A new headquarters of MasterCard in Vietnam

This week MasterCard Worldwide announced that it opened its representative office in Vietnamese Ho Chi Minh City. The office reportedly will function as MasterCard’s communication headquarters in Vietnam and will be responsible for providing creative and safe payment solutions countrywide. Additionally, the office will be working on establishing business relations between MasterCard and local banks. Thus, with the payment cards to be introduced Vietnam will be able to shift to alternative payments.

MasterCard has been partnering with Vietnamese institutions for a number of years. Among the conjoint projects launched in Vietnam there are debit cards for young customers, intelligent credit cards and chip cards. In addition the card network also contributed to Vietnam’s tourism industry by bringing tours of Asia-Pacific MasterCard holders to the country. Taking into consideration the prospects of further growth in tourism sector of Vietnam MasterCard needs to implement more creative payment solutions to serve the country’s consumers, notes the vice president and director of MasterCard Worldwide in Indochina, Ai June Schult.

According to the fourth-quarter 2008 MasterCard Worldwide Index of Consumer Confidence survey the level of consumer confidence in Vietnam is the highest in the region.