Mastercard, a global technology company in the payments industry, the National Payment Corporation of Vietnam (NAPAS), and nine first banks have announced a Memorandum of Understanding (MoU) to introduce the first NAPAS - Mastercard co-badged card in Vietnam.
The co-badged card, equipped with contactless payment features, is widely accepted globally, including in Vietnam. This single card offers cardholders a seamless, secure, and convenient payment experience.
According to the Mastercard 2024 Digital Payment Index Mastercard 2024 Digital Payment Index, 47% of Vietnamese consumers prefer online payment tools for their convenience and speed, while 21% value the enhanced security they provide.
In May 2024, Vietnam ranked third in Southeast Asia for outbound travel sentiment, reflecting a strong enthusiasm for overseas travel. This increasing international travel trend underscores the escalating demand for diverse, secure and seamless payment solutions.
In response to this demand, the co-badged card between NAPAS and Mastercard, issued by Vietnamese banks, represents an optimal payment solution. With just one card, cardholders can utilize the payment features of the domestic card (NAPAS) as well as the international payment features of Mastercard such as contactless payments.
The NAPAS-Mastercard co-badged card will be accepted at over 600,000 payment acceptance points and 20,000 ATMs in Vietnam, and provide access to over 130 million merchant locations and over 1 million ATMs globally. Additionally, consumers can use their co-badged cards for online payments on e-commerce platforms.
