Visa Cards See 100 per cent Annual Growth in Vietnam

Number of Visa cards issued in Vietnam has reached 300,000 cards so far, representing a robust growth of 100 per cent annually since the company entered Vietnam.

 

Visa said that the payment card market is developing very fast in Vietnam. The company, and other commercial banks, often issued two main kinds: credit and debit cards, with debit ones holding more than a half of cards in the country.

 

Vietnam will continue to see high demand and growth of payment card market in the future because the market is standing at the point of departure, Visa said.

 

There are about 12,000 points of sale (POS) as well as 2,500 automated telling machines (ATM) accepting Visa cards in Vietnam, compared with 24 million POS and 1 million ATM in the world.

 

Earlier this year, Stuart Tomlinson, Visa chief representative and country manager for Vietnam, Cambodia and Laos, said the number of Visa cardholders in Vietnam was growing fast due to the sharp rise in the number of bank account holders, who are demanding more sophisticated banking products.