HSBC, Mastercard launch new credit card in Viet Nam

Tuesday, May 23, 2023 07:28

Representatives of the two firms pose for a photo at the launch of HSBC TravelOne credit card in Viet Nam. — Photo courtesy of HSBC

HSBC Bank (Vietnam) Ltd. (HSBC Vietnam) and Mastercard have announced the launch of the HSBC TravelOne credit card in Viet Nam, tailored for travel enthusiasts who want greater flexibility, convenience and incentives as they embrace new experiences in the post-pandemic travel boom.

Launched in partnership with Mastercard, the HSBC TravelOne credit card offers an easy rewards redemption experience with a wide range of international airlines and hotel partners via the HSBC Vietnam mobile banking app. HSBC is one of the first banks in Viet Nam to offer customers the convenience of instantly redeeming their card reward points for a wide range of airline miles and hotel stays via their mobile app.

Viet Nam is one of the first batch of markets where HSBC will launch this card. TravelOne credit card furthers HSBC's wealth and personal banking strategy by meeting the borrowing needs of the growing middle class in ASEAN countries, which are expected to rise rapidly. The bank aims to achieve strong growth in unsecured lending business revenue in Southeast Asia.

Viet Nam is set to become the 10th largest global consumer market by 2030, bigger than Germany and the UK. It is among five Asian countries which are expected to see the fastest growth in their consumer markets – with the population earning more than US$20 per day in constant PPP terms – in the current decade (2021-2030). — VNS

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