UnionPay rolls out virtual cards in Vietnam for the first time

Friday 22 January 2021 13:30 CET | News

UnionPay International (UPI) has partnered with the Military Commercial Joint Stock Bank (Military Bank) in Vietnam to issue 600,000 virtual cards supporting online and QR code payment.

According to the press release, the UnionPay mobile payment service has been implemented in all of the 10 ASEAN countries at over 500,000 merchants in various sectors, such as retail, F&B, public transport, and others. Building on the acceptance, UnionPay has been proactively serving the local residents by partnering with payment industry players in the region. 

Therefore, 18 e-wallets compliant with UnionPay specifications have been introduced in Singapore, Thailand, Malaysia, Vietnam, and Cambodia which can be used once a UnionPay card is linked. Six mobile wallets including Boost in Malaysia and Aleta Planet Nestia in Singapore also enable users to apply for UnionPay virtual cards, offering a more convenient payment experience.

Furthermore, as the second UnionPay-compliant e-wallet launched in Vietnam, the mobile app of Military Bank allows local residents to apply for cards in the app and pay with QR code at more than 40,000 local merchants. The app can also be used at over 30 million global merchants when the user travels internationally.

More: Link

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Keywords: UnionPay International, Military Commercial Joint Stock Ban, business partnership, Vietnam, virtual cards, QR code payment, cards, merchants, e-wallet, mobile wallets
Categories: Payments & Commerce
Countries: Vietnam
This article is part of category

Payments & Commerce