ASEAN KEY DESTINATIONS
MasterCard PayPass launched in Vietnam
MasterCard Worldwide and Vietnam Export Import Commercial Joint Stock Bank (Eximbank) and jointly launched the MasterCard PayPass in Vietnam recently, introducing contactless payment to the market for the first time.
“By providing consumers in Vietnam with a simple, secure way to pay for small ticket items that consumers purchase most, we hope to play a role in helping the country achieving its goal of reducing cash payments over the next few years,” said Anton Corro, Country Manager & Chief Representative, Indochina at MasterCard Worldwide.
The new MasterCard PayPass has hundreds of merchant acceptance locations nationwide.
The government is reportedly keen on the move towards an increasingly 'cashless' society and aims to aims to reduce cash payment to below 11 percent of total transactions. MasterCard said the goal is to have some 250,000 card-accepting merchants and 200 million transactions per year by 2015.
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