A safer, more secure and private way to pay with iPhone, Apple Watch, iPad and Mac

Hanoi - August 8, 2023 -Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), today brings its Visa cardholders Apple Pay, a safer, more secure and private way to pay that helps customers avoid handing their payment card to someone else, touching physical buttons or exchanging cash — and uses the power of iPhone to protect every transaction.

To use, customers simply double click and hold their iPhone or Apple Watch near a payment terminal to make a contactless payment.1 Every Apple Pay purchase is secure because it is authenticated with Face ID, Touch ID, or device passcode, as well as a transaction-specific, one-time unique dynamic security code. Apple Pay is accepted in grocery stores, pharmacies, taxis, restaurants, coffee shops, retail stores, and many more places.

Nguyen Thi Kim Oanh - Deputy General Director of Vietcombank shared: “As the industry moves towards digitalisation and continued innovation, we're excited to bring Apple Pay today to millions of Vietcombank customers, and provide them with an easy, safe and secure way to pay with their Apple devices in-store, in-app and online.”

Customers 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 having to create accounts or repeatedly type in shipping and billing information. Apple Pay makes it easier to pay for food and grocery deliveries, online shopping, transportation, and travel, among other things. Apple Pay can also be used to make payments in apps on Apple Watch.

Security and privacy are at the core of Apple Pay. When customers use a credit or debit card with Apple Pay, the actual card numbers are not stored on the device, nor on 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 store the payment information safely on the device.

Apple Pay is easy to set up. On iPhone, simply open the Wallet app, tap +, and follow the steps to add Vietcombank’s credit or debit cards. Customers can also add their Vietcombank credit and debit cards to Apple Pay from the VCB Digibank app.

Additionally, customers will also be able to apply for a virtual debit card through the VCB Digibank app, and have it instantly issued and added to Apple Pay.

Once a customer adds a card to iPhone, Apple Watch, iPad, and Mac, they can start using Apple Pay on that device right away. Customers will continue to receive all the rewards and benefits offered by their Vietcombank cards. This includes benefits such as accumulating VCB Reward points, unlimited cashback, spend first and pay later with interest-free period up to 55 days, as well as enjoying promotions at hotels, restaurants, shopping stores, airline tickets, etc.

ABOUT VIETCOMBANK

With a history of 60 years of construction and growth, Vietcombank has affirmed its position as a pioneer bank, constantly innovating in all aspects of operations.

Vietcombank has been awarded many major awards by prestigious domestic and international organizations in card operations such as: “The bank with the most effective network of card-accepting units” (voted by IDG & VNBA); “The best credit card product provider in Vietnam” (Awarded by The Asian Banker Magazine); “The leading bank in card payment and card usage”, “The bank that makes a breakthrough in the development of card acceptance services”, “The bank with the best achievements in card activities and has made many contributions to the development of the card market in Vietnam” (Awarded by the Vietnam Bank Card Association). Most recently, at the end of October 2022, Vietcombank won 9 important awards in the Visa Awards 2022 event for outstanding card performance. In the event of the Retail Banking Forum 2023, Vietcombank was also honored to receive 3 most important awards, including: Typical Retail Bank, Typical Digital Transformation Bank, Bank Accompanying Small and Medium Enterprises.