Card Payment Service

18/09/2015 09:36 AM

1. Benefits of using Vietcombank card payment service

a. Enhance the corporate image

  • Be a part of merchant network with millions of merchants in Vietnam and worldwide.
  • Improve services and utilities for customers, enhance the professionality of the business with the payment acceptance of leading card brands in the world.
  • Accept payment of the most card brands including Visa, MasterCard, JCB, Diners Club, Discover, UnionPay and American Express (of which, American Express is the brand that exclusively accepted by Vietcombank in Vietnam).
  • To promote the brand to millions of Vietcombank customers.

b. Cost-saving and more secure than cash payment:

  • Save management cost, limit error or loss by using cash payment.
  • Card payment system complies with the global security standards (EMV, PCI DSS, 3D-secure...).
  • Earn interest rate on current account.
  • The most competitive merchant discount rate in the market.
  • Manage sales easily with list of transaction information.

c. Increase sales turnover:

  • Diversify payment methods to increase the convenience for customers.
  • Encourage customers to make higher-value purchase in compared with cash payment.

d. Support from the bank:

  • Free POS and sales receipts.
  • Support training for employees on card payment.

2. Merchant register conditions

a.    Eligible customers:

  • Businesses, individuals who provide lawfully goods and services in Vietnam.

b.   Conditions:

  • Doing businesses in accordance with the law of Vietnam.
  • Not in the list of high risk merchants or having been terminated card payment activities according to the notices of Card schemes or banks in Vietnam.
  • Not being categorized as doubtful merchant in terms of financial capacity, solvency, payment credit worthiness.
  • Having sufficient financial capacity, debt repayment capability and creditworthiness in payment.
  • Signed a Card Acceptance Agreement with Vietcombank, committing to comply with all laws and regulations of Card schemes and VCB regarding card payment acceptance.
  • Having an account opened at VCB.
  • Website complies with Vietnamese laws and Vietcombank's requirements (applicable to online merchants).

3. Requirements:

  • A notarized copy of the lawful business registration certificate (together with the original to compare and a notarized copy of the conditioned business registration certificate for the conditioned business lines under the Vietnam law.
  • Notarized copy of ID card of the legal representative of the company.
  • Power of attorney or written authorization (if the person signing the contract of the card accepting unit is not the legal representative of the enterprise).
  • Other documents as requested by Vietcombank in each period.