Vietnam Airlines, bank issue credit card
Vietcombank and Vietnam Airlines have cooperated with American Express to issue an international credit card, officials said Wednesday. The Golden Lotus card, which was launched Tuesday, is the first credit card in Vietnam where most customers are not required to have collateral with a bank, said Phan Duc Nam, spokesman for Vietcombank, Vietnam's leading commercial bank. "With this card, we target business people and frequent fliers with Vietnam Airlines," he said.
Nam said apart from benefits of American Express card holders, the customers will also enjoy other benefits from the national carrier, such as frequent flier programs.
In 2003, Vietcombank signed a contract for the rights to distribute American Express cards in Vietnam. The bank also has contracts to distribute Visa, Mastercard and Diners Club cards in Vietnam. Credit cards are still not widely used in Vietnam, where most transactions are in cash.
The Associated Press - April 13, 2005.
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