Vietnam National Financial Switching Joint – Stock
Company was established on 9th July 2004 consisting
of 08 shareholders in which seven are the Vietnam’s leading
banks and the rest is Vietnam Data Communication Company.
Founding shareholders are:
1. Vietnam Bank for Agriculture and Rural Development (VBARD)
2. Bank for Investment and Development of Vietnam (BIDV)
3. Industrial and Commercial bank of Vietnam (ICB)
4. Sai Gon Thuong Tin Bank (Sacombak)
5. Asia Commercial Joint-Stock Bank (ACB)
6. Eastern Asia Commercial Joint – Stock Bank (EAB)
7. Saigon Commercial Joint – Stock Bank (Saigon bank)
8. Vietnam Data Communication Company (VDC)
The early contributed capital of the founding shareholders
are 94.5 (ninety four billion and five hundred million) Vietnam
Dong.
Banknetvn was granted License No. 06/NHNN-GP dated 9th July
2004 by the State Bank of Vietnam to operate in the area of
providing bankcard issuing and acquiring-related payment services,
payment card and other relevant activities.
Banknetvn was licensed the Certificate of Business Registration
No 0103004894 dated 14th July 2004 by Hanoi Planning and Investment
Department.
Banknetvn was founded with the major objectives of setting
up a national financial switching system interconnecting all
payment card systems in general and all ATM/POS systems in
particular of Vietnam’s banks. The connection enables Banknetvn’s
member banks to enlarge their delivery channels with reasonable
investment, avoiding bank’s duplication investment in the
technical infrastructure and terminals in the national scale.
Banknetvn is a joint-stock company, incorporated in accordance
with Vietnam’s Corporate Law. Structurally, Banknetvn is consisted
of General Board of Shareholders, Board of Directors, Board
of Controller, and Board of Management. The Company comprises
of six dedicated departments.
Based on an advanced and sophisticated payment technology
and typical services belonging to the inter-bank payment card
transaction switching, Banknetvn’s business activities focus
on the development and launching of card-based services of
banks in Vietnam enabling cardholders to initiate a transaction
at any time, any where in Vietnam and in the world.
For banks, the services provided by Banknetvn Switching
System bring a fair competition environment for the development
of card-based services. The switching services of Banknetvn
do not cause the conflict of interest and the marketshare
of providing services among Banknetvn participating banks.
For cardholders, the interconnection of ATM/POS systems of
participating banks done by Banknetvn bring convenience, enabling
cardholders to initiate a transactions at any and all terminals
belonging Banknetvn’s system.
To ensure the successful of the connection between Banknetvn
Switching system and the system of banks, card schemes and
other institutions, Banknetvn always look forward and remain
the cooperation, experience sharing with member banks, cooperate
with local and international card associations on fair spirit
and for mutual development and benefits.
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