The National Payment Corporation of Vietnam (NAPAS), in collaboration with global payment technology company Mastercard, officially announces the launch of Vietnam’s first co-badged card with six leading banks: Agribank, BIDV, TPBank, Nam A Bank, PVcomBank and Vikki. This marks a significant milestone in ensuring cardholders a seamless payment experience for domestic and international transactions using a single card.
This launch follows from the Memorandum of Understanding signed in October 2024 by NAPAS, Mastercard, and nine banks in Vietnam aimed at delivering innovative new services to domestic cardholders. By combining Mastercard’s global acceptance and innovation with NAPAS’s strong domestic infrastructure and market expertise, the co-badged card allows cardholders to effortlessly make both domestic and international payment. It not only empowers Vietnamese consumers and businesses with greater flexibility but also supports the nation's digital transformation and the development of a modern, cashless economy.
This solution caters to the growing demand for cross-border payments in areas such as shopping, travel, education, and global business. Domestically, it is accepted at over 650,000 acceptance points and withdraw cash from more than 20,000 ATMs nationwide, while internationally, it unlocks access to more than 150 million acceptance points and 1 million ATMs globally.
The card’s dual-chip architecture combines NAPAS's VCCS for domestic use with Mastercard’s global M/Chip technology, ensuring compatibility and security. This sophisticated integration supports both contact and contactless payments, in line with leading international security standards, including multilayer authentication via the Cardholder Verification Method (CVM). Issuing banks have the flexibility to offer various tiers, such as Classic or Platinum for VCCS, and Standard for M/Chip, covering all transaction channels including ATMs, POS terminals, and e-commerce platforms.
"As Vietnam's commerce and technology landscape continues to evolve rapidly, Mastercard is committed to addressing the changing needs of Vietnamese consumers. By partnering with NAPAS and leading financial institutions, this initiative reinforces the long-standing commitment to promoting financial inclusion and innovation in Vietnam. The launch of the co-badged card marks a significant step forward in offering secure, efficient payment solutions tailored to the Vietnamese market, supporting inclusive economic growth in this digitally driven era," said Ms. Winnie Wong – Country Manager, Vietnam, Cambodia and Laos, Mastercard.
