Speaking about the launch of PayFlex, Ms. Tuong Nguyen, Deputy General Director and Director of VIB Card Division, said: "VIB has always pioneered in applying technology to bring superior financial solutions and enhance customer experience. VIB PayFlex is a clear demonstration of that commitment. We believe that this feature will change the way customers manage their daily spending, giving cardholders maximum flexibility and financial control with just one card."
Smart financial control, optimal benefits
VIB PayFlex gives users smart financial control. Cardholders can flexibly set up payment sources for each type of transaction such as e-Commerce, foreign transactions, contactless transactions, or transactions by amount or next transaction. Thanks to that, all expenses are allocated reasonably and optimized according to personal financial management goals.
This feature is seamlessly integrated into the MyVIB digital banking application, helping users easily convert funds with just a few simple steps. This blurs the lines between card types, turning them into smart and unified spending support tools. Cardholders do not need to remember to use a payment card or credit card, just use the card installed via PayFlex.
This is a significant step forward compared to traditional "2-in-1" cards, which usually only allow the selection of funding sources via physical chips or pre-set default settings. The ability to control funding sources in real time via the MyVIB application brings unprecedented financial flexibility. Accordingly, cardholders can optimize cash flow and spending strategies, for example, choosing to use a debit account for daily expenses to easily manage their budget, and use a credit account for larger transactions to take advantage of incentives and interest-free periods or register for installment payments.
Security and safety, risk reduction
All transactions with VIB PayFlex are optimally secured by the most advanced technology of VIB and Visa, bringing absolute peace of mind to customers. No longer have to worry about remembering a lot of card information or fear of data leakage when transacting on online platforms, with PayFlex, cardholders only need to declare a single card and easily adjust the source of funds right on the MyVIB application. Using PayFlex also helps optimize payment benefits, limit the risk of choosing the wrong card, especially at points of sale (POS), ensuring that cardholders always receive the right benefits and incentives desired.
Currently, VIB is applying to give credit cards to VIB Visa payment cardholders (based on the payment card's spending history), bringing outstanding convenience. Cardholders can immediately set up a transaction source on their existing physical card, such as a credit card or a payment card via MyVIB, anytime, anywhere, without having to wait for the physical credit card to be issued, without having to replace card information on application/website platforms that have saved information, and without having to remember an additional card information when making a spending transaction.
Market leading vision
The global financial landscape is shifting strongly towards integrated and flexible payment solutions. A clear demonstration of this trend is the success of VFC technology. Typically in Japan, one of the developed financial markets, the Olive card line applying this technology has attracted more than 5 million users, affirming the undeniable appeal of multi-functional payment solutions.
VIB becoming one of the pioneering banks to bring VFC technology to Vietnam is a strategic move, demonstrating the bank's vision and initiative in meeting the needs of modern users. Instead of just reacting to competitive pressure, VIB aims to position itself as an innovator, leading the market by bringing superior and proven payment solutions in the world to domestic customers, thereby firmly consolidating its position as a leader in card trends in the market.
From now until June 30, 2025, VIB will offer this feature to selected existing VIB cardholders to enhance the experience for loyal customers. From July 1, 2025, VIB will officially deploy PayFlex to all customers who want to position themselves as leaders in personal financial management with gifts of up to VND 500,000 for the first customers to experience it.
Source: https://thanhnien.vn/vib-ra-mat-payflex-phat-trien-tren-cong-nghe-vfc-danh-cho-chu-the-visa-185250617094003422.htm
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