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Launching of Vietcombank-Smartlink-CUP system
The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), the Smartlink Card Service Joint Stock Company (Smartlink) and the China Union Pay (CUP) officially launched the Vietcombank-Smartlink-CUP card payment system in Hanoi on October 23rd, 2008.
Deputy Governor Nguyen Toan Thang of the State Bank of Vietnam and senior executives of Vietcombank and CUP attended the ceremony.
This connected system will help hundreds of millions of Chinese CUP card holders purchase goods and services within Vietnam via over 1,000 points of sale (POS) and 1,100 ATMs of Vietcombank which is appointed as the CUP settlement center in Vietnam. At the same time, it is easier for Vietnamese goods and services providers to access China as a potential market with a population of over 1.3 billion, having a long history of trading and bordering with Vietnam.
Vietcombank is the first commercial bank to have provided card services in Vietnam since 1990. This event again shows the leading role of Vietcombank in the Vietnamese card market. Up to now, Vietcombank is the only Vietnamese bank to accept 6 international brand name cards, including Visa, MasterCard, American Express, JCB, Diners’ Club and China Union Pay.
Addressing the ceremony, Ms. Nguyen Thu Ha, Deputy General Director of Vietcombank, said : “This cooperation not only brings benefits to Vietcombank,CUP, card acceptance entities and CUP card holders, but above all, contributes to further development of the neighborly, cooperative and friendly relations between Vietnam and China.”
SBV
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