Sacombank surpasses 1 million credit card customers, continuously enhancing value and experiences


With a customer-centric strategy and structured investments in both card issuance and payment acceptance, Sacombank has experienced robust growth in its credit card customer base, now surpassing one million customers.

This milestone marks a significant development in the bank's card business segment and reflects the value and understanding oriented toward customer benefits and experiences in the burgeoning era of cashless payments in Vietnam.

According to several statistical reports, the rate and value of card payments in Vietnam have continuously increased over the years.

The increasing number of Vietnamese hold credit cards

Over the past three decades, the landscape of cashless payments in Vietnam has evolved significantly in terms of legal framework, technological infrastructure, security, and product diversification, all aimed at offering the utmost convenience to citizens.

Credit cards are considered the pioneering payment method in this cashless era. Thanks to continuous innovation and adaptation by card issuing institutions, the Vietnamese card market has made remarkable progress, leading to consumer trends.

With 140 million cards, the average adult holds 2 cards, including both physical and virtual cards. The habit of not using cash has become widespread, leading to a continuous decrease in cash withdrawal transactions through payment cards (ATM cards). People are increasingly using payment cards for online expenses, thus saving additional societal costs. This shift also drives the growth of the credit card market in Vietnam, aligning with the "buy now, pay later" trend and the interest-free credit period of 45-55 days offered by banks, which has gained popularity in recent years.

According to the latest statistics from the State Bank of Vietnam, by the end of Q2/2023, over 10 million credit cards were in circulation. According to the research firm Statista, only 5% of Vietnamese adults own a credit card, compared to 10% in Thailand, 21% in Malaysia, 21% in China, 49% in Singapore, 54% in Taiwan, and 68% in Japan.

With a young population, rapid technological advances, and the growing popularity of e-commerce, the Vietnamese credit card market has substantial room for growth. Banks are also finding ways to attract users.

The credit card ecosystem at Sacombank includes 20 different card types, offering a diverse selection for customers.

Sacombank Surpasses 1 Million Credit Card Customers

Aligned with this trend, Sacombank, one of the most dynamic banks active in the card sector, especially in credit cards, has now surpassed the milestone of one million credit card customers, maintaining its position as a leader in the payment field.

This impressive achievement stems from a development strategy that includes extensive collaboration with both domestic and international card organizations; diversification of products and services; expansion of an exceptional ecosystem of benefits and promotions; and the adoption of new payment technologies, aiming to personalize user experiences. All these efforts are geared toward attracting and retaining customers.

As a payment tool, Sacombank has partnered with most organizations to issue cards, including NAPAS, VISA, Mastercard, UnionPay, JCB, and American Express. The bank continuously introduces new card lines with attractive benefits, setting new trends in consumer payments. Notable among these are Vietnam's first "Infinite Visa" black card; the first Mastercard combining credit and payment card functions on a single chip; and the most recent, the Sacombank Platinum American Express credit card, among others.

Sacombank's ecosystem of 20 credit card lines provides superior benefits for various spending groups, from travel and shopping to dining and installment payments, tailored to distinct customer segments from mainstream to premium.

Moreover, Sacombank has pioneered the issuance of virtual credit cards, providing numerous non-cash payment benefits with various utilities and experiences, helping users manage their finances effectively. Sacombank is also a frontrunner in connecting with all current mobile payment methods in Vietnam, such as Apple Pay, Google Pay, Samsung Pay, and Garmin Pay, catering to tech-savvy users. This is part of the bank's strategy to personalize the user experience.

Additionally, policies such as free card issuance, annual fee waivers, or large-scale promotional programs are continually launched by Sacombank to aim for an excellent payment experience while maximizing cost savings for all customers.

Sacombank Visa cards are linked with Garmin watches.

Furthermore, Sacombank has invested in its payment acceptance network since 2004, developing a POS system and now owning a network of over 200,000 POS machines nationwide. In 2008, Sacombank developed an online payment gateway and is now among the top banks in terms of online payment volume in Vietnam. With its extensive online and direct card payment acceptance network, Sacombank can serve card customers on multiple platforms, anytime, anywhere.

Enhancing understanding and value to card customers

“These results stem from an early and well-invested card segment strategy, combined with Sacombank's pioneering spirit of innovation and renewal. Each card delivered to customers is not just a spending experience but also a value, an emotional touchpoint that Sacombank strives to understand and accompany,” shared Ms. Nguyen Phuong Huyen, Deputy Director in charge of Retail Banking at Sacombank.

Sacombank has made significant progress on its journey to win over customers by shifting its business mindset and strategy from offering traditional banking financial products - selling what the Bank has - to providing the services that customers need.

This consumer-centric approach and the continuous enhancement of service quality, values, and customer experience set Sacombank apart and solidified its standing as a leading payment services provider in Vietnam.

In the future, the bank will continue to develop its card ecosystem with leading market partners, continuously expanding benefits, diversifying card features, comprehensively applying new technologies, and meeting all user needs.


Sacombank was recently honored by VISA in the most important categories, such as Leadership in Payment Volume, Leadership in Credit Payment Volume, Leadership in Acceptance Network Coverage... along with many other prestigious awards from card organizations like Mastercard, JCB, and NAPAS. This is the result of Sacombank's relentless efforts to pioneer in delivering increasingly high-quality experiences for card users.