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The country has seen a soar in investment this year (Photo: soha.vn) Hanoi (VNA) - Venture capital funding pouring into Vietnamese fintech companies accounted for 36 percent of the total fintech investment in Southeast Asia. The country has seen a soar in investment this year compared to 0.4 percent last year, according to the Fintech in ASEAN report released by the United Overseas Bank (UOB). Singapore took the leading position with 51 percent, down from 53 percent last year. Indonesia stepped down one place to third with 12 percent, compared to 37 percent last year. Thailand, Malaysia and the Philippines accounted for less than 2 percent of Southeast Asia's total fintech investment, down sharply from about 10 percent last year. In Vietnam, the leading field attracting venture capital in fintech companies was payment. VNPay, a Vietnamese e-payment solutions provider, took the lead in the report with total capital revealed to be 300 million USD this year. Singaporean insurance company … [Read more...] about Vietnam ranks second in fintech investment in Southeast Asia

Property developer FLC Group, which owns Bamboo Airways, has decided to buy 24 A321 Neo aircrafts worth 3 billion USD from French manufacturer Airbus. (Photo: vnexpress.net) Hanoi (VNA) – Property developer FLC Group, which owns Viet Bamboo Airways Company Limited (Bamboo Airways), has decided to buy 24 A321 Neo aircrafts worth 3 billion USD from French manufacturer Airbus. The decision was announced at a meeting in Hanoi on March 6 between FLC and Airbus. “After painstakingly studying all options, FLC Group and Bamboo Airways decided to order 24 aircrafts from Airbus until 2025. Based on operating and testing performance, we will seek more ways for further cooperation”, said the group’s chairman Trinh Van Quyet. Airbus A321 Neo is a new version, the biggest aircraft in the A320 model of Airbus. The 220-seat aircraft saves fuel and reduces emission and noise. It is a popular airplane that is being used by most airlines in the world, including Vietnam. … [Read more...] about FLC to spend 3 billion USD on buying 24 Airbus planes

FLC Group introduces its logo recognition for Bamboo Airways (Photo: FLC)   Hanoi (VNA) - FLC Group plans to open 40 local and international routes after its carrier, Bamboo Airways, becomes operational, said Dang Tat Thang, General Director of the airline. He made the announcement at the inauguration ceremony of the brand in Hanoi last week. He said the airline was planning its routes while waiting for approval of its licence. FLC plans to serve 24 domestic and 16 international routes. In Vietnam, the airline will connect tourism complexes, such as Thanh Hoa-Quy Nhon, Thanh Hoa-Phu Quoc, Thanh Hoa-Nha Trang and Hai Phong-Quy Nhon. In the international market, Bamboo Airways will cover Japan, the Republic of Korea, China, Singapore, Thailand, Hong Kong, Taiwan and the Philippines. It also plans to open flights to the US and Europe in the long term. The airline’s logo will be a stylised symbol of bamboo leaves and stems. “For us, the bamboo tree symbolises the … [Read more...] about Bamboo Airways to open 40 new routes

The National Payment Corporation of Vietnam (NAPAS) recently completed the building of a standard set for domestic cards (Photo: TPBank) Hanoi (VNA) - The National Payment Corporation of Vietnam (NAPAS) recently completed the building of a standard set for domestic cards, according to State Bank of Vietnam (SBV). The new set is compatible with EMV standards as well as standards of international card organisations such as Visa, MasterCard, JCB and UnionPay. NAPAS has handed over technical manuals to banks, point of sale (POS) terminal suppliers and card-issuing institutions so that they can adjust their systems in line with the new standards. With the new set, SBV expects 70 million bank cards in Vietnam, which are magnetic stripe ATM cards and can be easily hacked due to weak security features, to be replaced by chip cards with EMV standards by 2020 as planned. Earlier, international card-issuing organisations had recommended Vietnamese banks to use chip cards meeting EMV … [Read more...] about NAPAS completes standard set for domestic cards

Vietcombank domestic chip card has just been released (Photo: Vietnam+) Hanoi (VNA) - “By this time, the preparation process, infrastructure, resources, techniques ...is ready to support all commercial banks in the process of converting magnetic cards to chip cards, as required by the State Bank of Vietnam in Circular 41/2018 /TT-NHNN, amending Circular 19 on bank card operations. Vietnamese VCCS card chip set was also developed in accordance with specific standards for Vietnam market and compatible with EMW international standards." The information was revealed by Nguyen Quang Minh, Deputy General Director of the Vietnam National Payment Corporation (NAPAS) on the roadmap for converting magnetic card (ATM) to chip card. 70 percent of bank cards are ready Minh said that it is expected that from May 28, some commercial banks will start to issue ATM cards made of high-security chip technology to replace the existing magnetic stripe cards. In 2019, 21 million ATM cards will be … [Read more...] about 70 million magnetic stripe cards ready to be converted to chip cards