Phạm Đức Duy (L), director of Sacombank’s management and business development centre, personal banking division,, receives the NAPAS award on behalf of the bank. — Photo courtesy of Sacombank

Sacombank received three awards given to outstanding member banks of 2023 by the National Payment Corporation of Vietnam at a ceremony in Phú Quốc.

It won for Bank with the Best POS Network, Bank with the Best Online Merchant Network and Dynamic Bank.

The awards once again testified to Sacombank's unceasing efforts to improve the customer experience and promote transactions using domestic cards.

In 2023, the lender has further invested in developing its card acceptance network to reach over 180,000 merchants for both contact and contactless transactions, the largest POS/soft POS system of any bank in the country.

NAPAS recorded nearly 60,000 POS that have generated transactions using domestic cards issued by Sacombank, and 9.1 million transactions were carried out.

Sacombank had online transactions worth over VNĐ1.88 trillion (US$77.1 million) through the NAPAS system, or 49.29 per cent of the latter’s total value.

Sacombank has also deployed the Whitelabel Ecommerce model.

These figures made Sacombank the only lender awarded by NAPAS in the "Bank with the Best POS Network" and "Bank with the Best Online Merchant Network" categories.

NAPAS also deeply appreciated Sacombank for its successful implementation of projects such as connecting international payments via the BC Card (Korea) and ThaiQR (Thailand); financial switching for JCB and American Express card transactions according to Circular 19 of the State Bank of Vietnam; and deploying VietQRCash (for both issuance and payment) and transportation payments.

Sacombank and NAPAS are deploying a full range of card lines to meet a variety of customer needs such as Sacombank Napas domestic payment cards, Sacombank Napas Easy Card credit cards, and Sacombank Napas Combo Card (integrating payment and credit cards in a single chip) with many outstanding utilities and regular promotions.

The two have also collaborated with other brands to launch affiliate cards such as Sacombank Vinamilk prepaid cards exclusively for that company’s agents.

Sacombank has expanded the VietQR network (for payment and money transfer using QR codes through the NAPAS network) to nearly 600,000 retail points across the country, even in rural and remote areas, to help promote cashless transactions in line with the Government and State Bank of Việt Nam’s directions. — VNS