VPBank, Mastercard Join Hands with Amazon Web Services to Help SMEs Improve Operational Efficiency

On October 13, 2020, VPBank and Mastercard announced a collaboration with Amazon Web Services (AWS) to help small and medium enterprises (SMEs) in Vietnam use AWS cloud to modernize IT infrastructure, accelerate innovation and reduce operational costs. Under the collaboration, VPBank offers VPBank Mastercard Business credit card (VPBiz) to SMEs to pay for AWS cloud consumption. VPBiz cardholders are eligible to receive cloud credits from AWS, technical supports as well as consultation service from the members of the AWS Partner Network. 

The COVID-19 pandemic has taken a heavy toll on businesses, especially SMEs, and created an added sense of urgency around the need to digitalize and move operations online. According to The Asian Banker, there is only 4.1% of credit cards issued for Vietnamese adults and as a result, there are many SMEs who do not have credit cards to sign up for the cloud services or face shortage of credit limit to pay for the services.

Under this collaboration, VPBank customers who apply for this Mastercard credit card and create an AWS Account will receive $100 promotional credit to their AWS account. In addition, VTI Cloud Company, an advanced member of AWS Partner Program, will provide technical consultation on various topics such as how to move Windows/SAP workloads from on-premise infrastructure to AWS cloud as well as AWS cloud migration fee discount up to $3,000. VPBiz cardholders can also enjoy special offers of the free training course “Mastering AWS in 60 minutes” as well as a 2% discount on any AWS service from TechX – AWS Advanced Partner.

This privilege not only helps businesses to successfully start using AWS cloud, it will also allow them to benefit from the pay per consumption model and effectively expand their business and grow. By removing the upfront heavy infrastructure investments needed, AWS cloud will also help enterprises focus on running their business with agility, enable them to innovate and increase operational efficiency.

In addition, VPBank customers will also receive additional benefits from the Independent Software Vendors (ISVs) who build digital software for enterprise systems on AWS. These companies include DataBrain Company, offering free 6 months (for a maximum of 100 employees) of its FacePass Check-in service for 3 offices or factories; Kiu Global company, providing 1 month free of its Kiu BMP business management platform with free module training time of up to 24 hours; and L.E.T. Jsc., offering 3 months free of its Bitrix24 business administration software, specific to the real estate industry.

Customers who successfully sign up for the program also enjoy training courses  for their employees from the business related functions, on the AWS Business Essential Day, and from technical functions on the AWS Technical Essential Day provided by AWS Training and Certificates team. Moreover, customers also receive AWS training courses and examination vouchers up to 7 million from AWS APN Training partner - Trainocate.

VPBank will also provide additional financial incentives to the cardholders such as credit card limit of up to 100 million VND, overdraft of up to 200 million VND, cashback of 3% - 5% when businesses use VPBank’s debit cards or VPBiz credit cards for their AWS cloud services consumption.

Mr. Dao Gia Hung, Deputy Director of VPBank’s SME sector said that this credit card issued by VPBank is the first financial offering for enterprise customers in Vietnam using AWS cloud. The cooperation between VPBank and Amazon Web Services is one of the activities specifying the goal of providing comprehensive SME support services that VPBank is trying to implement, especially in the context of the joint venture. SMEs still have many difficult problems in finance, market development and resources while they still be able to approach technology to help them increase revenue and go to market quickly.

“These are largely unprecedented times for SMEs in Vietnam. As these smaller business plan for recovery post-COVID, deep, collaborative solutions are necessary to enable businesses to resolve the most critical present issues, while preparing them for a market landscape that will look very different in the future. Mastercard is excited to offer its advanced payment technologies and deep market insights, in partnership with two other industry leaders, to help Vietnamese SMEs realize their full potential,” said Winnie Wong, Country Manager, Vietnam, Mastercard.

Since the beginning of 2020, in the face of complicated developments of the Covid-19 epidemic, VPBank has been one of the pioneering banks to support the SME community nationwide with a series of other financial and non-financial supports. These include: 1% reduction in interest rates, debt rescheduling, loan restructuring, many free Internet Banking services as well as online business training, such as a business administration course by Dr. Le Tham Duong and many other famous experts.

For more information on the program, please visit the program’s landing page: https://www.tiepsucdn.vpbanksme.vn/

D.A (Vietnam Business Forum)