Vietnam Bank for Industry and Trade Ltd. will work with Saigon Fuel Joint Stock Co. to provide prepaid fuel payment card services, a spokesperson for the bank tells PaymentsSource.
The bank, commonly known as VietinBank, signed the agreement with the fuel retailer on April 20, and the companies plan to begin putting the service into operation by June, he adds. Under the service, the bank’s customers will be able to use the “E-Fast” prepaid card at Saigon Fuel stations across the country.
VietinBank’s branches or Saigon Fuel petrol stations will provide the proprietary, reloadable payment card, and customers do not need to open an account with the bank. Cardholders may reload their card accounts at a VietinBank branch or through payment partners.
“As the service is developed, more recharging options will be added, including those which utilize the online and mobile-phone channels,” the spokesperson adds.
To facilitate payments, VietinBank also will install payment readers at the all Saigon Fuel petrol stations in the country and educate station owners in their use and maintenance.
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