The Vietnam Bank of Agriculture and Rural Development celebrates its five millionth customer alongside the launch of a new MasterCard product

12 July 2010

On 12th July 2010, the Vietnam Bank of Agriculture and Rural Development (Agribank) organised an awards ceremony in Hanoi to welcome their five millionth customer to the bank, whilst simultaneously launching their new MasterCard product for businesses. These two events demonstrate the continuous increase in both the number of customers and quality of services offered by the leading commercial bank in Vietnam.

The ceremony was held late afternoon at the Melia Hotel under the theme “Fly high to success” with over 200 guests, partners and representatives in attendance. The celebrations commenced with presentation of Agribank cardholders number 4,999,990 through to 5,000,010, with a selection of monetary and other premium prizes.

The program of events continued with the official introduction of Agribank’s MasterCard Worldwide card for businesses, the 12th card launched by the bank to date. The new card provides businesses with numerous benefits such as a flexible credit limit of up to 300 million dong with set limits for each authorised company representative. Repayments can be made via the Internet, the company's total account balance as well balances of each individual cardholder are available to view online and credit card transaction notifications can be received via SMS to aid in controlling expenditure and reducing risk. This card is incredibly convenient offering relevant expenses in fitting with each businesses’ financial position providing appropriate support as they expand in the market. The card is operational at more than 1 million ATMs and 28 million POS terminals worldwide.

Mrs. Ai June Schult, Vice President, Director of Indochina at MasterCard Worldwide said of the project: “MasterCard always tries to take an active role in the development of payment solutions in Vietnam; we are cooperating with local banks and financial institutions to bring new payment products to consumers and enterprises. The launch by Vietnam Bank for Agriculture and Rural Development of MasterCard for businesses is a result of our cooperation and this is the first MasterCard card product for businesses in Vietnam. This shows our continuous commitment in Vietnam on the implementation of cashless payment solutions”
Since 2007, with help from Compass Plus and its TranzWare solutions, Agribank has continuously invested in upgrading its card solutions, rapidly becoming one of the key players in card business development in Vietnam.

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