HCM CITY (Biz Hub) — Twenty years after coming to Viet Nam, Visa has announced it has crossed the five million card mark in the country.

"Viet Nam is one of the fastest growing markets for Visa across the globe. We've made some fantastic progress in growing electronic payments here in the past 20 years, but there's still a lot of work to be done," said Sean Preston, the company's country manager for Viet Nam,

This year the company achieved strong growth in Viet Nam despite a downturn in global economic conditions, with the total payment volume through Visa cards growing by 44 per cent.

Preston said his company would continue to expand in Viet Nam in the coming years and introduce many new products.

It will include a new card called Visa payWave in 2016, which is a contactless payment technology – a scanner is used — that is quicker and more convenient. — VNS