TPBank is one of the first 9 banks to issue co-branded NAPAS and Mastercard cards.

TPBank is one of the 9 commercial banks that signed a Memorandum of Understanding (MOU) for the first co-branded card issuance partnership between NAPAS and Mastercard in the Vietnamese market.

The Signing Ceremony of the Memorandum of Understanding for the First Co-Branded Card Issuance Between NAPAS and Mastercard in Vietnam - Source: VGP/HT

The co-branded card between NAPAS and Mastercard, featuring contactless payment capabilities at a wide network of card acceptance points globally and within Vietnam, will provide customers with a seamless, secure, and convenient payment experience with just one card.

The collaboration project for the co-branded card between NAPAS and Mastercard aims to offer innovative solutions that meet the needs of domestic cardholders and align with Vietnam's development and international integration trends. According to Mastercard's 2024 Digital Payments Index Report, 47% of Vietnamese consumers prefer online payment tools for their convenience and speed, while 21% value the security that these payment tools offer.

In May 2024, Vietnam ranked third in Southeast Asia for the level of enthusiasm toward international travel, reflecting the growing love for overseas travel among Vietnamese people. The increasing trend of Vietnamese travelers going abroad further confirms the rising demand for cross-border payment methods and secure, seamless online transactions.

In response to this demand, the co-branded card between NAPAS and Mastercard, issued by Vietnamese banks, offers an optimal payment solution. With just one card, cardholders can use contactless payment features both domestically (via NAPAS) and internationally (via Mastercard).

Customers can use the card for transactions at over 600,000 payment acceptance points and more than 20,000 ATMs within NAPAS's network in Vietnam, as well as at over 130 million payment acceptance points and more than 1 million ATMs within Mastercard's global network.

Additionally, the co-branded card can be used for online payments at e-commerce platforms internationally, providing a convenient and quick solution for global online transactions.

Beyond the extensive payment acceptance network, cardholders will also enjoy NAPAS benefits in Vietnam as well as attractive perks within Mastercard's global payment acceptance network.

In terms of technology, the co-branded card between NAPAS and Mastercard utilizes contactless payment technology by integrating two standards: the VCCS standard for NAPAS cards and the M/Chip standard for Mastercard cards into a single physical chip on the card. This integration helps reduce costs, improve security, and minimize the risk of fraudulent or counterfeit transactions.

In the initial phase of the project, NAPAS and Mastercard, along with the first 9 banks issuing the co-branded NAPAS and Mastercard cards, include: Agribank, BIDV, Vietinbank, MB, TPBank, Sacombank, HD Bank, PvcomBank, and Nam Á Bank. In the next phase, scheduled for 2025, NAPAS and Mastercard will continue to roll out the card to other member banks to expand the offering to all banks that are interested and provide diverse global payment options for consumers in Vietnam.

As the job, trade, and technology environments continue to evolve rapidly, Mastercard remains ready and at the forefront of supporting the Vietnamese government in driving digital transformation.

The co-branded card ushers in a new era of convenient payments, allowing cardholders to experience seamless transactions anywhere in Vietnam and globally, thanks to the comprehensive payment acceptance network of NAPAS and the international transaction capabilities of Mastercard, along with various perks for cardholders during their spending and payments.