Shin Dong Min, CEO of Shinhan Bank in Viet Nam (right), and Dang Tuyet Dung, a Visa country manager in Viet Nam and Laos, at the 2018 Global Service Quality awards ceremony. — VNA/VNS Photo
The Shinhan Bank Viet Nam Limited was honoured to receive the 2018 Global Service Quality award from Visa for being the "Bank with the highest authorisation approval rate for commercial debit cards in 2018".
Shinhan was the only bank in Southeast Asia to receive this prestigious award last year.
The Global Service Quality awards given by Visa since 1992 recognise exceptional card operations performance by issuers, acquirers and processors around the world.
Visa assesses its global clients by eligibility requirements and recognizes the highest-performing banks in each key area.
To win one of the awards, banks must ensure they achieve a certain number of VisaNet processing transactions and maintain good operation performance with Visa.
For the award for "Bank with the highest authorization approval rate for commercial debit cards in 2018", recipients are evaluated based on the total number of approved transactions over total number of requested transactions for commercial debit cards.
This award is recognition for the excellent card products and optimal experience brought by Shinhan Bank to its customers through commercial debit card transactions.
Shinhan Bank ensures customers can transact efficiently and smoothly at card acceptance points and online in countries around the world, and minimises the risk of fraud during the transactions.
Shin Dong Min, CEO of Shinhan Bank in Viet Nam, said the Global Service Quality award given by Visa is a recognition of the enduring efforts made by Shinhan Bank to issue utility card products and maintain a high number of successful, quick and safe card transactions.
“In future Shinhan Bank will continue to introduce new cards on the basis of customers needs and research and strengthen its partnership with merchants to bring customers more benefits.”
At the award ceremony, Dang Tuyet Dung, a Visa country manager in Viet Nam and Laos, said: “At Visa, we believe that to achieve fast growth, enhance convenience and increase benefits, exclusive consumer experiences in digital payments, requiring tight and continuously improving partnerships between banks and transaction processors around the world.
“Therefore, we would like to record our appreciation of Shinhan Bank for having a high rate of authorised transactions via commercial debit cards and providing outstanding and consistent services.
“Visa and our partner banks in general and Shinhan Bank in particular are committed to delivering the best payment experiences for Vietnamese consumers, and will continue to build our relationships to achieve our goals.”
In 2019 Shinhan Bank constantly received three additional awards for payment service quality from some top global banks.
They included "Wells Fargo's Special Recognition" given by Wells Fargo Bank in recognition of the efforts and quality of its international payments processing, the 2018 USD Operational Excellence Award from Deutsche Bank for its efforts to develop and optimise the process of automatic foreign currency digital payments and the 2018 Elite Quality Recognition Award from JP Morgan for developing and improving automatic foreign currency remittance services to optimally serve customers' international remittance needs. — VNS