4:01:07 PM | 3/6/2026
Mastercard, together with Vietnam Prosperity Joint Stock Commercial Bank (VPBank) and Dien May Xanh Investment Joint Stock Company (DMX), recently announced the launch of the VPBank MWG Mastercard Credit Card, the first credit card linked to the Vietnam’s largest multi-category electronics and consumer retail ecosystem. The collaboration aims to deliver everyday value for consumers while enhancing their digital lifestyles in support of Vietnam’s transition toward a more cashless and digitally enabled economy.
Vietnam’s cashless momentum continues to accelerate. In 2025, the State Bank of Vietnam reported that the total value of cashless payments reached approximately 28 times GDP, with non-cash transactions recording average annual growth of 58.86% in volume and 24.36% in value, underscoring the widespread adoption of digital payments nationwide. Mastercard’s New Payments Index report shows that Vietnam is leading digital finance adoption in Asia Pacific, with 94% of consumers using at least one new digital payment method in the past year, reflecting rapidly rising expectations for seamless, secure and integrated payment experiences in everyday life. The VPBank MWG Mastercard Credit Card brings Mastercard’s global payment technology together with VPBank’s strong local issuing and DMX’s retail capabilities to deliver a retail-anchored card proposition designed to meet the evolving needs of consumers at national scale.
Anchored within DMX’s extensive ecosystem – spanning The Gioi Di Dong, Dien May Xanh, TopZone, Bach Hoa Xanh, An Khang, AVAKids and more, with approximately 3,000+ outlets and online channels nationwide – the VPBank MWG Mastercard Credit Card is designed to integrate seamlessly into both high-frequency shopping journeys such as grocery and pharmacy purchases and higher-value electronics spending. The card offers up to 10% cashback across DMX brands, 4% cashback on Fashion & Dining, and 0.1% on other eligible spend, with simple monthly caps and attractive welcome benefits including first-year fee waivers under conditions, Vietnamese dong 400,000 welcome cashback, and 100,000 Qua Tang VIP points.
Built on Mastercard’s globally accepted, secure payments network, the card supports both domestic and international usage while meeting international standards for security and risk management. Consumers can complete end-to-end digital onboarding through VPBank and DMX’s Qua Tang VIP app, supported by an existing VPBank–DMX payments alliance that has already enabled around 3,000 retail locations to serve as financial-service touchpoints. This omnichannel distribution model accelerates access to credit at retail scale and extends financial services beyond traditional banking hours.
The launch of the VPBank MWG Mastercard Credit Card underscores the shared commitment to advancing secure, relevant and everyday digital payment experiences in Vietnam. Designed for real consumer spending behavior, the card applies retail-anchored rewards, seamless digital acquisition and omnichannel acceptance to support the growing preference for cashless payments in daily life.
“By bringing together VPBank’s strong issuing capabilities and DMX’s trusted retail ecosystem, Mastercard is helping deliver a card proposition that puts everyday value and simplicity at the center of the consumer experience, and reflects the evolving needs of consumers as daily life becomes more digital. This collaboration demonstrates how Mastercard empowers organisations to scale innovation, advancing secure digital payments and supporting Vietnam’s progress toward a more connected and cashless digital economy.” said Sharad Jain, Country Manager, Vietnam, Laos and Cambodia, Mastercard.
“VPBank is focused on making financial services more accessible, convenient and relevant to consumers’ everyday needs,” said VPBank representative. “By working closely with Mastercard and DMX, we are leveraging our strengths in digital onboarding and card operations to deliver a simple and rewarding credit card experience that integrates naturally into daily spending, creating meaningful and sustainable value for Vietnamese consumers.”
“At DMX, we collaborate closely with our partners to enhance the shopping experience across both in-store and online journeys,” said DMX representative. “The VPBank MWG Mastercard Credit Card allows us to extend more practical value to shoppers through everyday rewards and seamless payment experiences, in line with evolving consumer preferences for more convenient and cashless ways to pay.”
The VPBank MWG Mastercard Credit Card is now available nationwide, giving millions of Vietnamese consumers immediate access to richer rewards at familiar retail destinations, convenient digital access to credit and the confidence of Mastercard’s global acceptance and security standards. By embedding digital payments into everyday retail journeys at scale, the solution is expected to encourage wider use of cashless payments, strengthen trust in digital financial services and contribute to the continued development of a more inclusive digital economy in Vietnam.
Source: Vietnam Business Forum
Vietnamese
