Local bank-card companies are promoting the connection of theirautomatic teller machines (ATM) and point of sale (POS) systemsnationwide to create convenience for customers and contribute to thedevelopment of non-cash payment tools in Vietnam.
Ly Thi Ngoc, deputy general manager of Vietnam Bank Card Joint-StockCo (VNBC), said in May the number of Smartlink cardholders withdrawingmoney at the ATMs of Dong A Bank soared to 80,000.
The company has connected with three banks belonging to the VietnamNational Financial Switching Joint-Stock Co (Banknetvn).
The number of Banknetvn cardholders withdrawing money from ATMsclimbed to 40,000 last month.
According to Ngoc, theamount of money Dong A Bank has put into its ATMs has increasedgradually every month.
Previously, the bank putaround 3 trillion VND (157 million USD) a month, but since connectingwith the ATM and POS networks, it deposited 3 percent more in April, and5 percent more in May.
The latest co-operationbetween the VNBC, which has nine bank members, and Banknetvn, with 15bank members, was the first step to connect the ATM network of Dong ABank with Agribank, VietinBank and the BIDV.
TheVNBC has also connected its ATMs with two banks, Vietcombank andTechcombank, via the Smartlink Card Service Joint-Stock Co, which has atotal of 29 bank members. Cardholders of any bank belonging to thesebank-card companies can make transactions at ATM machines of the memberbanks, and use ATMs at the bank-card companies.
Although not all bank-card company members have been connected tomembers of similar companies, Dong Aù Bank's deputy director, Le TriThong, said the biggest technical obstacles had been solved.
As a result, after connecting with ATMs, the bank-cardcompanies will create an agreement to connect POS machines.
Currently, cardholders can use only the POS machines of theirbank-card company. They will have to wait until the third quarter ofthis year to use the machines of the other two bank-card companies,according to Thong.
"Cardholders of Dong A Bankcannot pay at the supermarket because POS machines of Vietcombank can'tread Dong A Bank's cards. The POS of each bank-card company is still anoasis," Thong said.
According to Ngo Ngoc Dong,general manager of Banknetvn, each bank-card company has its owncriteria to connect its members. If two bank-card companies connect witheach other that does not mean that their members can connectautomatically.
Thong said the VNBC was expected toconnect with every member of Smartlink and with at least 60–70 percentof Banknetvn's members by the end of the year
Cardholders now can make only four basic transactions: checking accountbalances, withdrawing cash, printing transaction histories, andtransferring money between accounts of the bank.
Some banks, including Dong A, are testing money transfer betweenaccounts of different banks.
Currently, the specialservices of each bank, including paying bills, pre-paying cell phonecredit and depositing currency, can be done only at ATM machines of thebank that issued the card.
If people bring theirDong A Bank card to make a transaction at Agribank's ATM, the card willbe swallowed by the machine.
Such problems are notrare because each bank uses different technologies and ATMs of differentgenerations, according to Thong.
The bank-cardcompanies are gradually solving the technical problems related tocreating a standard system for their bank members, and are waiting forsome banks to change their core banking.
Currently,if ATM cardholders cannot withdraw money, receive counterfeit money, orhave their cards taken by the machines, the cardholder must contact thebank that issued the card.
"These problems will besolved within three working days," Thong said./.
Ly Thi Ngoc, deputy general manager of Vietnam Bank Card Joint-StockCo (VNBC), said in May the number of Smartlink cardholders withdrawingmoney at the ATMs of Dong A Bank soared to 80,000.
The company has connected with three banks belonging to the VietnamNational Financial Switching Joint-Stock Co (Banknetvn).
The number of Banknetvn cardholders withdrawing money from ATMsclimbed to 40,000 last month.
According to Ngoc, theamount of money Dong A Bank has put into its ATMs has increasedgradually every month.
Previously, the bank putaround 3 trillion VND (157 million USD) a month, but since connectingwith the ATM and POS networks, it deposited 3 percent more in April, and5 percent more in May.
The latest co-operationbetween the VNBC, which has nine bank members, and Banknetvn, with 15bank members, was the first step to connect the ATM network of Dong ABank with Agribank, VietinBank and the BIDV.
TheVNBC has also connected its ATMs with two banks, Vietcombank andTechcombank, via the Smartlink Card Service Joint-Stock Co, which has atotal of 29 bank members. Cardholders of any bank belonging to thesebank-card companies can make transactions at ATM machines of the memberbanks, and use ATMs at the bank-card companies.
Although not all bank-card company members have been connected tomembers of similar companies, Dong Aù Bank's deputy director, Le TriThong, said the biggest technical obstacles had been solved.
As a result, after connecting with ATMs, the bank-cardcompanies will create an agreement to connect POS machines.
Currently, cardholders can use only the POS machines of theirbank-card company. They will have to wait until the third quarter ofthis year to use the machines of the other two bank-card companies,according to Thong.
"Cardholders of Dong A Bankcannot pay at the supermarket because POS machines of Vietcombank can'tread Dong A Bank's cards. The POS of each bank-card company is still anoasis," Thong said.
According to Ngo Ngoc Dong,general manager of Banknetvn, each bank-card company has its owncriteria to connect its members. If two bank-card companies connect witheach other that does not mean that their members can connectautomatically.
Thong said the VNBC was expected toconnect with every member of Smartlink and with at least 60–70 percentof Banknetvn's members by the end of the year
Cardholders now can make only four basic transactions: checking accountbalances, withdrawing cash, printing transaction histories, andtransferring money between accounts of the bank.
Some banks, including Dong A, are testing money transfer betweenaccounts of different banks.
Currently, the specialservices of each bank, including paying bills, pre-paying cell phonecredit and depositing currency, can be done only at ATM machines of thebank that issued the card.
If people bring theirDong A Bank card to make a transaction at Agribank's ATM, the card willbe swallowed by the machine.
Such problems are notrare because each bank uses different technologies and ATMs of differentgenerations, according to Thong.
The bank-cardcompanies are gradually solving the technical problems related tocreating a standard system for their bank members, and are waiting forsome banks to change their core banking.
Currently,if ATM cardholders cannot withdraw money, receive counterfeit money, orhave their cards taken by the machines, the cardholder must contact thebank that issued the card.
"These problems will besolved within three working days," Thong said./.
