Digital bank Cake, ride-hailing platform Be and Visa announced their first co-branded credit card product called the Be-Cake Visa credit card, offering many exclusive benefits without annual fees and the highest cash-back rate in the market at 20%.
Representatives of Cake, Be and Visa sign a co-operation agreement, launching the Be-Cake Visa card. (Photo: Courtesy Visa Vietnam)
HCM City (VNS/VNA) - Digital bankCake, ride-hailing platform Be and Visa announced their first co-brandedcredit card product called the Be-Cake Visa credit card, offeringmany exclusive benefits without annual fees and the highestcash-back rate in the market at 20%.
With the technological platform ofCake, Be-Cake Visa credit card applications areapproved instantly. This enables clients to beginshopping online even before receiving the physical card.
Notably, cardholders will get a 20% refund, the highest on the market, forpayments on the Be app and refunds for spending at other merchants.
In addition, cardholders can convert transactionsinto installments and even set up an automatic payment schedulethrough their Cake account.
“The new Be-Cake Visa credit card was designed for the modernVietnamese. It was made primarily for Gen Z and young professionalswho we know are striving to get the most value for money,” said Dung Dang,Visa country manager of Vietnam and Laos. “We are proud to launch themarket’s very first collaborative card that offers consumers the best of threeworlds: the speed and security of Visa digital payments, the versatility ofCake digital banking and Vietnam’s top multi-serviceecosystem managed by Be Group.”
Cake empowers clients to manage their daily expenses throughfree-of-charge digital banking, while offeringthem extensive personalisation and attracting morethan two million users.
“With the Be-Cake credit card, Cake becomes the first digital bank in Vietnam which provides acomprehensive selection of necessary financial services,including payment, saving, lending, micro-investment and creditcards,” said Quang Nguyen, CEO of Cake by VPBank.
The launch of the Be-Cake co-branded credit card also shows the strength of BeGroup’s open technology ecosystem. Nearly four years of operation, Behas expanded beyond ride-hailing to create anon-demand multi-service consumer platform offering transportation,delivery, shopping, travel, and telecom services.
By partnering with Visa, Be is proving its ability to scale its business modelquickly to compete effectively and better serve users in Vietnam.
Visa’s latest Consumer Payment Attitudes study highlighted growingmomentum for digital payments among Vietnamese consumers. More than eight in 10consumers now use cards and more than four in 10 foresee going fullycashless when paying for taxis and ride-sharing, retail shopping and foodand dining./.
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Representatives of Cake, Be and Visa sign a co-operation agreement, launching the Be-Cake Visa card. (Photo: Courtesy Visa Vietnam) 
