Southeast Asia Commercial Joint Stock Bank (SeABank, stock code SSB) and Visa Inc. have strengthened their comprehensive partnership through a strategic cooperation agreement focused on developing digital payments. This collaboration is designed to enhance SeABank's ability to provide top-tier solutions, improve data capabilities, and leverage expertise, thereby unlocking new opportunities for innovation and accelerating the advancement of SeABank’s payment services strategy.
As part of this collaboration, Visa and SeABank are executing effective strategies to promote digital payments through five key pillars: enhancing the customer experience on digital platforms, improving card products and services, optimizing the card service ecosystem on digital platforms, boosting efficiency and creativity in marketing and communication activities, and strengthening risk and fraud management in card issuance and payments.
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 and improve the customer experience of card products and services on digital platforms“.
With Visa's support, SeABank has revolutionized its card services and introduced a range of new card lines, including Signature, SeATravel, SeALady, SeAEasy, SeAGolf, and BRG Elite, each offering unique privileges tailored to different customer segments. The Bank's total card transaction revenue has grown steadily, with an annual average growth rate of approximately 125%. SeABank has also received numerous prestigious awards and honors from organizations such as Visa and Control Case Organization for its outstanding card products and services.
As Vietnam rapidly transitions from cash to digital payments, numerous opportunities for card development arise. This expanded cooperation is expected to enable SeABank to make significant advancements, paving the way for the future of digital payments and contributing to the nation's digital transformation.