Sacombank won three awards from Mastercard for Innovation Breakthrough, Leadership in Debit Volume and Leadership in Debit Growth. — Photo courtesy of the bank

HCM CITY — At Mastercard’s Annual Customer Forum last week, Sacombank received three awards from the international card organisation: for Innovation Breakthrough, Leadership in Debit Volume and Leadership in Debit Growth.

Sacombank was appreciated at the event for its innovations in business activities and pioneering and creative efforts to adopt innovative digital technologies for the development of products and services to meet the increasing needs of customers.

Mastercard conferred the Innovation Breakthrough award on the first bank in Southeast Asia to deploy the ‘QR on Card’ service and first bank in Việt Nam to offer corporate cardholders business owner insurance.  

Sacombank has tied up with Mastercard to issue QR on Card for individuals who are small and medium-sized business households.

With the technology of printing QR codes to EMV standards on the back of Mastercard international payment cards, Sacombank has successfully converted a payment tool into a card acceptance point.

These QR codes contain full information about the business owner, and customers can use the Sacombank Pay application to scan QR codes to make payments easy.

Sacombank is also the first lender in Việt Nam to launch a contactless payment solution by mobile phone - Tap to Phone.

This technology enables merchants to turn their Android mobile phones into payment acceptance devices in place of traditional card machines, which helps reduce costs and is suitable for micro businesses, eateries, grocery stores, traders at traditional markets, and delivery people.

Sacombank is also a pioneer in issuing non-physical cards on the mobile platform. With tokenisation technology, customers can easily register to open new credit cards and payment cards online on Sacombank Pay app. Users can use the virtual card information to make online transactions right after successfully getting the card.

Most recently Sacombank launched its Mastercard debit and corporate cards for corporate customers in two classes, World and Platinum.

These are high-end cards that offer numerous practical utilities and benefits to give businesses an exceptional experience, including global data roaming in many countries around the world, access to world-class services (lounges, limousine transfers, priority assistance, and others) at more than 700 airports globally, incentives of up to 60 per cent on dining, travelling, education, and entertainment, and having their interests protected when there are unauthorised transactions.

Sacombank Mastercard World cardholders will be exempt from corporate liability for transactions arising when employees quit jobs of up to VNĐ33.75 billion per year, while Sacombank Mastercard World Digital cards feature e-commerce payment insurance when shopping online in case the goods are not received or are not the same as described.

Sacombank Mastercard World Travel cardholders can also get baggage insurance when travelling on business.

All Sacombank Mastercard credit cardholders can spend first and pay later with an interest-free period of up to 55 days without collateral, and get up to 50 per cent discounts when dining, shopping and travelling, and zero interest instalment purchases.

The Sacombank Pay app, which helps manage cards 24/7 and actively make interbank transfers, mobile-phone top-ups and bill payments, offers greater convenience when using the cards. — VNS