First chip cards issued in Vietnam

This is the future of bank cards and will replace all ATM magnetic cards that are still widely used. Chip cards cannot be counterfeited, and ensures much better security than magnetic car

The State Bank of Vietnam requested remaining commercial banks to quickly have plans to convert to chip cards with NAPAS. The goal is to convert 21 million cards in 2019 so as to reach the goal of a cashless economy during the 2016-2020 period.