Dang Tuyet Dung, country manager for Visa Vietnam and Laos Why did you choose university students as the target audience of your financial literacy education programme? Visa believes the most important financial tool is not a product – it is knowledge. That is why Visa has been developing financial literacy programmes that teach individuals, especially university students. The first reason is that we consider students as the ambassadors of change, and a key factor that will make a lasting impact on the programme’s development in Vietnam. These are the people that will shape the country over the coming years, and as such, it is vital that they learn these skills. Second, the growth of electronic payments is exciting because it benefits everyone by giving them access to faster, more convenient, and more secure ways to pay. Especially, there is huge enthusiasm amongst the Vietnamese youth about technology, and many are shopping online regularly. We expect that, by the time … [Read more...] about Visa kits out students with financial finesse
Electronic diversity visa lottery
Government urged to remove visa bottlenecks
Experts attending the ongoing Vietnam Private Sector Economic Forum urged the government to extend visa waiver policies, especially for high-spending tourists. While Vietnam is the midst of a tourism boom with a record high of 15.5 million foreign arrivals in 2018, a year-on-year rise of 20 percent, the numbers remained lower than that of neighboring countries in the region. Thailand (38 million), Malaysia (25 million), Singapore (18.5 million) and Indonesia (15.8 million) received more tourists than Vietnam, the forum heard. Furthermore, Vietnam has not done a good enough job of cashing in on tourism. A survey released last year at the Vietnam Travel and Tourism Summit revealed that a foreign tourist spent $96 a day on average in Vietnam in 2017, three times lower than in Singapore ($325), and well below that of the Philippines ($115), Indonesia ($132), Malaysia ($134), and Thailand ($163). Vietnam tourism does not do well in terms of repeat visits by foreigners, industry insiders … [Read more...] about Government urged to remove visa bottlenecks
Visa supports financial inclusion in Vietnam
The world’s leading payment technology firm Visa is committed to helping Vietnam become a cashless society. Dang Tuyet Dung, newly-appointed country manager for Visa Vietnam and Laos, shared with VIR’s Nam Phuong the firm’s plans to contribute to accelerating the growth of electronic payments and the digital economy in Vietnam. Dang Tuyet Dung, newly-appointed country manager for Visa Vietnam and Laos Prior to Visa, you worked for 25 years at leading international and local banks. How does this background help you with your current leadership position at Visa? Such a long relationship with the banking industry really gives me a deep and practical view of bank client requirements and how those link with the overall banking strategy across corporate and retails segments. Joining Visa was a great opportunity for me to learn more of the leading technologies and digital solutions, and I see huge potential of how Visa can work even … [Read more...] about Visa supports financial inclusion in Vietnam
Vietnam visa hassles could deter long holidayers
Frenchman Thomas and Thai girlfriend Araya had big plans for Vietnam. Their first visit to the country in August had impressed them so much that they wanted to return for a much longer trip. The first trip happened after they’d traveled from France to Bangkok to visit Araya's parents. As they socialized with Vietnamese people and learnt about different places in the country, they regretted not visiting Vietnam sooner. After the trip, Thomas researched more information about other travel destinations in Vietnam. Fond of motorbikes, he planned to enjoy exploring the northern mountains on one, apart from a leisure trip to Nha Trang, a resort town in central Vietnam, and Ho Chi Minh City for Araya. Vietnam’s beaches are a popular draw among foreigners, but those who want long holidays in the country face complicated visa rules and procedures. Photo acquired by VnExpress The plan was to spend the entire month of November exploring Vietnam, before Thomas starting a … [Read more...] about Vietnam visa hassles could deter long holidayers
VISA sees strong increase in transactions in Vietnam
VISA sees strong increase in transactions in VietnamBy Hung Le Truong Minh Ha, head of client relationship management at Visa Vietnam and Laos, gestures at a digital payments seminar in HCMC on September 19 – PHOTO: LE HOANG HCMC – VISA, the leader in digital payments, on September 19 announced that it has experienced strong electronic spending growth in Vietnam, with the number of transactions on its network increasing by 45% compared with the previous year and payment volume up nearly 37% (from June 30, 2017, to June 30, 2018). In addition, figures released by the network show strong growth in ecommerce spending, with transactions increasing by 44%. Truong Minh Ha, head of client relationship management at Visa Vietnam and Laos, shared the information at a digital payments seminar in HCMC on September 19. According to the company, Vietnam is going through a period of strong economic change, with the country’s businesses and citizens becoming more involved … [Read more...] about VISA sees strong increase in transactions in Vietnam
