Visa pilots Apple Pay to Vietnamese cardholders for virtual transactions

By Gloria Mathias

Visa has presented its Vietnamese cardholders with Apple Pay, a safer and private way to pay that helps them avoid handing their payment card to someone else, touching physical buttons or exchanging cash — and uses the power of iPhone to protect every transaction.

Major banks such as Asia Commercial Joint Stock Bank (ACB), Military Commercial Joint Stock Bank (MB), Sacombank, Techcombank, Vietcombank and VPBank are among the card issuers who support Apple Pay at launch.

Visa cardholders can double-click and hold their iPhone or Apple Watch near a payment terminal to make a contactless payment. Every Apple Pay purchase is secure because it is authenticated with Face ID, Touch ID, device passcode, and a transaction-specific, one-time, dynamic security code. Apple Pay is accepted in grocery stores, pharmacies, taxis, restaurants, coffee shops, retail stores, and many more places.

“With the growth of mobile contactless payments in Vietnam, we think consumers will immediately embrace the convenience and security that Apple Pay offers,” said Dung Dang, Visa Country Manager of Vietnam and Laos. “Customers can add their Visa cards to Apple Pay in just a few simple steps before they can start enjoying the added benefits of a contactless payment experience that is both seamless and highly secure.”

Cardholders can also use Apple Pay on iPhone, iPad, and Mac to make faster and more convenient purchases in apps or on the web in Safari without creating accounts or repeatedly typing in shipping and billing information. It can also be used to make payments in apps on Apple Watch.

When Visa cardholders use a credit or debit card with Apple Pay, the card numbers are not stored on the device or Apple servers. Instead, a unique Device Account Number is assigned, encrypted, and securely stored in the Secure Element, an industry-standard, certified chip designed to keep the payment information safe on the Apple device.