Vietnam launches co-badged card with Mastercard and six banks

The card can be used in 650,000 points locally and 150 million points globally.

Vietnam has launched its first co-badged card in partnership with payment technology company Mastercard and six local banks.

The six banks involved are Agribank, BIDV, TPBank, Nam A Bank, PVcomBank and Vikki.

Domestically, the card is accepted at over 650,000 acceptance points. It can be used to withdraw cash at over 20,000 ATMs nationwide.

Internationally, it can reportedly be used at 150 million acceptance points and 1 million ATMs.

The move is expected to help ensure that Vietnamese cardholders can have a seamless payment experience for domestic and international transactions using a single card, according to the National Payment Corporation of Vietnam (NAPAS) and State Bank of Vietnam (SBV).

NAPAS, Mastercard, and nine Vietnamese banks have earlier signed a memorandum of understanding in October 2024 with the goal of “delivering innovative new services to domestic cardholders,” according to a statement published in the SBV website.