Banks launch huge combos for consumers

It is somewhat strange for a commercial bank to launch combos for its clients, but it is common in the service sector. Customers can enjoy more convenient, modern services and preferential policies offered by the combos they choose than what they benefit from a single product.


Fast economic growth has made it possible for consumers to increase spending and shopping while the rise of online shopping and e-commerce has paved the way for non-cash payments to flourish, which has in turn driven the demand for banking services.

Given this market change, more and more commercial banks are investing in retail banking services, thus rolling out a lot of convenient products and services like credit cards, debit cards, internet banking, mobile banking, SMS banking, preferential loan packages.

However, trying to satisfy the different needs of different individual customers is not beneficial for both customers and banks. Banks may shoulder higher operating costs while their customers may use different services at different banks, hence time- and money-consuming processes and a sense of little or no security among customers.

To address this matter, some commercial banks, particularly Vietnam Prosperity Joint Stock Commercial Bank (VPBank), have proactively classified individual customers into groups and then offered proper combos of services and products.

A representative of VPBank said that when understanding customers’ demand for banking services, VPBank will quickly pioneer the launch of combos for each group of customers in lieu of providing separate services, which can hardly meet the needs of customers in modern life.

Since the end of 2018, VPBank has steadily rolled out various combos such as Superior Kids, Delux Savings and Beauty Up, targeting a variety of groups of customers from investors, families with kids and consumers in need of makeup.

Although such combos are new in the banking sector, they are popular in the services sector. For instance, when watching movies, customers can choose a range of combos comprising tickets, popcorn and drinks at different prices.

The launch of combos at VPBank is aimed at maximizing the efficiency of the bank’s services.

VPBank has just introduced a new combo called VPPower, which promotes the spirit “Get Healthy - Get Wealthy.”

When using the VPPower combo, customers will be supported with three products: bank account, credit card and VPBank Online, or bank account, debit card and VPBank Online. If the credit card holder wants to register for VPPower, VPBank will support them to open a bank account and use the VPBank Online service.

The bank is holding high hopes that VPPower will allow customers to experience banking services, make credit or debit card transactions easily and conveniently, or transact with the bank through their accounts or VPBank Online anytime and anywhere.

Specifically, the bank’s customers can benefit from a very preferential policy when using VPPower. In particular, they can get cash back at 0.2% to 2.4% of the value of their spending. Apart from this, the bank account and VPBank Online service of the combo will offer customers a series of free services including withdrawing cash at ATMs, using SMS banking, transferring money and topping up their phones.

Online seller Hoang Anh, a resident in Cau Giay District, Hanoi City, said that she has been using VPBank’s credit card for a long time to place orders for goods from foreign countries and do shopping daily. Each month, Anh is paid back up to VND500,000 by the bank.

Since Anh adopted the VPPower combo, she has enjoyed the cashback offer and free-of-charge services such as cash withdrawals and transfers.

“VPPower encourages customers to pay for goods and services by card, which will contribute to reducing the use of the cash-on-delivery payment method in line with the policy of the Government and the State Bank of Vietnam,” the representative of VPBank said.




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