SeABank to issue most modern EMV Chip MasterCard

In particular, SeABank will issue the EMV Chip Master Card with optimal security standards which are unprecedented in Vietnam as well as in Asia, designed to offer customers the top security utilities while minimizing risks which may occur during use. At the same time, this event speaks volume for SeABank’s strong rise and robust financial capabilities on the card market in particular and the finance-banking sector in general.

Visa and MasterCard are the world’s two largest and best-known card organizations. In order to become a member of these two entities, banking institutions are required to be legally and financially qualified in accordance with internationally accepted standards. Members of these two entities are also supposed to possess potentials for development and fully meet requirements of technology and security in modern banking services. Membership in Visa and MasterCard is classified into 3 categories: Principal Membership, Associate Membership and Participant membership. Backed by Société Générale’s guarantee, SeABank has become a principal member without having to place a deposit of USD 1.4 mil. In the time to come, Société Générale will continue to support SeABank in implementing and launching EMV international credit and debit cards bearing the Visa and MasterCard brands.

Strengthened position and capabilities

Ms. Nguyễn Thị Hương Giang – Deputy General Manager of SeABank said: “In Vietnam, it is  not easy to obtain membership of both MasterCard and Visa by means of fiduciary guarantee. Being bale to do this, SeABank has affirmed its standing as one of the leading joint stock commercial banks in Vietnam as well as its robust growth drive on the marketplace. This is an important basis for us to launch EMV credit products bearing Visa and MasterCard brands in the time to come, thus offering more and more utilities”.

Supported by the latest version R08 of the state-of-the-art T24 Temenos corebanking software integrated with the Way4 card switching and management, SeABank has been issuing several categories of card including S24+, S24++, family card, partnership cart, etc. In the near future, several more cards such as  international EMC credit card, international EMC debit card, international EMV differed debit card, etc. in order to best meet customers’ demands. SeABank’s ATM cards possess high security and safety while integrating multiple utilities of an electronic wallet. They can be used at SeaBank’s ATMs as well as over 6,200 ATMs of BankNetVN and SmartLink’s members nationwide. Besides, SeABank’s ATMs have also acquired cards branded CUP (China Union Pay) via the BanknetVN switching system, thus enabling card holders of CUP to perform cash withdrawal and inquires at SeABank’s ATMs as well as making use of the latter’s network. In the future, via BanknetVN, SeABank will acquire CUP’s cards at its card acquiring points and, vice versa, cards issued by SeABank shall be acquired by CUP’s system.