Visa, Moca ink deal for card-on-file

Tuesday, Jul 13, 2021 09:07

Visa and Moca have tied up to encourage consumers to save their Visa payment card-on-file to make fast, convenient and secure online payments via Moca's payment solutions on the Grab app and other e-commerce platforms. — Photo Courtesy of Visa Vietnam

Visa and digital payment service Moca have called on users to save their Visa payment card-on-file to make fast online payments on the Grab app and other e-commerce platforms.

Card-on-file, which means saving card details on a trusted platform to simplify future purchases, offers security and convenience while shopping online with immediate updates on their transactions, they said.

This feature is a significant push towards the adoption of e-commerce by making purchasing seamless.

It keeps consumers and small businesses safe through Visa’s tokenisation technology, which replaces sensitive payment information with a unique identifier, or ‘token.’

At the announcement of the partnership, Dang Tuyet Dung, Visa’s country manager for Viet Nam and Laos, said: “As the payment landscape evolves rapidly around us, it is important for us all to adapt. Visa’s partnership with Moca offers speed, convenience and security to consumers, especially in the context of the COVID-19 pandemic and social distancing. We are hoping our partnership will bring these benefits to even more consumers across Viet Nam.”

The Visa Consumer Payment Attitudes study found that at least half of Vietnamese consumers use a super app on their mobile devices. Some 87 per cent of consumers use home delivery and 98 per cent of them have increased their usage during the pandemic.

Consumers also listed their top concern as the security required to protect mobile transactions, personal details and financial details.

Throwing their considerable weight behind this year’s cashless day campaign by the State Bank of Vietnam’s payment division and Tuoi Tre newspaper, Visa and Moca also offer an attractive promotion for first-time Visa cardholders who link their cards to the Grab app. They will enjoy a discount of up to VND40,000 for one GrabFood order with a value of VND80,000 or more on weekdays from now until September 1, 2021.

Moca partners with 25 banks and a digital bank in Viet Nam, helping users make safe, secure and convenient cashless payments. — VNS

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