From November 2020, Saigon – Hanoi Commercial Joint Stock Bank (SHB) has implemented conversion and new issuance of local chip cards in compliance with VCCS standard, and added contactless payment feature to Solid domestic debit card products. In addition, Solid SHB domestic debit card holders will get free conversion from magnetic card to chip card from now until June 30, 2021. The new form of card applying the above modern technologies will give customers a convenient, fast and secure shopping experience.
The recent Survey of Consumer’s Payment Attitude conducted by Visa revealed that 74% of consumers in Vietnam expect to increase cashless payment in the next 12 months. Through the survey, it can be seen that contactless payment technology will be a strong trend in the near future.
Understanding the needs and wants of customers and strictly complying with Circular 41/2018/TT-NHNN on supplementing the basic standards (VCCS) regulations on chip cards to improve the safety of domestic card transactions, from November 2020, SHB has issued domestic chip cards in compliance with VCCS standards for the Solid domestic debit card products with a term of 6 years.
Domestic chip card according to Vietnam’s VCCS standard is an electronic chip card built similar to the standards of international card organizations, capable of storing and encrypting information with high security. Specifically, these chip cards will have a small size chip, located on the front of the card, right above the card number to store data. When making payments, the VCCS chip card will create a secure and never-repeated transaction code, increasing security and reducing the risk of fraud and forgery.
In addition to the VCCS chip card standard, SHB’s Solid domestic debit card product line is equipped with contactless payment feature with outstanding utilities, helping customers to make transactions quickly and save time more than ever. Accordingly, when making payment, customers only need to touch the card to POS machines that accept one-touch payment to transact without worrying about excess/change for small value transactions. Especially, with transactions worth less than 1 million VND, customers can make successful payments immediately without entering pin codes, helping to minimize contact in the context of complicated epidemics.
With SHB’s Solid domestic debit card, customers can experience convenient one-touch payment, serving many needs such as: Payment/Withdrawal (transaction at ATM/POS); Public transport ticket; Paying fines for traffic violations; Payment at petrol stations; Other public services, utilities, etc.
In addition, all SHB’s Card products meet Payment Card Industry Data Security Standard (PCI DSS), helping customers to experience the utilities of bank cards, contributing to improving the quality of life. At the same time, in order to help customers control and manage their spending, ensure card payment safety, right after a transaction occurs, SHB will send a notification via SMS and email of customers.
To experience a modern and safe payment method soon in the 4.0 era, customers only need to bring ID card/Passport to any SHB branch/transaction office to issue or register for exchange from magnetic card to domestic chip card. The service to change to domestic chip cards for SHB customers will be free of charge from now until June 30, 2021.
To express thanks to customers who have trusted and used SHB’s services, in addition to creating modern features and services, improving product quality, enhancing safety/security, the Bank will continue to bring to customers many attractive incentive policies, promotions, bring value, benefit and joy to customers when using SHB’s products and services.
For details on domestic chip cards as well as how to convert, please contact SHB’s 24/7 Customer Support Center via Hotline: * 6688 or visit website www.shb.com.vn