As of the end of the third quarter, Vietnam has around 93.78 million bank cards in circulation, in which the majority are magnetic cards.

If Ocean Bank is sold to foreign investors, this will mark a new milestone in the restructuring process and pave the way for more foreign investors to come to Vietnam.

Small banks and finance companies are now rushing to issue credit cards and compete with big banks as they believe the development potential of the credit card market remains great.

VietNamNet Bridge - A series of attacks by hackers on banks occurred recently, showing that banks’ investments in security solutions are insufficient.

VietNamNet Bridge - Commercial banks appear to be rushing to issue bank cards but Vietnamese still don’t have the habit of making payments with plastic. 

 VietNamNet Bridge – HCM City-based information technology companies complained about arbitrary changes in regulations that caused them huge losses to officials from the Ministry of Information and Communications

VietNamNet Bridge – In a recent conversation with the CEO of one of Vietnam’s hypermarkets, he told me when they opened their first such huge store he didn’t realise the average spend per customer would be so low.