Visa’s Everywhere Initiative for start-ups concludes
Nine Vietnamese start-ups on Wednesday took part in the finale of the “Visa’s Everywhere Initiative”, a global innovation programme that tasks up-and-coming businesses with solving some of the most challenging issues in payments and commerce. The nine represented a diverse cross-section of Viet Nam’s business scene, with interests in everything from recruiting services, to online marketplaces, to food delivery. They had to submit a solution for one of the following three challenges: How might start-ups leverage social media platforms to create seamless financial/banking experience for millennial segment? How might start-ups give consumers a digital pay-on-delivery solution that meets their needs far better than cash and how might start-ups innovate to expand the acceptance of electronic payments and provide value-added services to merchants? Of the nine, a winner was selected in each of three prize categories: best proposal, people’s choice award and … [Read more...] about Visa’s Everywhere Initiative for start-ups concludes
Nearly 2,000 minors split from parents at border in six weeks: US
Nearly 2,000 minors were separated from their parents or adult guardians who illegally crossed into the United States over a recent six-week period, officials said Friday, as debate raged over how to end the deeply controversial practice. President Donald Trump, facing mounting anger over his administration's "zero tolerance" border security policy, repeated he is incensed about the family separations but continued to blame opposition Democrats for the crisis, which critics say is one of his own making. And the president signalled the drama could drag on. After Trump initially seemed to say he was not keen on a Republican compromise bill that includes a fix to the separation issue as well as DACA protections for young migrants who arrived illegally as children, the White House walked back his remarks. According to a Department of Homeland Security spokesman, between April 19 and May 31, 1,995 children were separated from 1,940 adults who were being held by U.S. border patrol. Amid an … [Read more...] about Nearly 2,000 minors split from parents at border in six weeks: US
HSBC, Visa to expand debit card issuance
HSBC, Visa to expand debit card issuanceBy Binh Nguyen - The Saigon Times DailyHCMC - HSBC and the world’s largest retail electronic payments network, Visa, have announced their new regional agreements over programs to boost new debit card issuance in the Middle East and Asia Pacific, including Vietnam.The five-year regional agreements mark an expansion of HSBC’s current credit card issuing relationship with Visa and Visa’s efforts to combine its global brand and payments expertise with local marketplace knowledge to help clients develop their business.“Visa debit cards are a key element of our customer proposition in the Asia Pacific markets,” Conrado Engel, a regional director of HSBC, said in a statement sent to the Daily.Hans Morris, president of Visa Inc, said the new deal expanded their relationship in some of the fastest-growing areas. “Importantly, this agreement delivers on our strategy to expand Visa’s global debit product offerings … [Read more...] about HSBC, Visa to expand debit card issuance
Explanation of benefits and privileges from SMART Visa
These benefits include (1) Visa validity up to 4 years (instead of the usual 1 year); (2) No requirement of work permit; (3) Extension of reporting of stay to Immigration Bureau – from every 90-day to every year; (4) The right of legal dependents (spouse and children) of the SMART Visa holder to live and work in Thailand equivalent to SMART visa holder (only SMART T type allows dependents of SMART Visa holder to work in Thailand).At a press conference, held at the Ministry of Foreign Affairs in Bangkok on 25 January 2018, all relevant agencies gave an explanation on the SMART Visa. These agencies include the Ministry of Foreign Affairs, the Ministry of Interior, the Ministry of Labor, the Board of Investment of Thailand, and the Immigration Bureau.The Thai government hopes that the SMART Visa will encourage foreign talents and investors to invest in the 10 targeted industries in Thailand and will also enhance knowledge transfer and increase the competitiveness of Thailand in … [Read more...] about Explanation of benefits and privileges from SMART Visa
First foreigners get electronic visa
First foreigners get electronic visaDao Loan HCMC - A number of foreign passport holders have obtained an electronic visa since it was launched on February 1, according to the Vietnam National Administration of Tourism (VNAT). Nguyen Quy Phuong, head of the Travel Department at VNAT, said at least 40 of 60 foreign applicants had received e-visa on the first three days of this month. The number of e-visa getters is increasing as the immigration agency is processing more applications. “The Ministry of Public Security is quickly processing visa applications by foreign passport holders,” Phuong told the Daily last Saturday. The pilot e-visa policy applies to residents of 40 countries for two years starting from February 1. As usual, foreigners can get visa within three working days after they submit all required documents but some have obtained it in just one working day. Phuong acknowledged that the slow operation of the website … [Read more...] about First foreigners get electronic visa