Vietnam Technological and Commercial Joint-Stock Bank (Techcombank) continues to be honoured by National Payment Corporation of Vietnam (Napas) as the market leader in the field of electronic money transfer and domestic card payment in 2019.
According to Napas’ management, Techcombank is a bank that effectively implements a number of ground breaking policies and exemplifies market leadership in changing behaviour and public awareness in cashless payment and thereby partly support the management agencies in applying policies to increase the use of cashless payment services in the country’s economy.
The information was announced at the Napas Member Bank Conference in 2019, held in mid-November with the attendance of the Board of directors of SBV Payment Department.
The meeting summarised the implementation of development and operation of domestic payment services through the Napas system in the operational year 2019 (calculated from September 30, 2018 to September 30, 2019).
At the Conference, Napas and SBV also honoured members with active achievements in domestic payment activities in 2019 on payment systems, channels and instruments mainly provided by Napas service in Vietnam.
Techcombank is continuously recognised and highly appreciated by Napas and SBV in the implementation of cashless payment services in the domestic market segment and was awarded the three most important awards of the operation. Cashless payments in the domestic market include: the leading bank in money transfer transactions on the Napas system (the direction that the bank issued outward remittance).
The bank leads in Napas domestic card payment transaction (ATM card payment transaction via POS and e-commerce). The bank leads the way in implementing joint payment transactions through Napas in 2019.
Techcombank’s implementation programmes have been effective since the number of transactions grew very high, satisfied by customers. The operation and risk management were also more effective than many other banks such as: zero fee e-banking, Cashback one percent of ATM Debit card, promotions for card payment services, and for other e-banking.
In addition, Techcombank is also a bank that rapidly implements projects and programmes to change and upgrade the system in accordance with SBV’s principles of compliance such as: Domestic chip standards for ATM cards (officially from November 7) and has completed the Certify standard certification for POS and ATM, faster than the banks that have piloted the system before.
Techcombank also actively participates in contributing and developing guidelines and policies in accordance with Napas’s operational standards to gradually carry out the SBV’s orientation on the national payment system.
Particularly, the percentage of payment transactions transferred via e-banking (including via applications) has reached the market share ratio (at the beginning of the transfer order) of about 23.3 percent (far exceeding the following banks such as MB and BIDV) ranked first in the market. The payment transactions via POS and e-commere of domestic ATM cards accounted for 11.23%, ranked the second in the market (after VCB).
Sharing about the awards from Napas, Le Thi Bich Phuongdirector of Techcombank’s Personal Financial Banking Divisionsaid: “The above positive information has once again proved the bank’s success, when consistently implementing the strategy, in which customers are the focus. Techcombank has taken the initiative in parallel, realising the guidelines of SBV and the government on promoting cashless society in the past four years.
Only with zero fee e-banking programme deployed from 9/2016 to now, the number of transactions of individual customers has increased from 500-600 thousand transactions per month in 2016, up to 17-18 million transactions per month in 2019, an increase of nearly 30 times. Total free fee of e-banking and one percent cashback from debit card that Techcombank has “returned” to customers is up to trillions of dong”.
