Shinhan Bank to issue Samsung Pay Cards

Shinhan Bank Vietnam has officially announced a partnership with Samsung to introduce the pioneering Samsung Pay Card in Vietnam.

Samsung Pay Card is a non-physical prepayment card and will be issued by Shinhan Bank through the Samsung Pay application with preeminent features applied to both nominated and non-nominated card types. Non-nominated cards are cards issued with non-verified information provided by customers, while nominated cards are cards issued for customers who have verified their information with the bank.

Non-nominated Samsung Pay Card holders can top-up their card from other banks to a maximum of VND5 million ($215) any time and use the card to make payments for transactions via Samsung Pay at POS terminals within the permitted payment limit.

Nominated Samsung Pay Card holders can top-up their card at other banks, withdraw cash at Shinhan Bank’s ATMs supporting the Samsung Pay feature or at the nearest Shinhan Bank branch, transfer money from their cards to the mobile phone account / card / account of recipients, and use the cards to make payments for transactions via Samsung Pay at POS within the permitted payment limit.

“The introduction of the pioneering Samsung Pay Card in Vietnam once again proves the successful partnership between Shinhan Bank and Samsung, following the launch of the Samsung Pay and Samsung Bio Pass applications in 2017,” said Mr. Shin Dong Min, CEO of Shinhan Bank in Vietnam.

The finance industry, especially the banking sector, is witnessing a transformation from the use of physical to non-physical cards and the use of technology to support most forms of payment, to bring greater convenience and security to users. “Shinhan Bank always strives to introduce products and services applying prominent technology to better serve our customers,” Mr. Min added.

“We believe that the addition of new features in Samsung Pay will improve the online payment experience for customers and provide them with unprecedented utilities made available by Samsung devices and services,” said Mr. Nguyen Quang Hien Huy, Deputy General Director and Head of the IM Business at Samsung Electronics Co. “This is also our commitment in devoting our effort to developing and innovating Samsung Pay, to bring more convenience to Samsung mobile device users.”

Together with the signing of strategic partnerships with leading technology partners in Vietnam since early this year, the launch of Samsung Pay Card confirms Shinhan Bank’s strategy of developing technology as its key strength as well as its commitment to sustainable development.

Samsung Pay is installed and available on most Samsung smartphones, including Galaxy S6edge+, Galaxy S7, Galaxy S7edge, Galaxy S8, Galaxy S8+, Galaxy Note 5, Galaxy Note FE, Galaxy Note8, Galaxy S9 and S9+, Galaxy Note 9, and some Galaxy A versions, including Galaxy A9 Pro, Galaxy A5 and A7 (2016), Galaxy A3, A5, A7 (2017), and Galaxy A8 and A8+ (2018). It is also compatible with the Samsung Gear S3 smart watch.