SeABank and Visa team to accelerate digital payments in Vietnam

By Gloria Mathias

Southeast Asia Commercial Joint Stock Bank (SeABank) and Visa have announced a partnership with a cooperation agreement on developing digital payments.

This cooperation aims to facilitate SeABank’s delivery of solutions, improve data capacity and increase expertise to open new opportunities for advancement, thereby accelerating SeABank’s payment services development strategy.

Accordingly, Visa and SeABank continue to implement effective strategies to promote digital payments through 5 main pillars, including:

• Improving customer experience journey on digital platforms
• Improving card products and services
• Optimizing the card service ecosystem on digital platforms
• Improving efficiency and creativity in marketing and communication activities
• Improving risk and fraud management in card issuance and payment.

Stephen Karpin, President of Visa, Asia-Pacific Region, said, “We are honoured to cooperate with SeABank in actualizing our commitment to enhancing Vietnam’s digital payment ecosystem. Partnerships are the key to our journey of supporting banks in improving customer experience and strengthening risk management capacity. Visa is committed to partnering with SeABank to obtain the bank’s long-term goals and make further achievements.”

Madame Nguyen Thi Nga, Permanent Vice Chairman of the BOD of SeABank, shared, “As part of our digital convergence strategy, SeABank always prioritizes digitalization of products, services and operations. With its partnership with Visa in recent years, SeABank has made significant changes in card services and formed an increasing impression on customers. The expanded cooperation with Visa acts as a premise for SeABank to further enhance efficiency and operational safety and improve the customer experience of card products and services on digital platforms.”

With the support of Visa, SeABank has created a change in card services and launched various new card lines, including Signature, SeATravel, SeALady, SeAEasy, SeAGolf, and BRG Elite, with different privileges tailored for each segment. The Bank’s total card transaction revenue has grown steadily over the years, reaching an annual average growth rate of approximately 125%.

As the rapid transition from cash to digital payments in Vietnam opens up many opportunities for card development, the expanded cooperation is expected to help SeABank breakthrough. This will thereby open up opportunities for the future of digital payment and contribute to the national digital transformation.