First bank enables cardless cash withdrawal

Monday, Nov 05, 2018 16:15

A customer withdraws cash from an ATM by QR code. — VNS Photo

TPBank is the first bank in Viet Nam to allow cash withdrawals using a QR Code at both its ATMs and Livebank service without needing a card.

TPBank on Monday said it had completed an update allowing cash withdrawals by QR Code. To use the function, customers need to download QuickPay for iPhone or Android phones, then connect their bank account to QuickPay.

The bank said cash withdrawals by QR Code provide safety, speed and convenience to customers.

In addition to cash withdrawals, the bank’s QR Code could be also used for payment at thousands of shops or vending machines nationwide.

Previously, TPBank was one of the first banks to complete the issuance of domestic chip cards with integrated contactless payment features based on the domestic chip standard of the State Bank of Viet Nam.

This increases security, in the context of Viet Nam being the focal point of data theft because most domestic cards in Viet Nam are magnetic cards that can be copied easily. — VNS

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