VIB cooperates with American Express to launch Super Card white card line

The Super Card white card line offers up to 15% cashback, allowing users to choose card features according to their needs.

According to a VIB representative, with positive income growth and an increasingly younger age of first credit card holders, Vietnam is an ideal market for a cashless payment strategy. The cooperation between American Express (AMEX) and VIB is expected to bring new privileges to credit card users.

Accordingly, with the Super Card white card line, Vietnamese users are given full control and freedom to choose the card's features. Specifically, cardholders can proactively choose the feature of receiving bonus points or cashback up to 15% depending on the spending area, up to a maximum of one million VND per statement period. The digital product's features will help the subject to flexibly change the spending group/field according to the needs at each time. Second, cardholders can choose the last five digits of the card number. Third, cardholders can choose the statement date. Fourth, cardholders can choose the minimum payment amount and can change this limit in the first six statements of the card's life cycle.

VIB's new card line empowers users. Photo: VIB

Ms. Tuong Nguyen, VIB Card Strategy and Operations Director, said that American Express and its global partners have been providing credit cards to customers in many different countries and are constantly innovating based on the changing needs of users. This is considered an advantage for VIB when cooperating with this partner.

"This card line will be both a highlight in the cashless payment market and meet customers' needs," Ms. Tuong Nguyen shared.

Appreciating the potential of the Vietnamese market, Ms. Divya Jain, Vice President and General Manager of Global Service Network - Asia and South Pacific region of American Express, said that cooperating with VIB helps AMEX have the opportunity to expand the market.

"The launch of the Super Card white card line is part of our cooperation strategy with banking partner VIB to expand the network and increase transaction volume via credit cards," added Ms. Divya Jain.

Super Card is designed to be a pioneering product in the market for 100% digital cards (Digital Card) for the entire process from registration to card approval. The digital feature will bring a convenient experience to customers from opening a card, choosing features and changing utilities anytime, anywhere here or on the MyVIB 2.0 Digital Banking application.

Super Card aims to be a 100% digital card line. Photo: VIB

By the end of 2022, VIB recorded the number of credit cards exceeding half a million issued, a 5.5-fold increase compared to 2019. Total spending by Vietnamese people via VIB credit cards increased 8.5 times, from VND 700 billion per month (USD 30 million) in 2019, to VND 6,000 billion per month (over USD 2.7 billion) in 2022.

The bank representative said that this result comes from the strategy of "Leading the card trend" to the process of continuously increasing incentives for users, digitizing the card payment experience and always applying modern technology to the credit card products that this bank has deployed from 2019 to present.

"Although VIB is a brand that entered the credit card market quite late, it has actively innovated card trends based on a customer-centric platform. This is also the reason AMEX chose to cooperate with us," Ms. Tuong Nguyen added.

According to VIB representative, this is the condition for VIB to continue to launch card lines with unique features and satisfy most customers who want to improve their spending quality.

VIB integrates augmented reality into credit cards with virtual assistant Vie. Photo: VIB

Credit cards are one of VIB's core business segments, along with home loans, auto loans, business loans, and insurance, which the bank focuses on developing when implementing a strategy of shifting the proportion to retail and promoting digitalization. This bank has made a splash with its personalized credit card lines, with high technology content. Currently, VIB has nine different credit card lines and is preparing to launch a number of card lines with extremely new features to anticipate the smart spending trend of the Millenials and Genz generations, meeting different needs in all areas such as travel, shopping, online consumption, family spending, installment payments, gas...

American Express is a global integrated payment company, providing products and services that meet the needs and bring many experiences to customers in life and business.

An Nhien

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