📣Vietnam🇻🇳: ACB Bank launches Southeast Asia’s first Visa Flex Credential system

📣Vietnam🇻🇳: ACB Bank launches Southeast Asia’s first Visa Flex Credential system

This solution allows cardholders to switch between debit and credit payment modes using a single card.

▶️The bank expects this offering to improve activation rates, reduce the number of inactive accounts, and generate valuable data for future product development. Initially, the functionality aims to increase payment flexibility for consumers, since debit cards are predominant in Vietnam.

▶️The launch was supported by the digital payments platform Way4, developed by Belgian company OpenWay🇧🇪.

▶️Technological update: Starting July 1, 2025, the Vietnamese banking sector will officially stop using magnetic stripe cards, consolidating the shift toward chip payment technologies and digital solutions.

This move is expected to significantly reduce ATM skimming cases.
In fact, ACB had already discontinued the use of magnetic stripe cards, both international and local, for ATMs since September 2024.

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