VIB PayFlex will revolutionise how VIB's customers manage everyday expenses, offering maximum flexibility and control through a single card. — Photos courtesy of VIB

HÀ NỘI — Vietnam International Bank (VIB) has launched VIB PayFlex, a cutting-edge payment solution built on Visa’s Flex Credential (VFC) technology.

As an early adopter in Việt Nam to implement this innovation, VIB now offers its Visa cardholders the ability to make payments from both credit and debit accounts using a single card. This dual-source flexibility provides users with greater control over their finances while optimising reward benefits.

Tường Nguyễn, Deputy CEO and Head of Cards at VIB, said: "At VIB, we are dedicated to leveraging advanced technologies to deliver top-tier financial solutions and enhance the customer experience.

"VIB PayFlex is a clear reflection of that vision. We believe this new feature will revolutionise how our customers manage everyday expenses, offering maximum flexibility and control through a single card."

Smart financial control, maximised benefits

VIB PayFlex empowers users with smart financial management. Cardholders can customise the funding source for each type of transaction, such as e-commerce, international spending, contactless payments, by transaction value or even for the next specific transaction. This helps users optimise their financial strategies by assigning spending according to personal goals.

Seamlessly integrated into the MyVIB Digital Banking App, PayFlex enables users to switch between funding sources with just a few taps. By merging the functionality of debit and credit cards into a single, intelligent payment tool, PayFlex eliminates the need to carry or choose between multiple cards. With one configurable Visa card, users can manage all transactions effortlessly.

Building on innovation, VIB has advanced beyond the physical limitations of traditional '2-in-1' cards - which required chip-based selection or preset funding defaults. Notably, VIB was the first bank in Southeast Asia to introduce that solution in Việt Nam back in 2021.

Now, with VIB PayFlex, cardholders gain real-time control via the MyVIB app, offering a new level of financial flexibility. For instance, users can choose to pay for everyday expenses from their debit account to stay within budget, while reserving their credit line for larger purchases, taking advantage of promotions, interest-free periods or installment plans.

Advanced security, reduced risk

PayFlex helps reduce the risk of using the wrong card at POS terminals, ensuring cardholders consistently receive the benefits and offers they’re entitled to. — Courtesy photo

VIB PayFlex leverages advanced security technologies from both VIB and Visa to safeguard every transaction, giving cardholders peace of mind. By consolidating spending into a single card, users no longer need to manage multiple card numbers or worry about exposing data across various online platforms. With the MyVIB app, they can securely switch payment sources anytime, anywhere.

PayFlex also helps reduce the risk of using the wrong card at POS terminals, ensuring cardholders consistently receive the benefits and offers they’re entitled to. Enhancing this convenience, VIB is currently offering complimentary credit cards to existing VIB Visa debit cardholders, based on their spending history.

Through the MyVIB app, users can instantly configure their physical card as either a debit or credit card, eliminating the need to wait for new card issuance, update saved payment details across platforms, or memorise additional card information.

A market-leading vision

VIB is strategically positioning itself as a proactive innovator in Việt Nam’s financial sector, leading with proven global solutions rather than simply responding to market trends. — Courtesy photo

Đặng Tuyết Dung, Country Manager for Visa Vietnam and Laos, said: “Visa’s VFC is a groundbreaking technology. VIB’s rapid rollout of PayFlex based on VFC demonstrates the bank’s vision and commitment to bringing cutting-edge payment innovations to Vietnamese users.

"We believe this partnership will accelerate cashless payments and greatly enhance the financial experience for customers.”

VIB is strategically positioning itself as a proactive innovator in Việt Nam’s financial sector, leading with proven global solutions rather than simply responding to market trends. This bold move further cements VIB’s reputation as a trendsetter in the country’s card industry.

Starting immediately, VIB is rolling out PayFlex to all interested customers, offering welcome gifts worth up to VNĐ200,000 for early adopters. Customers are encouraged to register for a VIB Visa debit or credit card now to take advantage of these exclusive offers. — VNS