VIB is expanding its cooperation with global payment partners to develop a new-generation card and digital payment ecosystem. This initiative aligns with the bank's goal of leading Vietnam's card market. Visa stands as a strategic partner for VIB in the card and digital payment sector.

Visa has supported VIB in numerous innovative initiatives, ranging from developing personalized consumer and corporate card products and applying modern payment technology to expanding financial solutions for businesses. The collaboration between the two entities has evolved beyond traditional card issuance, moving towards a co-development model for products and technology across various customer segments.

VIB Visa cards and features enable flexible and secure payments for users. Photo: VIB

During a recent high-level discussion, Dang Khac Vy, Chairman of VIB, emphasized Visa's strategic role in the bank's efforts to build a new-generation payment ecosystem in Vietnam. He noted that the initiatives implemented by both parties over many years demonstrate a deep and long-term oriented partnership. "We anticipate the next phase will create greater breakthroughs for Vietnamese users, especially through deeper personalization of banking and financial services," he stated.

Stephen Karpin, Visa's Regional President for Asia Pacific, observed that Vietnam is experiencing accelerated digital payment transformation, with increasing demand for convenient, secure, and personalized financial experiences. Visa commends its banking partners in Vietnam for bringing innovative payment solutions closer to users, highlighting VIB as a bank with many outstanding initiatives in the card and digital payment sector.

VIB and Visa have introduced numerous new solutions to the market throughout their years of cooperation. A notable achievement is VIB PayFlex, which utilizes Visa Flex Credential technology. This allows cardholders to make payments from both credit and payment accounts using a single card.

In the corporate segment, the two parties co-developed a supply chain finance solution. This aims to expand access to capital, increase transparency, and optimize cash flow for businesses. This collaboration marks the first time VIB and Visa have partnered deeply in the B2B payment space.

VIB PayFlex feature. Photo: VIB

Visa has recognized these collaborative results through several annual awards presented to VIB. At the Visa Vietnam Client Conference 2025, VIB received three awards: Digital Pioneer (for pioneering digital solutions), Payment Volume Growth (for leading growth in Visa card transaction volume), and Supply Chain Payment & Commercial Card Innovation 2025 (for innovation in supply chain payments and commercial cards). Previously, Visa also honored VIB with the Breakthrough Personalization with AI award, recognizing it as the first bank in Vietnam to apply AI to personalize credit cards.

Dang Tuyet Dung, Country Manager for Visa Vietnam and Laos, stated that VIB clearly demonstrates an innovative approach in bringing modern payment solutions closer to users. According to Dung, the cooperation between the two will continue to promote cashless payments and enhance financial experiences in Vietnam.

This collaborative foundation also serves as a basis for VIB to enter a new development phase, with expectations of expanding its card ecosystem. In 2025, the bank surpassed the 1,1 million circulating credit card mark, a 29% increase from the previous year, officially joining the group of banks with over one million credit cards. Total card spending reached over 5 billion USD, reflecting the actual usage frequency and user loyalty to the bank's payment ecosystem.

At the Annual General Meeting of Shareholders 2026, Dang Khac Vy announced that cards would remain central to VIB's digital ecosystem development strategy. This strategy connects cards with platforms like MyVIB and Max Digital Bank to create a more seamless transaction experience for customers. Over the next three years, the bank aims to lead the card market not only in scale but also in experience and utility value.

One of the initial steps in this strategy is Max Card, a credit card line based on a subscription banking model. This product allows users to actively choose and upgrade benefits according to their needs through four membership tiers: Starter, Plus, Pro, and Elite. Moving away from the traditional credit card model, Max Card focuses on flexible personalization based on individual spending behavior.

According to Dang Tuyet Dung, Max Card represents a new direction in card product development in Vietnam, as users increasingly demand flexible and personalized financial experiences. "This trend is also something Visa is promoting in many markets globally, and we observe that banks in Vietnam, including VIB, are actively researching and implementing new models that align with modern consumer trends," Dung said.

Shortly after its launch, Max Card achieved notable results: 5,000 cards were issued within the first 10 days, and the number of card users steadily increased by 1,000 cardholders daily. This demonstrates the appeal of the subscription banking model to young customers in Vietnam. Max Card was also recognized by the Vietnam Records Organization as the first credit card line allowing customers to actively subscribe to membership tiers based on personal needs. According to a Visa representative, this is one of the card products with outstanding user growth rates in the Vietnamese market during its initial deployment phase.

Tuong Nguyen, Deputy Chief Executive Officer of VIB, emphasized that VIB's card strategy for the upcoming period involves extensive new-generation restructuring. This shifts the focus from leading in quantity to leading in experience and value, powered by AI technology and real-time personalization. Max Card is the first step in this journey, pioneering a trend of cards that adapt flexibly to individual needs. The collaboration of card partners like Visa, from technology to its global network, is a crucial factor for VIB to realize this vision.

After many years of cooperation, VIB and Visa continue to expand their development orientation towards a modern payment market. In this market, financial products are more deeply integrated with the digital ecosystem and personalized according to user behavior. Built on technology and AI, the bank's card solutions, along with the MyVIB and Max powered by VIB ecosystems, are expected to further enhance convenient and optimized payment experiences for nearly three million cardholders in the near future.

Hoang Dan