The annual Visa Award recognises industry-leading excellence and financial institutions’ contributions to developing Visa's payment services in Vietnam.

“The Visa Award acknowledges Home Credit's enduring contributions to introducing and improving credit card payment solutions,” said Roman Knaus, head of CRM and Products at Home Credit Vietnam.

Roman Knaus, Home Credit Vietnam’s head of CRM and Products, receiving the trophy from Visa

Home Credit won the Visa Award 2022 thanks to its impressive user growth this year, issuing more than 400,000 cards and achieving 100 per cent on-year growth.

Filip Dosedel, head of Cards and Revolving Products (centre, in black shirt), and Home Credit Vietnam’s Card Team with the award

The benefits of Home Credit's cards include up to 10 per cent cashback when shopping, no fees for active users, 45 days with zero interest, and many other incentives from more than 9,000 partners. Additionally, customers can easily view these perks, control their card spending, and manage payments on the Home App.

According to the Payment Department of the State Bank of Vietnam, the country’s total number of cards had reached over 110 million by the end of June, a more than 22 per cent increase over last year, and cashless payments are growing remarkably.

A survey by Visa released in June found that 65 per cent of Vietnamese people are carrying less cash in their wallets and one-third say they plan to stop using cash in the near future.

Home Credit receives the Visa Award for the third year in a row

Up to 76 per cent of respondents answered that they use e-wallets, while more than 82 per cent use cards.

Visa also pointed out that online shopping and cashless payment solutions are all likely to continue post-pandemic. Two-thirds of Vietnamese shopped online during the pandemic, and half of these made their first purchase through social networks. With contactless payment looking like the future trend, 90 per cent of terminals in Vietnam are ready for this.

More than 80 per cent of respondents said that they use cards, QR payments, and e-wallets at least once a week. More than 50 per cent have started using cards more often, while 64 per cent say they have increased their use of contactless payments and 63 per cent say the same about e-wallets.

Credit cards are gradually gaining popularity with Vietnamese users so commercial banks and consumer finance firms have worked closely with international card giants like Visa and others to issue domestic credit cards.

Entering Vietnam’s market in 2008, Home Credit is now a pioneering digital financial provider, constantly improving service quality and offering leading financial solutions – especially credit cards.

As a testimony to its digital transformation effort, Home Credit recently launched Home PayLater (a buy-now-pay-later service), partnering with many large merchants such as Tiki, OnePay, Meta.vn, and others to bring convenience to customers in the Vietnamese market.