Shinhan Bank leads in commercial payment

Shinhan Bank Vietnam has been honored for its "Leadership in Commercial Payment Volume 2022" and "Outstanding Growth in Payment 2022" by VISA International Card Organization (VISA).

The award was given as part of the recent Visa Client Forum 2022 program.

The South Korean lender has been praised for its "Leadership in Commercial Payment Volume" for the ninth year in a row. This award is recognition for the bank's efforts in assisting domestic and international businesses in implementing modern, convenient, and secure card payment methods, thereby improving management efficiency and business administration.

For the award "Outstanding Growth in Payment 2022”, VISA highly praised Shinhan Bank's achievements in its journey of innovation and diverse application of cashless payment technologies in Vietnam, including contactless payment and e-commerce transaction payment.

In 2022, Shinhan Bank recorded card sales up 33% year-on-year. Furthermore, the growth rate in card sales has reached the leading position, demonstrating the card utilities provided by Shinhan Bank truly meet customer needs.

The value of card payments in Vietnam grew at 13.7% in 2021, a sharp increase over the previous year. Vietnam's card payment market is expected to grow by 23.8% to VND859.2 trillion ($37.6 billion) in 2022, the bank quoted recent reports as saying.

Shinhan Bank is also motivated by the rapid growth of the card payment market in Vietnam. Moreover, in order to maximize the value of use cards and promote customers' life enjoyment, the bank invests consistently in researching and refining card payment features, as well as launching convenience lines of cards with multiple appealing various sectors, the creditor said in a release.

"These awards not only recognize the bank's rapid growth in card transaction sales, but also reflect the quality and value of benefits and experiences provided by card products issued in greater quantities," it noted.

Shinhan Bank plans to launch Mobile Banking SOL 3.0 next month, with several remarkable features and a user-friendly interface that will maximize clients' digital banking experience. Customers can also use the Mobile Banking SOL 3.0 application to manage card transactions and collect and redeem reward points.