Visa signs MoU with Vietnam Airlines
Two to work together on enhancing consumers’ digital experience.
Visa and Vietnam Airlines signed an MoU on June 23 regarding plans to improve the customer experience throughout the user journey while also enhancing the national flag carrier’s digital capabilities.
This is in line with Visa’s commitment to empowering digital payments in the country, reinforced by a visit to Vietnam by Mr. Oliver Jenkyn, Visa Group President, Global Markets.
The cooperation comes at a time when Vietnamese people are re-discovering travel following Covid-19.
According to the 2022 Visa Consumer Payment Attitudes Study, over half of Vietnamese people have taken a trip since 2021, with Japan, Australia, and South Korea among the preferred overseas destinations. A majority, meanwhile, plan to travel in the next year, indicating strong demand for convenient flight options. Notably, 48 per cent of Vietnamese respondents expect overseas travel to go fully cashless moving forward, highlighting a desire to pay for travel through digital methods.
The Visa Green Shoots Radar research from September 2022 shows positivity among Vietnamese regarding the current and future health of Vietnam’s economy. This will inspire confidence in companies focused on attracting new customers.
For example, 68 per cent of Vietnamese believe the economy is better compared to during the pandemic, while 84 per cent believe it will be better in a year. Both of these figures are the highest of surveyed nationalities. Another 23 per cent of Vietnamese respondents believe their travel plans will be unaffected by rising prices in the sector.
“Visa is committed to advancing cashless payments in Vietnam, and our partnership with Vietnam Airlines is an important step towards this goal,” said Ms. Dung Dang, Visa Country Manager of Vietnam and Laos. “We are particularly excited to launch our unique co-branded product with Vietnam Airlines and enhance digital capabilities in the near future. By working together, we will ensure that passengers can enjoy a convenient and secure digital experience throughout their journey.”
The cooperation aligns with the long-term commitment of both to enhance the consumer experience, especially in transforming digital payments.
Visa’s goal is to facilitate the growth of communities, businesses, and economies around the globe by creating the most advanced, user-friendly, trustworthy, and secure payments network possible, contributing to creating a cashless society.
As part of its five-year digital transformation strategy to 2026, Vietnam Airlines aims to become Vietnam’s first digital airline by 2025 while focusing on three key factors: digital technology, digital data, and digital culture. With its focus on improving the customer experience and developing digital products and services, the national flag carrier is striving to be a digital transformation leader in ASEAN’s aviation industry.
“As we progressively reinstate and establish new routes that link Vietnam with the rest of the world, we eagerly anticipate cooperating with Visa, the word leader in digital payments, to guarantee a convenient and secure digital payment experience for all our passengers,” said Mr. Nguyen Sy Thanh, Director of Vietnam Airlines’ Lotusmiles. “This partnership with Visa signifies a significant milestone for Vietnam.”
Visa is facilitating transactions between consumers, merchants, financial institutions, and government entities across more than 200 countries and territories.
Vietnam Airlines is currently operating flights on more than 98 routes to 22 domestic destinations and 28 international destinations, connecting major cities in the world with attractive destinations in Vietnam.
