First Vietnamese bank allows transactions in RoK for local card holders

Tuesday, 06/10/2020 17:06
TPBank has become the first Vietnamese bank to allow all domestic cardholders to make payment and withdrawal transactions in the Republic of Korea (RoK) in addition to international debit cards or credit cards, according to Vietnam News Agency.

Photo for illustration (Source: doanhnhanplus.vn)

TPBank, the National Payment Corporation of Vietnam (NAPAS) and BC Card – the largest credit card network in the RoK with more than a quarter market share – successfully implemented the project to connect trans-international payment services.

Accordingly, all TPBank’s ATM cardholders can immediately implement payment and withdrawal transactions at some three million locations accepting card payments and nearly 40,000 ATMs in the RoK.

With the service, TPBank has helped customers completely eliminate worries of having to buy foreign currency in time to open an international debit card or credit card for travelling, business trips or transferring money to their children to study in the RoK. Moreover, keeping a local card in their wallet for direct payments via POS machines or withdrawing an amount of spending money at an ATM when needed will be much safer than carrying a large amount of foreign currency.

Nguyen Hung, TPBank General Director, said: “Through this project, TPBank hopes to bring the best services and experiences to Vietnamese customers who have been living, working, studying and travelling in the RoK as well as contribute to promoting the Viet Nam – RoK strategic cooperation partnership.”

He added that with the dynamism, enthusiasm and the forefront in applying new technologies, TPBank is expected to join State agencies to expand this feature in other countries such as Thailand, China and Japan to give customers the best experience when using their bank's services.

Various activities to be held at Culture Village throughout October

A variety of cultural activities themed “Forest melody” will be held throughout October at the Vietnam National Village for Ethnic Culture and Tourism, in Son Tay District on the outskirts of Hanoi, according to Nhan Dan newspaper.

Photo for illustration (Source: tienphong.vn)

The program has attracted the participation of more than 100 people of 16 ethnic groups from 12 provinces and cities across the country, including Tay, Nung, Dao, Mong, Thai, Muong, O Du, Kho Mu, Ta Oi, Co Tu, Ba Na, Xo Dang, Gia Rai, RagLai, Ede, Khmer.

Some highlight of the October program are the activities named "A call of the forest" with the art show "Central Highlands Dance" on every Saturday and Sunday, introducing traditional activities of the Central Highlands ethnic groups.

On the weekends of the month, a Homestay tour program called "A day in the village" will be organised to help visitors to experience life at Muong, Tay and Thai homes in the village.

Activities in October contribute to promoting the introduction of landscapes, living spaces, cultural features, and customs of ethnic minorities.

Through the activities, the program aims to contribute to strengthening exchanges between ethnic groups and attracting tourists to the Vietnam National Village for Ethnic Culture and Tourism, thus ensuring the return to a “new normal” state with the dual goal of fighting against the COVID-19 and attracting tourists under the program "Vietnamese travel Vietnam".

Vietnam likely to earn USD300 billion in exports this year

The industry and trade sector is exerting all-out efforts to achieve the target of USD300 billion in export turnover this year in the context that the COVID-19 pandemic is seriously affecting global trade, Vietnam News Agency reports.

Photo for illustration (Source:baotintuc.vn)

According to the Ministry of Industry and Trade’s Import-Export Agency, Vietnam earned USD202 billion from exports in the first nine months of 2020, a year-on-year rise of 4%.

Of note, the domestic economic sector is the driver of the growth as it enjoyed a year-on-year increase rate of 19.5%, with USD71.4 billion.

The export value is expected to surge in the fourth quarter when Vietnam brings into full play incentives of signed free trade agreements, especially the EU-Vietnam Free Trade Agreement (EVFTA) which became effective on August 1.

In August, Vietnam’s export turnover to the EU reached USD3.25 billion, up 4.65% compared to that of July. The turnover in September also posted a 14.4% surge year-on-year.

Deputy Head of the agency Tran Thanh Hai said that during January-September, the US was Vietnam’s largest importer with a value of USD54.7 billion, a year-on-year rise of 22.6%.

To achieve USD300 billion in export turnover, the Ministry of Industry and Trade worked on a trade promotion plan for 2020-2025, which focuses on potential and advantageous products.

The ministry will assist local businesses in intensifying exports, especially to the Republic of Korea, Japan and China, and continue organising virtual business exchanges and trade promotion activities./.

Compiled by BTA

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