Seven Banks Allowed to Issue Visa Debit Cards
Seven Vietnamese banks have been allowed to issue its new Visa Debit cards, which were introduced by Visa International on November 8.
Gordon Cooper, Visas chief representative in Vietnam, said the ACB, Eximbank, Incombank, Sacombank, SaigonBank, Techcombank, and Vietcombank would issue the debit cards from 2006.
The new card will replace Visa Electron because it is more widely accepted, he said.
Visa Debit is used an alternative to cash in purchasing, in which the funds are withdrawn directly from the purchaser’s checking or savings account at a bank.
The card will allow customers to connect with their accounts to withdraw cash via automatic telling machines (ATMs) and settle payments at more than 6,000 other points of sales in Vietnam.
Visa Debit card can also be used at over 24 million locations worldwide.
Visa International has partnered with 14 banks in Vietnam, issuing more than 80,000 Visa cards in the country.
Last year, transactions by Visa cards in Vietnam reached US$72 million, a growth by 78 per cent on-year.
B.T
Vietnamese
