In recent years, the digital transformation race has been extremely exciting, especially in the banking sector. Most banks are accelerating their transformation to both improve service quality, attract customers, optimize operational processes, and promote growth.
Not out of that trend, VietABank has quickly launched a digital transformation strategy by implementing the Core Banking upgrade project. After more than 1 year of implementation, VietABank has successfully converted the Core Banking system in use to the most advanced new version today - Oracle Flexcube 14.7.
Immediately after operating the new Core Banking system, on July 4, 2023, this bank immediately launched VietABank domestic credit card, a product that meets the need to spend first, pay later, used in Vietnam and some countries deployed by the National Payment Joint Stock Company of Vietnam (NAPAS).
Customers can request the bank to issue 1 main card and up to 3 supplementary cards. In particular, customers can own a card with a unique image, highly personalized by creating a personal image on the credit card background instead of the current fixed images.
NAPAS VietABank domestic credit card is outstanding with the following features: Withdraw money at VietABank ATM system and NAPAS member banks nationwide with lower fees than other credit cards; Interest-free period of up to 50 days (longest among credit cards); Pay for goods and services on electronic applications by scanning QR codes from August 1, 2023; Pay online on websites and e-commerce applications conveniently and quickly...
NAPAS has coordinated with 11 banks and 4 financial companies to issue domestic credit cards to people.
At the launching ceremony of the new Core Banking system, Mr. Cu Anh Tuan - Deputy General Director of VietABank said: "In parallel with the transition to the new Core Banking system, VietABank has carefully prepared for the launch of a series of convenient service products on the new core system platform and NAPAS VietABank domestic credit card is one of the first products. We have reason to believe that domestic credit cards in particular and digital banking products launched in the near future in general will provide interesting experiences, suitable for the trends and needs of the majority of Vietnamese customers."
The launch of domestic credit cards is an important step forward for VietABank, helping to improve the quality of products and services, meeting the management and operational requirements of the bank.
NAPAS domestic credit cards are cards issued by Vietnamese banks and financial companies. The cards are implemented with chip technology and VCCS standards issued by NAPAS, ensuring compliance with the State Bank's domestic chip card base standards as well as the international EMV Co...
In terms of features, domestic credit cardholders can use the card to pay directly at POS when purchasing goods or using services at card-accepting units; pay online on e-commerce sites or withdraw cash at ATMs. In addition, with the recent expansion of international cooperation by NAPAS, customers can also use NAPAS cards to pay at stores and shopping points in the payment acceptance network of BC Card Company when traveling or working in Korea.
In particular, through the function of spending first and paying later, domestic credit cards also provide a solution for people to access consumer credit sources from banks or financial companies, thereby helping to limit the form of black credit with many consequences for society.
Currently, NAPAS has coordinated with 11 banks and 4 financial companies to issue domestic credit cards to the people. In the coming time, NAPAS will continue to expand its member organizations and implement programs to promote spending habits using domestic credit cards.
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