Visa, a world leader in digital payments, and Vietnam Airlines signed an MoU on June 23, with plans to refine the user experience and raise Vietnam Airlines’ digital capabilities.

The MoU signing ceremony between Vietnam Airlines and Visa on June 23

This is in line with Visa’s commitment to empowering digital payments in the country, reinforced by a visit to Vietnam by Oliver Jenkyn, Visa Group president of Global Markets.

Visa country manager for Vietnam and Laos Dang Dung said, "Visa is committed to advancing cashless payments in Vietnam, and our partnership with Vietnam Airlines is an important step towards this goal."

“We are particularly excited to launch our unique co-branded product with Vietnam Airlines. By working together, we will ensure that passengers can enjoy a convenient and secure digital experience throughout their journey," she added.

The collaboration aligns with the long-term commitment of both players to enhance the consumer experience, especially in terms of digital payments. Visa’s goal is to facilitate the growth of communities, businesses, and economies around the globe by creating the most advanced, user-friendly, trustworthy, and secure payment network possible, contributing to creating a cashless society.

Chairman of Vietnam Airlines Dang Ngoc Hoa and Visa Group president of Global Markets Oliver Jenkyn agree on the direction of digital payment development and consumer experience enhancement

As part of its five-year digital transformation strategy to 2026, Vietnam Airlines aims to become Vietnam’s first digital airline by 2025, focusing on the three key factors of digital technology, digital data, and digital culture.

With its focus on improving the customer experience and developing digital products and services, Vietnam Airlines is striving to be a digital transformation leader in ASEAN’s aviation industry.

Nguyen Sy Thanh, director of Lotusmiles at Vietnam Airlines stated, "As we progressively reinstate and establish new routes that link Vietnam with the rest of the world, we eagerly anticipate collaborating with Visa, the word leader in digital payments, to guarantee a convenient and secure digital payment experience for all our passengers."

"This partnership with Visa signifies a significant milestone on Vietnam Airlines' digital transformation expedition, encompassing not only operations, services, and customer care, but also the creation of a comprehensive digital ecosystem,” Thanh added.

Moving forward, both Visa and Vietnam Airlines are committed to collaborating on other opportunities, including enabling digital acceptance capabilities and leveraging Visa Consulting Analytics to create clear customer segments and analyse customer spending behaviour to identify areas of enhancement.

According to the 2022 Visa Consumer Payment Attitudes Study, over half of all Vietnamese consumers have taken a trip since 2021, with Japan, Australia, and South Korea among the most chosen overseas destinations. The majority also plan to travel during the coming year, indicating strong demand for convenient flight options.

Moving forward, 48 per cent of Vietnamese respondents expect overseas travel to go fully cashless, highlighting a desire to pay for travel through digital methods.

The Visa Green Shoots Radar research from September 2022 shows positivity among Vietnamese consumers regarding the current and future health of Vietnam’s economy. This will inspire confidence in companies focused on attracting new customers.

To illustrate, 68 per cent of Vietnamese believe the economy is stronger now compared to during the pandemic, and 84 per cent believe it will be even better in a year. Both of these figures are the highest among the surveyed nationalities. In addition, 23 per cent of Vietnamese respondents believe their travel plans will be unaffected by rising prices in the sector.