The State Bank of Vietnam (SBV) will this year complete all related legal frameworks for the use of plastic money – credit and debit cards, as well as other forms of electronic payment. It will also release national criteria for the issuance of domestic credit cards and implement a project to develop automatic payment systems for retail banking services. These steps will be taken as part of the... 

* SBV to launch card switching center by year-end Bank cards are mainly used for cash withdrawal in the country, with the total withdrawn money accounting for 82% of the total transaction value conducted via the ATM system, said the Vietnam Bank Card Association. The association stated bank cards are not used as an efficient non-cash payment instrument. Instead, banks must store a huge sum of cash... 

The State Bank of Vietnam (SBV) has many times rejected proposal for charging ATM (automatic teller machine) transaction fees. However, SBV governor Nguyen Van Binh recently has given the green light for the proposal, saying that banks will collect fees on ATM transactions after all ATMs in the country are joined in a common network. Over 40 million ATM cards have been issued nationwide so far,... 

Total non-cash payments in Vietnam reached $32 billion by late 2011, showing that consumers are increasingly using bank cards for their transaction, according to the Bank Card Association. The Dong A Joint Stock Commercial Bank (DongABank) is one of the banks with the largest number of cards issued, with more than 6 million cards. Non-cash payments using the bank’s cards in 2011 increased by... 

Holders of six popular international cards namely VISA, MasterCard, American Express, JCB, Diner Club and CUP can now withdraw cash from the ATM system of Saigon Commercial Bank (SCB). This program is carried out by SCB in coordination with Vietcombank and Smartlink Card Services Co. to create conveniences for holders of international cards via ATMs, the bank said in a statement. SCB is one of the... 

The cash volume withdrawn from Automated Teller Machines (ATM) systems of local banks in January is estimated to hit some VND60 trillion, four times higher than other previous months, said Smartlink Card Services Joint Stock Co. The upsurge is attributed to strong cash demand during the Lunar New Year holiday, or Tet, said Smartlink, which operates the payment clearing system connecting 35 member... 

The central bank has mapped out a plan to merge three local card networks to establish a unified card switching center. Smartlink Card Services and Vina Brilliant Card (VNBC) companies will no longer provide card switching services, which will be transferred to Vietnam National Financial Switching Joint Stock Company, better know as BanknetVN, a source told the Daily. The central bank has submitted... 

The Vietnam Banking Card Association has predicted that about 40 million cards would be issued by December 31, 2011. The total turnover of cards of different kinds is estimated to reach 3.2 billion dollars by the end of the year, while the total payment turnover of domestic ATM cards would be 2.4 billion dollars. Market growing fast, but… By June 30, 2011, Vietnam had issued 36 million cards, seven... 

The State Bank of Vietnam on Monday issued a dispatch requiring Housing Development Bank (HDBank) to limit its credit growth next year at under 10% as part of a punishment for breaking the deposit rate cap. HDBank is not allowed to open any branches, transaction offices or ATM booths for 12 months starting from November 20 and to pay any commissions for deposit brokers, as stated in the dispatch signed... 

The total value of card transactions in the January-September period amounted to nearly VND29 trillion at home, up 52% year-on-year, reported Smartlink Card Services Joint Stock Co. Smartlink is in charge of managing 95% of the total number of Automated Teller Machines (ATM) and Points of Sale (POS) in the local market. Transaction value of ATM and POS handled among member banks was VND13.343 trillion...