MBBank’s Cards

Service In The
VietNam Market

Lecturer: Assoc. Prof. Dr. Tran Si Lam

 Team Member

Group 9
Trầ n Hồ ng Anh ( Leader ) 2105002036
Đoàn Trâm Anh. 2105000016
Đỗ Vân Anh 2105003020
Bùi Hương Giang 2005293104
 Introduction
Contents Operations Performance of MB
Bank’s Cards Service in VietNam
Market
Evaluation of MB Bank's cards
services and approach in the
VietNam market.
Recommendation
OVERVIEW OF
MILITARY COMMERCIAL JOINT
STOCK BANK

Abbreviated name : MBBank

Head Office : MB Building,
No. 18 Le Van Luong, Trung Hoa Ward,
Cau Giay District, Hanoi City, Vietnam
Phone: 1900 545 426
 Vision & Mission
“For the development of the country, for the

Mission benefit of customers”

Vision

“To become a leading retail bank in

Vietnam, providing high-quality
financial products and services to
meet all customer needs”
INTRODUCTION TO CREDIT CARDS AND DEBIT CARDS

CREDIT CARD

MB Bank credit card is the key

product of Military Bank (MB) for
individual customers, providing
many outstanding utilities, meeting
the needs of payment, shopping and
effective financial management.
Some popular personal credit card
products include MB Visa Classic, MB
Visa Gold, MB Visa Platinum
INTRODUCTION TO CREDIT CARDS AND DEBIT CARDS

DEBIT CARD

Debit card means when using a

debit card to shop or withdraw
money, the amount will be
deducted directly from the
balance in your bank account,
instead of a loan like a credit
card.
Introduction to MB Bank’s Cards Service in Vietnam
Market

MB Bank entered the card market in 2008,

marking a significant milestone in its strategy
to diversify card products and services.
Recognizing the growing trend of cashless
payments in Vietnam, MB focused on
developing diverse products, collaborating to
expand the card acceptance network,
implementing incentive programs, and
upgrading the payment system. MB's goal is
to become the bank with the largest card
market share in Vietnam within the next 5
years, with card service revenue growing by
an average of 20% per year, the number of
card-using customers reaching 10 million, and
service quality being optimally enhanced.
 Operations Performance of MB Bank’s Cards
Service in VietNam Market

Operation of Credit Card Service

The card issuance process. Customers can When using MB's credit card
register online via the website or go to services, you must pay fees such
transaction points to receive direct support. as: card issuance fee,
After registration, MB will review the maintenance fee, cash
application, and once the review is withdrawal fee at ATM.
complete, the customer will receive a
notification. Review results via email or
registered mobile phone number.

Payment methods of MB credit cards are

also very diverse, customers can pay at the MB Bank has very few incentive
bank, pay via Internet Banking, or via POS programs for customers using
machine. credit cards
Operations Performance of MB Bank’s Cards Service
in VietNam Market
Operation Performance of Credit Card Service

MB Bank rockets as a top credit card issuer in

Vietnam's fast-growing market. MB Bank also collaborates with esteemed
partners, enabling customers to use MB credit
Revenue from card services is up over 21% in 2022
cards nationally and globally.
and on track for continued growth in 2023. (This adds
the growth rate for 2022 and indicates continued
MB's 24/7 professional customer service boosts
growth)
satisfaction, reflecting its strong development
strategy, technology investments, and service
MB's card services are booming. Revenue is surging,
and they're attracting new customers with a 30%
focus, solidifying its leadership in Vietnamese
increase in the first 9 months of 2023 compared to banking.
2022.
 Operations Performance of MB Bank’s Cards
Service in VietNam Market

Operation of Debit Card Service

The card issuance process. Customers can register online via the website
or go to transaction points to receive direct support. The customer only
needs to be a Vietnamese citizen or a foreigner with a valid passport, be 18
years old or older and have an account with MB Bank

Each MB Bank debit card is directly linked to the customer's account.

When making a transaction using the card, money will be deducted
directly from the balance of this account
 Operation Performance of
Debit Cards Service

MB Bank debit card transactions

rose 20% in volume and 18% in
MB Bank leads Vietnam's debit
value year-over-year.
market (15% share) and tops online
payments via Napas.

MB Bank projects 25% growth in

debit card revenue for 2023, MB Bank's debit cards surged 15% to over
exceeding 10 trillion VND. This 27 million by April 2023. International cards
maintains their 15-20% CAGR grew 18% to surpass 15 million, while
trend. domestic cards climbed 12% to over 12
million.
Success
Prestigious Recognition: MB's
achievements include "Vietnam
Outstanding Retail Bank 2023" and
"Top Card Products/Services 2023."

Diverse Payment Ecosystem: MB

offers a wide range of card types,
streamlined issuance processes,
and various payment channels,
including online and mobile options.

Expanding Market Share:

Collaborations with over 30
domestic and international banks
have facilitated payments across
170+ countries.

Strong Revenue Growth: MB's

card services have seen
impressive growth, and this is
expected to continue.
 Limitations
High Transaction Fees: MB's debit and credit card fees can be high. This is
due to technology and risk management costs. Additionally, MB lacks
efficient cost management strategies, impacting customer usage and
loyalty.

Security Concerns: MB's security system needs improvement in

transaction tracking and fraud detection. Two-factor
authentication could significantly enhance security.

Limited Incentive Programs: MB's communication and incentive programs

are weak, leading to low customer engagement. Promotions lack creativity
and fail to attract new customers
 Objective Limitations

Credit Risk
Customers' failure to repay credit card
debt can lead to financial losses for
MB.

Competition Technology Limitations

Competition from other banks like TP Bank, Limited infrastructure
Techcombank, and VP Bank puts pressure development hinders card
on MB to expand its customer base. adoption in rural areas.
RECOMMENDATION Fee Reduction Programs
Implement fee reductions for specific transactions, like
free ATM withdrawals during the first month or free
international payments for high-value transactions.

Utilize EMV chip technology and implement multi-factor

Advanced Security
authentication to enhance transaction security and
Technologies protect customer accounts.

Develop targeted programs for different customer

Expanded and Diverse
segments, partner with various brands, and offer
Incentive Programs seasonal promotions to attract new customers.
 Operations And Project Management

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