Vietnam launches first NAPAS – Mastercard co-badged card

The National Payment Corporation of Vietnam (NAPAS) and global payment technology company Mastercard have jointly launched the country's first co-badged card, combining domestic and international payment capabilities.

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The announcement was made on May 15 in Hanoi, with the participation of six commercial banks Agribank, BIDV, TPBank, Nam A Bank, PVcomBank, and Vikki Bank.

This marked the first collaboration of its kind between a domestic switching network and an international card scheme in the Vietnamese market. The new card is expected to be rolled out across other commercial banks in the near future, as part of wider efforts to promote cashless transactions and greater financial integration into global systems.

The launch ceremony of the NAPAS – Mastercard co-badged card

The card combines the functionalities of both NAPAS and Mastercard within a single physical card, allowing users to perform both domestic and international transactions seamlessly. In Vietnam, it is accepted at over 650,000 merchants and 20,000 ATMs within the NAPAS network. Internationally, its holders gain access to over 150 million Mastercard acceptance points and more than one million ATMs worldwide.

Winnie Wong, Mastercard Country Manager for Vietnam, Laos and Cambodia, said the launch offers a secure and flexible payment solution, aligned with evolving market needs and contributing to sustainable economic growth in the digital age.

Source: VNA