10 million new cards were opened in the first 6 months
VietReader 11-10-2020, 07:52

In the first 6 months of 2020, the number of newly issued cards will reach about 10 million cards. In particular, the number of international credit cards and international debit increased at 24%, higher than in 2019.

Reporting at the Vietnam Bank Card Association’s Annual Meeting 2020, Mr. Dao Minh Tuan – Chairman of the Vietnam Bank Card Association, said that by the end of 2019, the number of circulating cards reached 103 million cards (an increase of 16 , 5 million cards compared to 2018), of which the number of new cards issued in 2019 is 22 million.

In the first 6 months of 2020, due to the impact of the COVID-19 epidemic, the number of newly issued cards is only about 10 million cards. However, international credit and debit cards still recorded good growth, at 24%, higher than in 2019.

10 million new cards were opened in the first 6 months

Vietnam Bank Card Association’s Annual Meeting 2020. (Photo: SBV)

According to Mr. Tuan, although the growth rate of card sales in the whole market in the first 6 months of 2020 has decreased, the proportion structure of card sales tends to shift from domestic cards to international cards and from debit to credit and prepaid cards.

As of June 30, 2020, the number of ATMs circulating in the market reached over 19,000 machines, the number of POS machines in circulation reached over 189,000 machines, a decrease compared to 2019.

Statistics show that transaction performance per POS in Vietnam has increased over the years and reached 15% growth in the first 6 months of 2020. The card type used mainly for payment at POS is still an international card ( accounting for 73%).

Source: vietnambiz.vn – Translated by fintel.vn