The update improves the level of security and fraud protection for Agribank’s card services, as well as bringing its customers into line with the global trend for EMV chip cards and contactless payments. As Vietnam’s second largest card issuer with 18.8 per cent of the market share, Agribank intends to use its new capabilities to provide its customers with a more up-to-date, reliable card service.
Agribank card center director Tran Van Dung said: “The EMV project has been a real breakthrough for our card services, and brings our offerings in line with the expected global standard for payment cards.
“By updating our entire EMV network, we remain a step ahead of our competitors and cement our position as one of the most innovative banks in Vietnam.”
Compass Plus Eastern Joint Regional Directorate sales and account manager Igor Simonov said: “We are delighted to provide Agribank with the perfect software solutions for its landmark EMV project.
“With large portions of the world adopting EMV standards and contactless payments, it is good to see that Agribank has taken the initiative and is bringing its customers a truly modern service both in store and at the ATM.”
Agribank has collaborated with Compass Plus since 2007, using its TranzWare solutions to continuously update and upgrade its card services. Today, Agribank has more than 12 million customers with in excess of 19 million payment cards in circulation. The bank is the largest installer of ATMs in Vietnam, accounting for 15.6 per cent of the market share
