Adding value through collaboration
Last week, the Bank for Foreign Trade of Vietnam (VIB) to 15 joint-stock commercial banks and two founding companies have announced the establishment of JSC Smartlink Card Services.
This company is specialized in providing services related to payment cards, management and operation of the card payment network member banks and the development of electronic payment channels.
Here is the content of our conversation with Ms. Nguyen Tu Anh, general director of Smartlink.
Can you tell us what that reason is affiliated Smartlink Card Alliance VCB split up a joint stock company?
VCB Card Alliance was founded in late 2003 and VCB is dominated by the leading bank in the card business, with modern technology systems, experience and resources has stood out as the bank switching out the card and support commercial banks shares issued deployed operations and domestic payment card brand Connect24, international card issuer MasterCard branded payment cards and other international.
After nearly 4 years of implementation, VCB Card Alliance has attracted 25 banks participating members, including 17 banks have connected successfully deployed and operational stability.
To professionalize the management system for VCB card switching, the development of electronic payment channels to support the use of the card as well as to strengthen and expand relationships multilateral cooperation, links to the development, VCB and the member banks have agreed to establish joint stock company Smartlink card with VCB is the lead bank.
With the launch Corporation Smartlink Card Services clients will get what utility, ma’am?
On the basis of the alliance system has been operating VCB card stability, when in operation, SmartLink will provide more convenient services for customers of member banks. Namely: payment via Smartlink network, the bank’s card holders can use the ATMs and POS of other banks in the alliance, bringing convenience to customers as well as saving costs and resources for member banks.
Along with member banks and partners, Smartlink also provides customers with advanced product line product line includes Smartlink card prepaid gift cards, electronic payment cards, travel cards …
Smartlink most important piece is the development of electronic payment channels connecting the member banks with suppliers of goods and services, allowing customers to use the bank card members shopping done goods and services, pay phone charges, electricity charges, water through electronic transaction channels such as Internet, mobile, ATM and POS.
16 member banks of Smartlink get preferential treatment when using the services of Smartlink? As for the other banks, why?
One of the criteria that the SmartLink must follow to avoid unfair competition between member banks is to adopt a policy consistent products and services to member banks.
With other banks wishing to participate in the system connection, SmartLink always ready to provide services. However, banks also have to ensure a certain number of conditions on standards of technical systems before making connections.
Both the Board Chairman and General Director of Vietcombank are people, so dominant Smartlink VCB? She can tell how much VCB accounted for an equity ratio of Smartlink?
The nominated and elected Chairman of the Board of Directors of the Company approved by the General Meeting of Shareholders of the Company (as the member banks) through. Director General by the Board of the Company on the basis of a selection meeting requested by the Board in place. In the ownership structure of the company, accounting for 11% stake VCB.
The bank’s competitors has recently collaborated with each other through Smartlink, according to her, will that cause instability in the operation of the SmartLink?
Each bank has a certain strength of the product or service provided to block its retail customers. Participation in connection with Smartlink system will be an opportunity for banks to increase the diversity of products, increase the added value for the service provided, and create even more convenient services for guests blocks his line with a policy of products and services are applied uniformly Smartlink for member banks.
The goal of Smartlink in the future look like? Smartlink has prepared for this purpose to where?
Smartlink is established aimed at two basic objectives: The first is the provision of support services business that card center of bank cards or inability to perform or if implemented, nor highly effective.
The second is the provision of electronic payment channels and services identifiable link, connecting the banks with units supplying goods and services in multi-channel systems, multimedia and technical standards and international operation aimed at promoting the development of other forms of cashless payment, service providers of goods and services in a professional manner.
To prepare for this purpose, with local partners, Smartlink has signed a series of cooperation agreements providing e-commerce services for companies providing mobile telecommunications services, providers Internet services, insurance, travel and large retailers in Vietnam, including: Mobifone, Viettel, VinaGame, Pacific Airlines, Bao Vietnam, Mai Linh, VTC …
Regarding international cooperation activities, Smartlink is also necessary to take steps to become the transaction processing center (3rd-party processor) for all international organizations in Vietnam cards such as Visa, MasterCard, American Express , China Union Pay, JCB, Diners Club. Accordingly, the international card transactions of the member banks perform in Vietnam will be processed right at Smartlink system, solved the problem of economic efficiency of the card payment networks.
Additionally, SmartLink also plans linked to the domestic card payment network of the countries in the region such as Singapore, Thailand, Malaysia … to expand its network and increase card acceptance utility customers members of the bank.