On November 23, 2022, in Hanoi, Deputy Governor Pham Tien Dzung of the State Bank of Vietnam (SBV) had a meeting with Mr. Ling Hai, Member of Mastercard’s Management Committee and Co-President for International Markets of Mastercard.
Overview of the meeting.
At the meeting, SBV Deputy Governor Pham Tien Dzung welcomed Mr. Ling Hai and Mastercard’s mission to visit and work with the SBV. Congratulating Mr. Ling Hai on his new position, the SBV Deputy Governor expressed his beliefs that, with his rich experience, Mr. Ling Hai would continue to bring further successes to Mastercard and the markets of which he is in charge.
After many years operating in Vietnam, Mastercard is currently the largest card payment partner in the payment area in the country. According to the SBV Deputy Governor, Mastercard's growth in the recent years had been remarkable in all aspects of operations, issuance, payment, etc. Mastercard has also collaborated with the SBV to implement new regulations, conduct researches, implement new technology solutions, especially in areas related to payment.
SBV Deputy Governor Pham Tien Dzung speaks at the meeting.
Many Vietnamese banks have received the technology and solution support from Mastercard. Especially, Mastercard has been one of the first international card organizations to actively coordinate with the National Payment Corporation of Vietnam (NAPAS) to complete ahead of time the card switching as required by Circular 19 of the SBV, thereby facilitating production and business operations in Vietnam in the context of the pandemic.
On the side of Mastercard, Mr. Ling Hai, Member of Mastercard’s Management Committee and Co-President for International Markets, expressed his wishes to further develop the partnership between Mastercard and the Vietnamese partners; contributing to the development of the banking sector in Vietnam through investment activities, innovative solutions; exchanging and sharing Mastercard’s experience on payment, network security, etc. According to Mr. Ling Hai, digitization has become an inevitable trend around the globe and no country or organization could stay out of this process.
Mr. Ling Hai, Member of Mastercard’s Management Committee and Co-President for International Markets, speaks at the meeting.
SBV Deputy Governor Pham Tien Dzung emphasized that, the perspective of the Government of Vietnam as well as the SBV is that technologies must serve the people, and help to achieve financial inclusion, including technologies in the fields of payment, credit access, etc. The SBV Deputy Governor proposed that Mastercard strengthen its cooperation with and support to Vietnam in order to promote strongly payment operations; continue to pay attention to security and protection of personal information, consumer protection; keep up with the development of technologies; support in terms of training, knowledge transfer in the field of payment.
LK