On the occasion of VP Bank issuing the VP Bank Platinum EMV Mastercard, Vietnam Business Forum reporter Lan Anh interviewed Mr Le Dac Son, Director General of the Bank for Private Enterprises (VP Bank)
Could you please introduce some prominent features of the VP Bank Platinum EMV Master Card compared to other cards on the market?
All credit cards currently in Vietnam are Golden card or Standard Card. Previously, VIP clients just registered for Golden cards, but now can approach another product called Platinum card, which is first introduced in Vietnam by VP Bank. This card brings many benefits not provided by Standard cards.
What benefits can Platinum’s users tap into?
This card is just issued for invited guests. Thanks to our strategic partner, OCBC Singapore, we give preferential services to card owners not only in card acceptance points in Vietnam but also in similar ones in Singapore and Malaysia. This is the first step of our long-term plan to increase service in other countries in the future. Besides, card owners can get other preferential services only for Platinum Master card owners such as global 24-hour service supporting clients overseas; Master card Moments, on the other hand, is one giving the clients many priorities including discount for the Platinum card owners.
What about the security of this card?
Platinum EMV Master Card of VP Bank conforms to standard of Europay, MasterCard and VISA (EMV), the standardized means of global payment by credit card and debit card with chip and other techniques accessing chips. The processing units inside the chips adhered to the card helps secure information on the chips against cheats and forgers. Moreover, if the card is lost or stolen, the bank will immediately lock up the chips and not allow any use. VP Bank is the first bank to introduce this new technique in Vietnam in order to lower risks and protect its clients.
Does the smaller system of branches of VP Bank than other joint stock banks make it inconvenient for customers to pay by credit card?
The scope of branches and ATMs of the bank is now being expanded. Up to now, VP Bank has had 87 branches and 60 ATMs working. From now to the end of the year, VP Bank will try their best to increase its branches and transaction offices up to 100-120 and fit up 250 more ATMs nationwide. VP Bank, moreover, is developing channels of e-payment to serve customers in the coming time.
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