Visa to open office in Vietnam

Sunday 12 December 2004 15:43 CET | News

The State Bank of Viet Nam (SBV) has agreed to grant a licence to Visa International to open a representative office in HCM City.

Visas new representative office will direct its businesses in Viet Nam, Cambodia and Laos, adding that the expansion comes in the wake of significant overall growth and positive prospects in the three Southeast Asian countries. The rep office in Viet Nam will also help to expand Visa’s credit card business, accelerate the development of its infrastructure and popularise the use of credit cards in the region. This year, Visa in Viet Nam will focus on equipping merchants to accept electronic payments, particularly those made with debit cards. It will also work with local banks and regulators to enable Viet Nam’s payment industry to make the jump to the most modern payment technology and standards. Some Vietnamese commercial banks have become members of Visa International, including the State-owned Vietcombank, the Asia Joint Stock Commercial Bank and the joint stock Viet Nam Export Import Bank (Eximbank).

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: ,
Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce