Home Finance

Fingerprint-enabled card launched in Vietnam

Aug 10th at 13:28
10-08-2012 13:28:35+07:00

Fingerprint-enabled card launched in Vietnam

Mekong Development Joint Stock Commercial Bank (MDB) on Tuesday launched its debit card using fingerprint recognition technology, marking the presence of the first biometrics-enabled debit card ever in the country.

The bank has implemented Temenos T24 Biometric fingerprint authentication to provide the unbanked population of Vietnam with access to banking services. MDB is already running the bank on T24, which is a simple modular upgrade to incorporate biometrics into the system seamlessly.

According to the bank, by integrating innovative technologies with MDB debit cards, performing any transactions is now more convenient and secure.

Biometric authentication lowers the risk of theft, while providing a more convenient banking service. Customer fingerprints will be captured by MDB at the time of opening an account, which can then be used at any of 33 ATMs fitted with this technology across Vietnam.

When doing transactions at ATMs of other banks in the Smartlink system, MDB Debit Card holders can use their own Pin codes instead of fingerprints.

MDB said that it will invest more in its ATM system in the near future, as well as use fingerprint recognition technology in other services

Saigon Times Daily

MOST READ

NEWS SAME CATEGORY

Finance confab opens next month in capital
FINANCE Aug 10th at 12:57

Finance confab opens next month in capital

The 2012 Viet Nam Finance Conference and Exhibition, with the theme Enhancing Fiscal Sustainability: Mid-term Spending and Modern Technology Solutions, will kick...

Time for banks to reshuffle the deck
FINANCE Aug 9th at 12:38

Time for banks to reshuffle the deck

Banks and firms can get out of the woods by rescheduling debts.

HDBank allowed to provide additional services
FINANCE Aug 9th at 12:36

HDBank allowed to provide additional services

The Governor of the State Bank of Vietnam (SBV) issued Decision No. 1544/QĐ-NHNN on August 7 to expand operational coverage of the license of the Housing...

Bank credit gets stuck, black credit prospers
FINANCE Aug 9th at 12:32

Bank credit gets stuck, black credit prospers

Since businesses cannot access official credit sources, they have to borrow money on the black market. It’s now the golden age for loan sharks to do business.

State budget expenditure surged in July
FINANCE Aug 9th at 12:26

State budget expenditure surged in July

Spending from the State budget in the first seven months of the year increased 15 per cent while its input decreased 2.8 per cent compared with the same period last...

Ministry wants to lift income-tax threshold
FINANCE Aug 9th at 12:24

Ministry wants to lift income-tax threshold

The Ministry of Finance has asked the Government to increase the personal income tax threshold to VND9 million (US$429), 2.25 times higher than the current level.

Tax reform to be sped up to encourage development
FINANCE Aug 9th at 12:15

Tax reform to be sped up to encourage development

The Ministry of Finance will speed up efforts to reform policies for corporate income tax (CIT) and value-added tax (VAT), deputy minister Vu Thi Mai said at a...

City banks see profits shrinking
FINANCE Aug 8th at 12:33

City banks see profits shrinking

Banks in HCMC posted up a combined pre-tax profit of just VND5.7 trillion in the January-July period, or 33% of last year’s total, according to the HCMC branch of...

Average interest rate on outstanding loans declines
FINANCE Aug 8th at 12:25

Average interest rate on outstanding loans declines

Existing loans in dong, which are subject to interest rates of over 15 per cent per year, now account for about 29 per cent of the country's total outstanding...

SeABank wins enterprise prize
FINANCE Aug 8th at 12:15

SeABank wins enterprise prize

Southeast Asia Joint Stock Commercial Bank (SeABank) was awarded the ASEAN Typical Enterprise 2012.

Read More

Bank stocks

Insurance stocks

MOST READ

Back To Top