To connect VBARD’S ATM/POS systems to Banknetvn Switching Network

During the meetings between Vietnam bank for Agriculture and Rural development (VBARD) and Banknetvn held in May 2007, the two Parties discussed and reached to an agreement on option and roadmap to connect VBARD’s card system to Banknetvn Switching Network. Based on this agreement, all local debit cards (Success) issued by VBARD shall be accepted at all ATM and Point of Sales born Banknetvn logo.

The connection between VBARD’s card system to Banknetvn Switching network not only brings convenience to VBARD’s cardholders but also gives facilities to cardholders of other banks connected to Banknetvn. For sure, all cardholders of banks connected to Banknetvn would be provided with a comfortable feeling of a new saving and more effective payment method when a system of more than 600 ATMs born VBARD logo in all parts of the countries linked to Banknetvn.

Apart from ATM system, VBARD’s POS system is also about to connected to Banknetvn. These POS are located at hotels, restaurants and commercial centers to served customers conducted payment via bankcard. Besides the significance of bringing convenience to other banks’ cardholders, the connection between VBARD and Banknetvn helps reduce the investment of Banknetvn member banks in particular and of the whole society in general in the payment system infrastructure.

With the utmost endeavor and prompt project implementation of VBARD and Banknetvn, it is hoped that cardholders of VBARD as well as of other banks participated in Banknetvn Switching Network, after a short time, can enjoy the benefits of making payment via the shared network. The contribution of VBARD card system to Banknetvn network enables the fulfillment of cashless policy mandated by the State and help avoid many overlapping investment.

26/06/2007.
Hoag Anh Dung.