Over a 7-year period, VIB’s credit card issuance grew tenfold, ranking Top 1 in Mastercard spending, Top 3 in overall market spending, and as one of only three Vietnamese banks partnering with the big three international card organizations: Visa, Mastercard, and American Express.
Tenfold Growth in 7 Years – VIB Reaches 1 Million Credit Cards
Beginning its transformative journey in 2019, VIB identified credit cards as a strategic business area that would play a pivotal role in setting the bank apart and embracing the digital economy. VIB formulated a comprehensive card strategy, investing heavily in cutting-edge technology and consistently engaging with customers to understand their needs.
From a modest 92,000 cards in 2018, VIB witnessed a remarkable tenfold increase, reaching the milestone of 1 million credit cards in August 2025. This achievement propelled VIB to capture nearly 7% of the credit card market share in terms of cards in circulation and new card issuance (according to the Vietnam Bank Card Association as of December 31, 2024).
Chart: Number of Cards and Total Credit Card Spending of VIB from 2018 to end of August 2025.
Top 1 in Mastercard Spending, Top 3 in Overall Market Spending
As of August 2025, total spending on VIB cards grew by 80% compared to the end of 2024 and a staggering eighteenfold increase from 2018. In the first nine months of 2025, there were 31 million transactions made using VIB cards. The average monthly spending per card reached VND 15.2 million (up from VND 7.6 million in 2018).
VIB currently accounts for 12% of Vietnam’s card spending market. Notably, the average spending per VIB card is 50% higher than the market average (according to the Vietnam Bank Card Association as of December 31, 2024).
In recognition of its outstanding growth, VIB was honored by Mastercard as the number one bank for credit cards in Vietnam in 2024, receiving eight prestigious awards: Bank with the Largest Card Spending in Vietnam, Bank with the Largest Credit Card Spending, Bank with the Highest Credit Card Growth, Leading Bank in Credit Cards, Leading Bank in Debit Cards, Bank with the Largest E-commerce Card Spending, and Bank with the Largest Overseas Card Spending.
One of Only Three Vietnamese Banks with a Visa-Mastercard-American Express Ecosystem
With ten diverse card lines boasting advanced technological features, VIB is among the select few banks partnering with the leading international card organizations – Mastercard, Visa, and American Express – to develop a comprehensive credit card portfolio. This portfolio is tailored and customized to meet the specific spending needs of diverse customer segments, offering benefits such as high cashback rates for daily expenses (VIB Cash Back, VIB Online Plus 2in1), unlimited point accumulation (VIB Rewards Unlimited), air mile accumulation and exclusive airport privileges (VIB Travel Élite, Premier Boundless), and cards that allow customers to choose their features (VIB Super Card). Additionally, VIB offers cards that optimize cash flow for businesses (VIB Business Card).
The Power of the Triple Pillar: Technology – Experience – Benefits
Ms. Tuong Nguyen, Vice President of VIB, shared, “Our success in the credit card segment is a direct result of our unwavering commitment to our ‘Leading the Card Trend’ strategy, which focuses on delivering unique benefits and exceptional customer experiences. We proactively set new trends by continuously investing in technology, digitization, and gaining deep insights into our customers’ needs. This strategy is underpinned by three main pillars: Leading in Technology, Leading in Experience, and Leading in Benefits.”
In terms of technology, VIB is a pioneer in enabling customers to apply for cards 100% online across multiple platforms (MyVIB, Max Powered by VIB, Website, and VIB’s partner ecosystem), with approval granted within 15-30 minutes, and the option to use a virtual card for immediate transactions before receiving the physical card. Card management is simplified through MyVIB, offering features such as expense tracking, repayment options, installment plans, card locking/unlocking, and reward point redemption. VIB is the first bank to introduce a comprehensive set of card management features on its mobile banking platform, MyVIB. Additionally, VIB has been at the forefront of adopting modern card technologies such as duo cards, Chip EMV, 3D Secure, and Tokenization, while also securely integrating with Apple Pay, Google Pay, Samsung Pay, and Garmin Pay.
When it comes to customer experience, VIB takes a personalized approach, empowering customers to customize their credit card features according to their preferences. Cardholders can choose their statement date, repayment percentage, and even design their cards using AI. VIB’s innovative Super Pay solution allows cardholders to select their payment source (PayFlex), choose installment plans (PayEase), and enhance security for online transactions without OTP (PaySafe), all accessible through the MyVIB app. The recently launched Super Cash solution offers customers the flexibility to dynamically allocate their credit limit of up to VND 1 billion between their credit card and cash loan.
In terms of benefits, VIB offers attractive cashback programs, competitive point and air mile accumulation rates, and a VIB Privileges ecosystem comprising over 150 partners in travel, dining, shopping, and transportation. Additionally, the VIB Pay Ease 0% interest installment plan and preferential foreign transaction fees for premium cards enable customers to optimize their finances while enjoying a sophisticated lifestyle.
VIB’s efforts have been recognized through numerous prestigious awards and acknowledgments from international organizations such as Mastercard, Visa, International Finance Magazine, and Global Business Outlook.
“Reaching the 1 million card milestone is a testament to the validity of our customer-centric strategy,” affirmed Ms. Tuong Nguyen, Vice President of VIB. “With our technological foundation, deep customer understanding, and pioneering spirit embedded in VIB’s DNA, I am confident that we will continue to ‘Lead the Card Trend,’ introducing even more innovative products, services, and comprehensive digital experiences for Vietnamese consumers. This is just the beginning of a new journey as we strive to serve more customers in the future.”
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