This is considered an important step forward in the strategic cooperation process between NAPAS and Mastercard to bring breakthroughs in the "one-touch - global connection" payment experience to consumers.
The NAPAS - Mastercard co-branded card is deployed based on a creative solution, allowing the integration of the NAPAS card and the Mastercard international card in the same physical card.
This will help provide consumers with seamless payment methods not only domestically but also internationally, meeting the shopping, travel, learning... needs of all people, especially in the development and international integration trend of Vietnam.
With just a 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 NAPAS' network in Vietnam. At the same time, it has expanded its payment scope to more than 150 million payment acceptance points and withdrawals at more than 1 million ATMs in Mastercard's global network.
In addition, Co-branded Cards can also be used for online payment on domestic and international e-commerce sites, bringing convenience, speed as well as a seamless experience to customers.
Notably, the NAPAS - Mastercard co-branded card is integrated to deploy 2 standards into a physical chip on the card, including VCCS standards for NAPAS cards and M/Chip for Mastercard cards, while meeting security standards of EMV International.
The card supports both contact and non-contact payment methods. Depending on the needs, when customers register to open a NAPAS - Mastercard Co-branded Card, banks can issue a NAPAS debit card or credit card, along with a Mastercard developed credit card.
In addition to optimal, safe and secure payment experiences, customers can also benefit from attractive parallel promotions and incentives from both the networks of NAPAS and Mastercard, thereby supporting flexible processing of transactions quickly and promoting customers' smart consumption habits.
On the side of commercial banks, the benefits of implementing Co-branded Cards will help units save costs in issuing many card products to customers, bringing strong potential for growth in transaction turnover in domestic and international networks, increasing customer engagement by owning convenient, superior card products with many incentives.
Sharing about the launch event of the NAPAS - Mastercard Co-branded Card, Mr. Nguyen Hoang Long, Deputy General Director of NAPAS said:
During 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 capability of domestic cards in international markets, bringing a seamless payment experience, without limiting geographical scope for NAPAS cardholders.
We expect this product to better meet the shopping, travel, learning, etc. needs of all people - especially customers who love new technology with high safety and security features, and have the need to travel and pay flexibly domestically and internationally.
Faced with the strong development of trade and technology in Vietnam, Mastercard is committed to constantly innovating to meet the increasingly diverse needs of consumers. The partnership with NAPAS and leading financial institutions demonstrates our long-standing commitment to promoting inclusive finance and innovation.
The launch of a branded cooperation card not only opens up a safe and flexible payment solution but also suits practical needs, contributing to promoting sustainable economic growth in the digital age. - Ms. Winnie Wong, Country Director in Vietnam, Laos and Cambodia, Mastercard shared.
It can be said that the launch of the NAPAS - Mastercard Co-branded Card event also marks the first appearance of the Co-branded Card product between a domestic switching organization and an international card organization in the Vietnamese payment market.
Not only a financial product, it is also a symbol of continuous efforts in innovation, creativity and international cooperation, demonstrating the long-term vision and commitment of NAPAS and Mastercard in promoting the field of cashless payments.
In the initial phase of implementing the Co-branded Card, NAPAS and Mastercard have coordinated with the first 6 commercial banks participating 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 websites of NAPAS and Mastercard, or contact directly the customer support channels of the 6 card issuing banks mentioned above to support consultation and card issuance.
