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| Vietinbank has partnered with MasterCard to allow card users to pay for petrol at 18 stations of the Saigon Fuel Company in HCM City. — VNS Photo Thanh Vu |
HCM CITY (Biz Hub) – MasterCard, the global payment-service company, and the Saigon Commercial Bank have launched the SCB MasterCard, the first international credit card issued by the bank.
Other issuers of the card in Viet Nam include Vietcombank, Vietinbank and ACB.
The bank's general director, Vo Tan Hoang Van, expects to issue the card by the end of next year to at least 60 per cent of his individual customers, which now stand at 200,000.
SCB MasterCard holders will enjoy an free interest rate for 50 days, compared to 45 days as provided by other banks.
A contract was concluded last Friday with the Windsor Management Compan to offer deductions at hotels and restaurants under its management to the cardholders.
MasterCard had previously signed an agreement with the local VietUnion, which provides Payoo, a bill payment service.
The agreement enables customers to use MasterCards in the form of credit, debit and pre-payment for electricity, water, telephone, internet and TV bills online.
Next year the payment will also be done at Payoo's point-of-sale network of 800 units nationwide.
Arn Vogels, director of MasterCard in Indochina, said: "We're committed to developing advanced payment solutions to meet customers' diversified demands."
He added that this cooperation would enable a simpler and more convenient payment system and bring Viet Nam a step closer to a non-cash economy.
In another event, Vietinbank has worked with MasterCard to allow card users to pay for petrol at 18 stations of the Saigon Fuel Company in HCM City, beginning December 20. —VNS