Payment by Visa Cards Promoted in Vietnam

 

Ms Truong Minh Ha, country manager for Vietnam, Cambodia and Laos said that Visa Inc. (NYSE: V) has unveiled its first global advertising campaign, entitled “More People around the World Go with Visa,” reflecting the company’s evolution to a single, global company. The new campaign enables Visa to align its worldwide marketing under a single theme that highlights the superior value Visa delivers versus cash and checks – including more security, more control and more convenience. 

 

The campaign focuses on Visa’s core growth strategy - migrating consumer and business spending from cash and checks to the better form of electronic payment, Visa. The campaign establishes a single global marketing message that will be executed locally for maximum relevance, delivering Visa’s global message in an efficient and cost effective way.

 

Focusing on encouraging Visa usage over cash and checks, the campaign helps grow the payments business of Visa’s financial institution clients while enabling them to focus their marketing efforts on differentiating their Visa products from competitors and strengthening their customer relationships. The campaign also supports Visa merchant partners by promoting the convenience of using electronic payments in key merchant categories like restaurants and online music retailers, among others.

 

“Underpinning the campaign are Visa’s view of the world and how we operate as a company,” added Minh Ha. “Simply put, this campaign is an invitation that reflects Visa’s belief that our products are for anyone who wants to live life to the fullest.”

 

There would be promotions for new Visa cardholders, especially the youth in Vietnam and those traveling to this country. But she declined to provide further detail.

 

“Visa Inc. expected that the campaign would encourage more people to pay by Visa cards because of more security and more convenience in Vietnam, where the bank account penetration was very low”, Ha add.

 

The “More People Around the World Go with Visa” platform is relevant across all geographic regions and demographics, and will be used to promote both the vast product choices that Visa offers, as well as the Visa brand itself. The campaign is well suited for traditional and new media, and will support Visa’s global sponsorship properties and merchant marketing programs. 

 

According to Ross Jackson, Visa's marketing director for Southeast Asia “Our number one objective was to create a campaign that would migrate consumer and business spending from cash and checks to the better form of electronic payment, Visa. We also wanted a campaign that would work on a global scale while also connecting locally, and ‘Go’ is one of those few universal words that is broadly understood around the world.” 

 

Box: The number of Visa cardholders in Vietnam was growing from double to triple-digit rate, and Visa had attracted over 200,000 debit and credit cardholders in this country as of January 2007. Ha said this market held huge potential for the world’s largest retail electronic payments network provider given the fast growth in e-payment.

 

Over the past two years, more banks in Vietnam have issued and acquired Visa cards, and the current number is many banks and finance institutions such as ANZ, the Bank for Investment and Development of Vietnam (BIDV), Vietcombank. Viettinbank, Citibank, Eximbank, HSBC, Prudential Finance, Sacombank, Standard Chartered, etc. The target customers of Visa cards were not only business people and frequent travelers but also those who prefer payment by card.