks recently launched domestic credit chip cards with unified standards to promote cashless payments and tackle black credit. The seven banks are Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank), Ban Viet Joint Stock Commercial Bank (Viet Capital Bank), Asia Commercial Bank (ACB), HCM City Housing Development Commercial Joint Stock Bank (HDB), Bao Viet Bank (BVB), Sai Gon Thuong Tin (Sacombank) and Vietnam Thuong Tin (Vietbank). The cards will be accepted at more than 235,300 points of sale and 14,380 ATMs nationwide. Cardholders can also withdraw cash at ATMs of Napas’ partners in the Republic of Korea and ASEAN countries of Thailand and Malaysia. Cardholders will be given an interest-free period of up to 55 days compared to the typical 45 days. The acceptance points will have to pay fees of about 1.1-1.3 percent of the transaction values, lower than other … [Read more...] about Banks launch domestic credit chip cards

Still, Vietnamese enterprises, especially small- and medium-sized enterprises (SMEs), are still struggling with the concept of digital transformation. According to a 2019 survey conducted by Asia IoT Business Platform, 13.2 per cent of local enterprises surveyed claimed that digital transformation is not present within the organisation, as compared to only 8.4 per cent and 8.8 per cent of those in Indonesia and Thailand respectively. Furthermore, a report by the Vietnam Chamber of Commerce (VCCI) states that SMEs account for 97 per cent of the total number of enterprises in Vietnam. Around 80-90 per cent of the machines used in their operations are imported and nearly 80 per cent are obsolete technologies from the 1980s and 1990s. … [Read more...] about Grappling with digital evolution

Brando Brandstaeter, Head of Brands & Communications at Midea Group's International Business Division, commented: "We were thrilled to announce our partnership with Manchester City at the start of 2020. In light of the pandemic, we mobilised our teams to create the #MideaHomeChallenge, which helped kick-off the partnership in an unexpected but even more engaging way. The cooperation with Manchester City during these challenging times has given us the confidence to expand and strengthen our relationship with the City Football Group by adding Manchester City Women's and New York City FC and Mumbai City to our roster -- something I am very much looking forward to bring to life for Midea in 2021."   … [Read more...] about Midea Expands Partnership with Manchester City & City Football Group

Last year it won many prestigious honours from renowned Vietnamese and international organisations including for Top 50 Best Listed Companies, the Vietnam - ASEAN Outstanding Enterprise award, Mid-sized Domestic Retail Bank of the Year award, and Best Companies To Work For in Asia award for a third consecutive year. … [Read more...] about HDBank achieves 2020 targets, bad debts ratio at a mere 0.93%