In the current digital age, payments should be more convenient, faster and safer. That’s why credit card payment is becoming highly preferred. By optimizing credit card’s features, Shinhan Bank has made their customers’ payments handier and smarter than ever.
Increasing card payment trend
The State Bank’s statistic report indicated a significant increase in issued bank cards, ongoing and sustainable growth in card payment values. Specifically, at the end of Quarter I/2019, total number of cards issued by the bank reached 158 million. This means that each resident of Vietnam has 1.6 card on average since as the population of Vietnam in Quarter I/2019 was approximate 97.4 million of people.
In addition to make card payment at POS for shopping, dining and services, consumers now can utilize their cards to make online payments for electricity, water charges, insurance premium, telecommunication charges, tragic toll, etc. E-commerce websites also accept card payment to bring more convenient shopping experiences to customers. It is visible that card payment method is strongly growing and more popular in Vietnam.
Convenient transactions with Shinhan Cards
Catching up this trend, Shinhan Bank has focused on promoting card business and taken card segment as a strategic direction for the bank. Shinhan Bank’s card product lines also proved their market successes with various honorable awards, such as Leadership in Payment Volume Growth 2019, Leadership in Payment Transaction Volume 2019, Leadership in Debit Card Activation Rate 2019 granted by Visa International Organization.
Three key factors that make Shinhan cards friendly to users are diversified using purposes, complete confidentiality and attractive benefits.
Firstly, Shinhan Bank’s cards have specific features that are customized to needs of users. For daily needs such as shopping, dining, spa and healthcare services, Shinhan Bank offers a card line with point accumulation feature such as Hi-Point, Cash Back, Shinhan – Lotte Mart cards. For customers in need of much travel by air, Shinhan Bank’s Travel Platinum card will be an effective companion with features of mileage accumulation and redemption as well as other attractive privileges, such as free VIP lounges at over 1,100 international airports, incentives at top golf courses in Vietnam, travel insurance coverage up to VND 12 billion.
Secondly, information security is the top priority for Shinhan Bank. Any online payment transactions made via Shinhan Visa card will be verified through OTP security code sent to cardholder’s email or SMS to ensure absolute safety.
Thirdly, attractive utility is the prominent feature of Shinhan cards. With an extensive network of more than 200 alliance merchants in a wide range of business, from shopping, dining to spa and healthcare, Shinhan cardholders have the opportunity to enjoy exclusive privileges from reputable brands. Besides, customers also have chances to enjoy excellent card utilities offered by Shinhan Bank, such as bill payment, payment with Samsung Pay, flexible cash disbursement and others to enhance customer experience.
By continuously launching new card products with many exceptional features, Shinhan Bank is gradually strengthening its firm position in the card business in particular, and retail banking in general, in Vietnam. In the coming time, Shinhan Bank will continue its research and development to launch more convenient card products to effectively meet the diverse needs of customers.