Official launch of the first co-branded card between NAPAS, Mastercard and 6 Vietnamese banks

This is considered an important step in the strategic cooperation between NAPAS and Mastercard to bring breakthroughs in the "one-touch - global connection" payment experience for consumers.

The NAPAS – Mastercard co-branded card is deployed based on an innovative solution, allowing the integration of NAPAS card features and Mastercard international cards in the same physical card. This will help provide consumers with a seamless payment method not only domestically but also internationally, meeting the shopping, travel , study, etc. needs of all people, especially in the development and international integration trend of Vietnam.

NAPAS – Mastercard co-branded card launching ceremony - Photo: VGP/HT

With just one NAPAS – Mastercard Co-branded Card, cardholders can easily pay at more than 650,000 payment acceptance points and withdraw money at more than 20,000 ATMs in the NAPAS network in Vietnam, while expanding the scope of payment at more than 150 million payment acceptance points and withdraw money at more than 1 million ATMs in the Mastercard network worldwide. In addition, the Co-branded Card can also be used for online payment on domestic and international e-commerce sites, bringing convenience, speed and a seamless experience to customers.

Leaders of NAPAS, Mastercard and representatives of 6 banks issuing co-branded cards - Photo: VGP/HT

Notably, the NAPAS – Mastercard Co-Branded Card integrates two standards into a physical chip on the card, including the VCCS standard for NAPAS cards and M/Chip for Mastercard cards, while meeting the security standards of the EMV International Organization. The card supports both contact and contactless payment methods. Depending on the needs, when customers register to open a NAPAS – Mastercard Co-Branded Card, banks can issue NAPAS debit or credit cards, along with Mastercard debit cards.

In addition to optimal, safe and secure payment experiences, customers can also benefit from attractive promotions and incentives from both NAPAS and Mastercard networks, thereby supporting flexible and fast transaction processing while promoting customers' smart consumption habits.

For commercial banks, the benefits of implementing Co-branded Cards will help them save costs in issuing multiple card products to customers, bring strong growth potential in transaction sales in domestic and international networks, and increase customer engagement by owning convenient, superior card products with many incentives.

Sharing about the launch of the NAPAS – Mastercard co-branded card, Mr. Nguyen Hoang Long, Deputy General Director of NAPAS said: In more than 20 years of operation, NAPAS has always accompanied and been present with the development milestones of the Vietnamese payment market. In addition to existing card lines such as domestic debit and credit cards, the launch of the NAPAS – Mastercard co-branded card will contribute to expanding the payment capabilities of domestic cards in international markets, bringing a seamless payment experience, without geographical limitations for NAPAS cardholders.

"We "We expect this product will better meet the shopping, travel, study,... needs of all people, especially customers who love new technology with high safety and security features, and have flexible travel and payment needs domestically and internationally," said Mr. Nguyen Hoang Long.

"In the face of the strong development of commerce and technology in Vietnam, Mastercard is committed to continuous innovation to meet the increasingly diverse needs of consumers. The cooperation with NAPAS and leading financial institutions demonstrates our long-term commitment to promoting financial inclusion and innovation. The launch of the co-branded card not only opens up a safe and flexible payment solution but also meets practical needs, contributing to promoting sustainable economic growth in the digital age," said Ms. Winnie Wong, Country Manager for Vietnam, Laos and Cambodia, Mastercard.

It can be said that the launch of the NAPAS – Mastercard Co-branded Card also marks the first appearance of a Co-branded Card product between a domestic switching organization and an international card organization in the Vietnamese payment market. Not only is it a financial product, it is also a symbol of the continuous efforts in innovation, creativity and international cooperation, demonstrating the long-term vision and commitment of NAPAS and Mastercard in promoting the field of non-cash payments.

In the initial phase of implementing the Co-branded Card, NAPAS and Mastercard have cooperated with the first 6 commercial banks to participate in the issuance, including: Agribank , BIDV, TPBank, Nam A Bank, PVcomBank and Vikki Bank . In the next plan, NAPAS and Mastercard will continue to expand the product to the commercial banking system, aiming to provide global payment products and services to Vietnamese consumers.

For detailed information about the Co-branded Card product, users can find out through the official website system of NAPAS and Mastercard, or directly contact the customer support channels of the 6 card-issuing banks mentioned above for advice and card issuance support.

Vietnam National Payment Joint Stock Company (NAPAS) is a licensed payment intermediary providing financial switching services and electronic clearing services in Vietnam. NAPAS card (also known as ATM card) is a payment card issued by 54 Vietnamese banks and financial companies, the card number starts with 9704 issued by the State Bank of Vietnam. NAPAS card applies advanced chip technology, deployed according to the VCCS standard set issued by NAPAS, on the basis of conformity and compliance with the regulations in the basic standard set on domestic cards of the State Bank of Vietnam and international standards EMV. NAPAS card is accepted for payment at more than 650,000 payment acceptance points and cash withdrawals at more than 20,000 ATMs nationwide. In addition, NAPAS card is used to pay bills online on e-commerce sites, online payment sites on the National Public Service Portal and VNeID application,... NAPAS cardholders can use it in Korea, Thailand, Malaysia, Laos, Korea...

Mr. Minh

Source: https://baochinhphu.vn/chinh-thuc-ra-mat-the-dong-thuong-hieu-dau-tien-giua-napas-mastercard-va-6-ngan-hang-viet-102250515190441743.htm