Vietnam's Two Largest Card Alliances to Integrate
Smartlink and Banknetvn, two largest bankcard alliances in Vietnam, will link their card payment systems to each others, helping to boost non-cash payment in the country, the Voice of Vietnam said on May 19.
The event will be announced at the Banking Vietnam 2008 held May 23.
The connection of these two largest networks will be a premise for a strong card payment system, enabling to link all card issuers nationwide in the future, said Ta Quang Tien, director of the Informatics Technology Department, under the State Bank of Vietnam.
Smartlink and Banknetvn are now accounting for 90 per cent of bankcard users in Vietnam.
The current three card alliances are Smartlink with 25 members having 2,056 ATMs and 17,502 POS terminals, VNBC with five members having the respective figures of 783 and 1,682, and Banknetvn with 2,654 and 10,548. (VOV, SGT)
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