Skim it off

VietinBank is the pioneer in applying new technology and wait in front for the inevitable trend of card payment (Photo: VietnamPlus) Hanoi (VNA) – Though the volume of issued credit cards and payments via credit cards have decreased sharply in Vietnam, VISA and MasterCard have been collecting different fees from a transaction. Vietnamese banks current have to pay VISA and MasterCard 3-4 types of fees for a transaction. The real situation of “fees overlapping fees” has partly affected card business activities of banks and hindered cashless payments in the country. The Vietnam Banks Association (VNBA) has recently sent a document to VISA and MasterCard, which account a large market share of the world’s card market, asking them to exempt or reduce fees to support banks in Vietnam. Foundation to cut fees for customers In fact, the complex developments of the COVID-19 pandemic have badly affected business activities of banks in Vietnam, including international credit … [Read more...] about Cutting fees for international credit cards to boost cashless payments

Vietnamese rice, particularly the popular ST25, is highly appreciated by the international community, photo Le Toan Nguyen Quang Hoa, director of Duong Vu Co., Ltd. – one of the largest exporting and processing companies in the Mekong Delta province of Long An – described to VIR the details of another successful year for the company, with export volume of nearly 300,000 tonnes worth nearly $100 million. “The exact figures are not yet available but they are much higher than last year. The company’s key export markets are the Philippines and China, and in 2021 we will continue to expand our customer base in these two countries,” Hoa said. Figures from the Ministry of Agriculture and Rural Development show that, as of the end of 2020, the rice export quantity of Vietnam saw a light decrease of 2.5 per cent from 6.37 million tonnes in 2019, but still reaped a record export turnover of over $3 billion, up from $2.81 billion in the previous year. The average … [Read more...] about Stage set for scale-up of nation’s rice