FE CREDIT, Focussed on First Time Card Users in Vietnam, Crosses the One Million Cards Milestone

VPBank Finance Company Ltd. (FE CREDIT), one of the largest consumer finance companies in Vietnam, was recently recognized by Mastercard as the "Best in Card Acquisition" in the country.

FE Credit has issued more than 1 million cards in Vietnam's underpenetrated market by creating unique propositions to attract and engage category entrants. FE Credit pioneered the Plus+ Card, created digital MPlus+ card, launched Samsung Pay as the first consumer finance company and provided customers with a feature-rich mobile app which allows bill payments, booking movie tickets and much more. FE Credit has also launched Oi Plus+, a flagship loyalty program that rewards cardholders on their everyday spend, and on top of that, it provides a market-first 10X multiplier.

Mr Kalidas Ghose, Vice Chairman and CEO, FE CREDIT said, "Credit Cards continue to be the primary growth engine for FE Credit. Our focus is to convert more and more first-time users from cash to card by imparting convenience in their daily life."

Mr Nimish Dwivedi, Credit Card Business Center Director, FE CREDIT said, "We are focused on leveraging technology not only to enable cashless journeys but also to make them rewarding for category entrants. From our core product Plus+ card to our fully-functional mobile app, everything is geared towards making life easier and more convenient for our valued customers."

Ms Winnie Wong, Country Manager Vietnam, Mastercard said, "FE Credit has been pivotal in accelerating the movement from cash to credit in Vietnam. Thanks to its reliable products and high-impact marketing campaigns, FE Credit has successfully issued the highest number of new cards in 2018. Mastercard looks forward to a long-term collaboration with FE Credit to drive Vietnam's cashless agenda."