SeABank and Visa strategically cooperate to accelerate digital payments

HANOI, Vietnam, May 30, 2024 /PRNewswire/ -- Southeast Asia Commercial Joint Stock Bank (SeABank, stock code SSB) and Visa Inc. further tightens their comprehensive cooperative partnership by a strategic cooperation agreement on developing digital payments. This cooperation aims to facilitate SeABank's delivery of the best solutions, improvement of data capacity and expertise to open up new opportunities for advancements, thereby accelerating SeABank's payment services development strategy.

Accordingly, Visa and SeABank continues to implement effective strategies to promote digital payments through 5 main pillars including: Improving customer experience journey on digital platforms; Improving card products and services; Optimizing the card service ecosystem on digital platforms; Improving efficiency and creativity in marketing and communication activities; Improving risk and fraud management in card issuance and payment.

Mr. Stephen Karpin (President of Visa, Asia-Pacific Region) shared at the signing ceremony: "We are honored to cooperate with SeABank in actualizing our commitment of enhancing Vietnam's digital payment ecosystem. Partnerships are the key in our journey of supporting banks in improving customer experience and strengthening risk management capacity. Visa is committed to partner with SeABank to obtain the Bank's long-term goals and make further achievements".

Madame Nguyen Thi Nga (Permanent vice Chairman of the BOD of SeABank) shared: "As part of our Digital Convergence strategy, SeABank always prioritizes digitalization of products, services and operations. With the partnership of Visa in the recent years, SeABank has made significant changes in card services and forming increasing impression on customers. The expanded cooperation with Visa acts as a premise for SeABank to further enhance efficiency and operational safety, improve customer experience of card products and services on digital platforms".

With the support of Visa, SeABank has created a revolution on its card services and launched various new card lines including: Signature, SeATravel, SeALady, SeAEasy, SeAGolf, BRG Elite with different privileges tailored for each segments. The Bank's total card transaction revenue has grown steadily over the years, reaching an annual average growth rate of approximately 125%. SeABank also received many prestigious awards and honors from Visa, Control Case Organization, etc. for its card products and services.

As the rapid transition from cash to digital payments in Vietnam opens up many opportunities for  card development, the expanded cooperation is expected to help SeABank break through, thereby opening up opportunities towards the future of digital payment, contributing to the national digital transformation.

source: SeABank