HÀ NỘI — Vietnam International Bank (VIB) has launched VIB PayFlex, a ground-breaking financial feature built on the Visa Flexible Credential (VFC) platform. This pioneering rollout marks the first use of Visa's VFC technology in Việt Nam, enabling VIB Visa cardholders to flexibly make payments from both credit and debit accounts with a single card. The innovation offers enhanced financial control and maximises rewards for users.

“At VIB, we’re committed to applying advanced technologies to deliver superior financial solutions and elevate customer experience,” said Tường Nguyễn, Deputy CEO and Head of Cards at VIB.

“VIB PayFlex is a strong testament to that commitment. We believe this feature will transform how customers manage daily spending, giving them maximum flexibility and financial control with just one card,” she said. 

Smart financial control, maximised benefits

VIB PayFlex gives users greater control over their spending by allowing them to customise the funding source — credit or debit — for different transaction types, including e-commerce, international purchases, contactless payments, specific transaction values or even a one-time payment. This flexibility enables cardholders to align spending with their personal financial goals, optimising both budget management and rewards.

Seamlessly integrated into the MyVIB Digital Banking App, VIB PayFlex transforms the way users manage their finances by allowing instant switching between credit and debit accounts with just a few taps. This innovation eliminates the need to carry or remember multiple cards, effectively merging debit and credit functions into a single, smart spending tool.

Unlike traditional '2-in-1' cards that depend on chip-based selection or default settings, PayFlex offers real-time control via the app, delivering unmatched financial flexibility. Users can, for example, allocate everyday purchases to their debit account for better budgeting, while reserving their credit account for larger transactions to benefit from promotions, interest-free periods or installment options.

Advanced security, reduced risk

VIB PayFlex is built on advanced security technologies from VIB and Visa, giving cardholders peace of mind when transacting online or in-store. By consolidating debit and credit functionality into a single card managed through the MyVIB app, users no longer need to juggle multiple cards or worry about data exposure on digital platforms.

With real-time control over payment sources, PayFlex reduces the risk of using the wrong card, especially at POS terminals, ensuring users always receive the intended rewards and offers. To make the experience even more seamless, VIB is offering free credit cards to eligible existing Visa debit cardholders based on their spending history. These users can instantly configure their card as debit or credit via the MyVIB app — no need to wait for a physical card, update saved card details or remember new information.

A market-leading vision

As global demand for flexible, integrated payment solutions grows, VFC technology is proving to be a game-changer. In Japan, the VFC-powered Olive card has already attracted over five million users, underscoring the strong market appeal of multifunctional payment tools.

By becoming one of the first banks to implement VFC in Việt Nam, VIB is strategically positioning itself as a proactive innovator — not merely reacting to market pressures, but leading with proven global solutions. This move reinforces VIB’s position as a trendsetter in Việt Nam’s card industry.

“Visa’s VFC is a ground-breaking technology,” said Đặng Tuyết Dung, Country Manager for Visa Việt Nam and Laos.

“VIB’s rapid rollout of PayFlex demonstrates the bank’s vision and commitment to bringing cutting-edge payment innovations to Vietnamese users. We believe this partnership will accelerate cashless payments and greatly enhance the financial experience for customers,” she said. 

By embracing Visa’s VFC technology, VIB isn’t just following global trends — it’s helping to set them in Việt Nam. This strategic move positions the bank as a pioneer in the local card industry, reinforcing its role as a leader in digital banking innovation.

To mark the launch, VIB is offering early access to PayFlex for select existing customers until June 30. Starting July 1, the feature will be available to all interested users, with early adopters receiving welcome gifts worth up to VNĐ500,000. — VNS