On December 4, 2024, in Ho Chi Minh City, Vietnam Prosperity Joint-Stock Commercial Bank (VPBank) and Mobile World Joint-Stock Company signed a partnership agreement to launch a payment agency model for the first time in Vietnam, according to Decision No. 666/QD-TTGSNH2 of the State Bank of Vietnam.
This collaboration entails VPBank, as the principal, offering financial services within the scope of payment agency activities to customers. Mobile World, with its professional, well-trained, and proficient staff, will act as the agent, connecting their system with VPBank and facilitating customers’ financial and banking needs.
Consequently, customers can perform deposit, withdrawal, and money transfer services at Mobile World and Dien May Xanh stores as if they were at a VPBank branch. This is especially beneficial for customers living and working in areas without access to bank branches, transaction offices, ATMs, or CDMs.
In addition to the aforementioned services, customers can also open VPBank NEO payment accounts and apply for 100% online credit cards. With an automated connection system and a well-coordinated process between the parties, transactions and services are handled swiftly, smoothly, and securely, providing customers with a convenient and reassuring experience.
Mr. Phung Duy Khuong, Vice Director General in charge of the South and Director of the Corporate Banking Division of VPBank (2nd from left) at the signing ceremony
One of the service’s standout advantages is its flexibility in terms of timing. Transactions can be conducted during the stores’ operating hours, including after-work hours, reducing customers’ waiting time at branches and transaction offices, especially for those who need to conduct transactions outside of regular banking hours. Additionally, Mobile World’s network of nearly 3,000 sales points nationwide will enhance accessibility and convenience for customers to perform financial transactions.
Customers can rest assured that the system is connected and supported by SmartPay, a pioneer in providing financial and payment solutions. With PCI DSS Level 1 certification (Payment Card Industry Data Security Standard), the highest global security standard, all customer data will be absolutely secure during processing and storage.
Speaking at the signing ceremony, Mr. Phung Duy Khuong, Vice Director General in charge of the South and Director of the Corporate Banking Division of VPBank, emphasized: “This collaboration will contribute to bringing VPBank’s image, products, and services closer to new customers and increasing the number of sales points providing financial services to existing customers. It also reaffirms our commitment to delivering an increasingly complete and convenient financial experience.”
Mr. Doan Van Hieu Em, CEO of Mobile World Joint-Stock Company, shared: “With our extensive network across Vietnam, we serve as VPBank’s extended arm in providing their services and benefits to the masses. We believe that these services are essential for everyone in today’s world, especially with the State’s active promotion of a cashless society.”
From now until January 15, 2025, all customers transacting at Mobile World will enjoy a 0 VND transaction fee policy. VPBank is also offering an e-voucher cashback program for all customers opening VPBank NEO accounts and making payment transactions from now until April 30, 2025. Accordingly, customers who recharge their phone, buy a card, and make data transactions, bill payments, postpaid mobile phone payments, transport fees, QR code payments, tuition fees, insurance, and loan payments for the first time with a value of 100,000 VND will receive an immediate cashback e-voucher of up to 50% (maximum 50,000 VND). Customers who deposit online for the first time will enjoy a preferential interest rate increase of 0.2%.
For customers applying for a credit card at Mobile World sales points, the annual fee waiver of 500,000 VND when total spending reaches 2,000,000 VND within 30 days from the card opening date is an offer not to be missed. This program lasts until December 31, 2024. Additionally, VPBank will offer exclusive product and service packages, unsecured loans, and salary payment services for Mobile World’s employees.
Through this partnership and by utilizing the nationwide sales system, VPBank and Mobile World have established a modern and convenient financial channel, enhancing their ability to serve customers nationwide. This collaboration will also increase the number of VPBank’s financial service providers, improving the experience for existing customers and introducing VPBank’s image, products, and services to a broader base of new customers. It further underscores VPBank’s commitment to delivering an increasingly complete and convenient financial experience.
Information Box: Circular No. 07/2024/TT-NHNN on payment agency activities was issued by the State Bank of Vietnam and took effect from July 1, 2024. The promulgation of this Circular aims to complete the legal framework to meet the practical development needs of agency activities in the field of payment in Vietnam in the coming time, as well as to catch up with the world’s payment development trend and the strong and extensive development of information and telecommunications technology today.
In this context, with its efforts to bring the most convenient payment solutions to customers, VPBank has become the first bank licensed to deploy products and services within the scope of payment agency activities through its collaboration with Mobile World, Vietnam’s leading retail system.
About VPBank:
VPBank is one of the largest joint-stock commercial banks in Vietnam with a history of over 30 years of establishment and development. With a multi-sector development strategy, VPBank provides comprehensive financial services, ranging from retail banking to investment banking, for both individual and corporate customers. VPBank has been affirming its position by applying technology in business activities, from digital banking solutions to large-scale digital transformation projects.
About Mobile World:
Mobile World Joint-Stock Company is a subsidiary of Mobile World Investment Corporation (stock code MWG) operating the retail chains thegioididong.com, Dien May Xanh, TopZone, An Khang, Avakids, and Erablue in Indonesia.
With over 3,000 stores nationwide, Mobile World leads in sales of mobile phones, laptops, tablets, and consumer electronics. The company is also a market leader in many sales activities, bringing practical benefits to consumers.
About SmartPay:
Since its establishment in May 2019, SmartPay has always focused on small and medium-sized sellers, helping them grow by providing advanced, fast, cost-effective, and reliable technology. To date, the SmartPay community has attracted more than 700,000 sellers, over 2 million individual users, and welcomed more than 40 million users from partner banks and wallets.
With a mission to improve and elevate the lives of small and medium-sized sellers, SmartPay enables them to accept all payment methods such as QR code scanning, face recognition, bank cards, online payment gateways, and financial support solutions, helping them do business efficiently regardless of scale.
Withdrawing and Transferring Money Made Easy at the The Gioi Di Dong and Dien May Xanh Stores.
Customers can effortlessly top up their accounts or withdraw cash and transfer money to their loved ones swiftly, conveniently, and time-efficiently without the need to physically visit an ATM or a bank branch.
The Foreign Block Turns Net Sellers After 6 Consecutive Buying Sessions, Dumping Real Estate Across the Board
Liquidity on the three exchanges reached 13.4 trillion VND, with foreign investors selling a net of 310.2 billion VND after six consecutive sessions of net buying of over 424.5 billion VND.
“TPBank: Proud to be a National Brand of Vietnam in 2024”
For two consecutive years, TPBank has been bestowed with the prestigious title of Vietnam National Brand, a testament to the bank’s unwavering commitment to developing innovative financial products and services. This recognition highlights not only the convenience and digital accessibility that TPBank offers to its customers but also its significant contribution to the country’s economic landscape.
The Service Sector’s Share is Declining: The Northern “Industrial Heartland” to Develop at Least Two Night-Time Economic Service Zones
By 2030, Bac Giang aims to establish at least two nighttime economic service areas in Bac Giang City and Viet Yen Town. These areas will be designed to attract tourists and cater to the needs of the local community, experts, and workers in the province.
“Appointment of Deputy General Director at OceanBank”
The Military Commercial Joint Stock Bank (MB) has appointed Mr. Le Xuan Vu, a member of the MB Executive Board, as MB’s representative and Vice Chairman of OceanBank.
