Vietnam’s Banknetvn launched online payment portal

Vietnam National Financial Switching Joint Stock Company (Banknetvn) launched its online payment portal namely Bn-debit which allows consumers can buy products online and pay via crediting their bank account. Sai Gon Bank for Industry and Trade (Saigonbank) and the Asia Commercial Bank (NamABank) are the first two banks utilizing this payment facility.

Banknetvn was established on 9th July 2004 consisting of 8 shareholders in which seven are the Vietnam’s leading banks and the rest is Vietnam Data Communication Company. The major objectives of  Banknetvn is setting up a national financial switching system interconnecting all payment card systems in general and all ATM/POS systems in particular of Vietnam’s banks. The connection enables Banknetvn’s member banks to enlarge their delivery channels with reasonable investment, avoiding bank’s duplication investment in the technical infrastructure and terminals in the national scale.

by Alice Lee

Author: Terry KS

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