Leading Vietnam Bank selects MatchMove Pay to Expand in Fast-Growing Mobile Payments Space
Singapore and Ho Chi Minh City, Dec 7 December 2014
HD Bank, one of Vietnam’s leading commercial banks will launch the first Virtual Payment Card in Vietnam with MasterCard in early 2015. In a dramatic move to rapidly increase its market share, HDBank has selected the secure cloud-based MatchMove Wallet, an award-winning, fully customizable mobile wallet and payment card Platform-as-a-Service (PaaS) to extend its reach to customers in the significant unbanked and uncarded segments.
With e-commerce sales in Vietnam expected to double in volume to US$4 billion in 2015, HDBank and MatchMove Pay saw this as a strategic opportunity and time to present the first full-featured mobile wallet, with a MasterCard virtual card embedded at launch, to millions of current and future customers, who want to shop with smartphones using a safe and convenient online payment method.
Mr Nguyen Huu Dang, CEO of HDBank said, “With internet penetration growing exponentially in Vietnam, access to the internet is no longer the obstacle to online shopping. The issue with Vietnamese not adopting credit cards for online shopping is because they do not fully trust the use of cards in online payments. With the ground-breaking, innovative technology of safe and secure payment card service, MatchMove Wallet is the perfect solution that we have trusted to cooperate so that we can give our customers an added value while using HDBank’s payments service.”
“Our vision has always been to make e-commerce accessible and safe to all by providing mobile payments services to the millions of unbanked and uncarded in growing economies. We are delighted that HDBank shares the same vision as us”, says Mr Shailesh Naik, Founder and CEO of MatchMove Pay.
The MatchMove Wallet is a customisable PaaS that enables any major consumer brand to issue safe and secure mobile payments services that can help increase revenue, loyalty and customer engagement. The safety and security of the MatchMove Wallet lies in its dynamic, one-time Security Code feature. The e-wallet contains pre-paid cards that work just like credit cards for online transactions.
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About MatchMove Pay
MatchMove is Singapore’s fastest growing technology company, providing innovative enterprise solutions to help businesses increase revenue, user engagement and loyalty through the strategic use of our customizable cloud-based platforms.
In 2014, MatchMove Pay launched the MatchMove Wallet, Asia’s first mobile payment card, in partnership with American Express. The MatchMove Wallet is a platform-as-a-service that enables any major consumer brands, banks, telcos and regional e-commerce sites to easily issue secure mobile payment cards to reach millions of potential shoppers with smartphones in Asia and emerging markets. The wallet also supports other major networks like MasterCard and JCB.
MatchMove Pay has since been recognised internationally as a company for its outstanding innovation. This year, MatchMove Pay defeated a strong line-up of 14 other finalists to emerge as “Top Innovator” in global fintech competition, SWIFT Innotribe Startup Challenge at SIBOS in Boston. The company was ranked as Singapore’s fastest-growing technology company in Southeast Asia in the Deloitte Technology Fast 500 Asia Pacific in 2013 and also awarded the Red Herring Top 100 Asia and Red Herring 100 Global in 2012.
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HDBank is one of the top 10 largest joint stock commercial banks in Vietnam. With the strength of the recent acquisition of 100% stocks of SGVF, which is a financial company belonging to the French financial group, Société Générale, and the recent merge of DaiABank to HDBank in 2013, HDBank has even enhanced its position in the banking and finance industry in Vietnam and expanded internationally. In recent years, HDBank has been entrusted by millions of customers thanks to its attractive offers and international-standard range of banking products and services.
To date, HDBank has had more than 200 branches and 2,000 trading offices nationwide.
HDBank has so far received a lot of prestigious awards from various well-respected organisations within and outside of Vietnam:
- Tier A Bank, awarded by the State Bank of Vietnam
- Bank with Outstanding Performance, awarded by the State Bank of Vietnam
- Prime Minister’s Certificate of Merit
- President’s Certificate of Merit
- Viet Nam’s Strong Brand Award, awarded by Vietnam Intellectual Property Association
- National quality Award, award by the Prime Minister
- The best Savings Bank Award
- Bank with outstanding security and IT system in 2013, awarded by IDG
- Bank with best technology product in 2013, award by the Vietnam Economic Times newspaper and the Tư Vấn Tiêu & Dùng magazine
- Bank with the best Cash Management of Vietnam, conferred by Asiamoney magazine for 3 years continuously
- Bank with the best Cash Management of Vietnam, conferred by EUROmoney magazine for 4 years continuously
- World Payment Management Prize (conferred by Citigroup)
- Outstanding International Payment Prize (awarded by Citibank)
- “The excellent annual report” of Vision Awards 2012 conferred by League of American Communications Professionals (LACP)