Using payment cards for daily spending and shopping is a trend among a large number of people, especially the urban population.
The latest figures from the Payment Department – State Bank of Vietnam (SBV) show that as of July 2023, there are more than 140 million bank cards in circulation. Credit cards account for approximately 27.8% (39 million cards), the remaining are debit cards and prepaid cards, of which debit cards dominate completely. In 2022, the Card Association (Banking Association) also concluded that as of June 2022, domestic debit cards accounted for about 96% of the total number of domestic cards and international debit cards accounted for 64% of the total number of international cards in circulation.
These numbers partly show that, although not a new payment method, payment cards still hold a strong position in the market. And if “idol of young people” Pam owns a large number of fans thanks to her cute moments, payment cards, with their equally attractive benefits, also captivate users.
No worries about overspending
Having been attached to Techcombank payment cards for 7 years, Quynh Trang (office worker, Hanoi) said payment cards have taught her to manage expenses better: “Using payment cards, you can only spend the amount of money in your account without the need to borrow from the bank. When your budget is limited, you will have a more specific spending plan and only buy what you really need.” The 27-year-old girl also sets a spending limit for the card to avoid overspending.
Sharing the same view, Tuan Nam (25 years old, legal specialist) said he uses payment cards because he doesn’t like the feeling of being in debt to the bank or being charged high interest rates if he forgets to pay on time.
Always having great deals for almost every spending
In the past, payment cards had been less attractive to users because they rarely offered any benefits. However, the story is different now. To attract customers, many banks have collaborated with partners in various fields to bring about attractive promotions and discounts.
“I use payment cards for most of the daily transactions, from ordering food, booking cars, shopping on e-commerce platforms to booking flights and hotels… because I can get up to 25% discount or cash back, depending on the specific sector and time. Thanks to these benefits, I can save money while enjoying quality services,” shared Thanh Ngoc – owner of a Techcombank Debit Platinum card (25 years old, Ho Chi Minh City).
Smart management, convenience on digital banking
Thanks to technology, payment cards are no longer just a safe for withdrawing money, but also act as a financial assistant, helping users manage their wallets more effectively.
For example, with the Techcombank Mobile digital bank, customers can easily pay all bills, while actively managing their income and expenses, understanding the cash flow based on intuitive charts. The huge data from Big Data and AI also helps Techcombank analyze the history and financial transaction behavior of users, understanding their needs better. From there, the system will provide advice, savings tips, or design personalized financial investment products for each customer.
More secure and less risky than ever before
Amidst the continuous occurrence of fraud and theft related to bank card information, using payment cards is considered safer and less risky for users.
That is also the reason why Huy Phong (30 years old, auditor) chose Techcombank payment cards. “The card is secured with a pin code, so in case it is lost, I can quickly lock the card on the digital banking platform. If there is a risk of information leakage, the bank will send an email or message warning,” Phong said.
In terms of security, Techcombank uses 3D-Secure – an advanced technology applied by major banks in Vietnam and around the world. With 3D-Secure, only the cardholder has the password to complete online transactions.
As a leading reputable bank in Vietnam, Techcombank has been winning prestigious awards from the international card organization VISA. With a system of hundreds of partners in almost every popular spending field, Techcombank payment cards bring attractive benefits to you. You can apply for and manage payment cards directly on the Techcombank Mobile digital bank.
Discover now at: Promotions for individual customers | Techcombank
