Mastercard, VPBank and Điện Máy Xanh launch the VPBank MWG Mastercard credit card

Mastercard, VPBank and Điện Máy Xanh launch the VPBank MWG Mastercard credit card

The launch of the VPBank MWG Mastercard credit card underscores the shared commitment to advancing secure, relevant and everyday digital payment experiences in Việt Nam.

Delegates launch the first credit card linked to Điện Máy Xanh, Việt Nam’s largest multi-category electronics and consumer retail ecosystem. — Photo courtesy of Mastercard

A new credit card, launched by Mastercard in partnership with Vietnam Prosperity Joint Stock Commercial Bank (VPBank) and Dien May Xanh Investment Joint Stock Company, aims to tap into Việt Nam’s fast-growing retail market while encouraging wider use of digital payments.

The companies announced the launch of the VPBank MWG Mastercard credit card, described as the first credit card linked to the country’s largest multi-category electronics and consumer retail ecosystem.

The collaboration is intended to deliver everyday value to consumers while enhancing their digital lifestyles and supporting Việt Nam’s transition towards a more cashless, digitally enabled economy.

Anchored within Điện Máy Xanh’s network of more than 3,000 outlets and online channels nationwide, the VPBank MWG Mastercard credit card is designed to fit both frequent purchases such as groceries and pharmacy items and higher-value electronics spending.

The card offers up to 10 per cent cashback across Điện Máy Xanh brands, 4 per cent cashback on fashion and dining, and 0.1 per cent on other eligible spending. Additional benefits include first-year fee waivers under certain conditions, a VNĐ400,000 welcome cashback, and 100,000 Quà Tặng VIP points.

Built on Mastercard’s globally accepted payments network, the card supports both domestic and international transactions while meeting international standards for security and risk management.

Consumers can complete digital onboarding through VPBank and Điện Máy Xanh’s Quà Tặng VIP mobile app. The launch builds on an existing VPBank–Điện Máy Xanh payments partnership that has enabled about 3,000 retail locations to operate as financial service touchpoints.

This omnichannel distribution model is expected to broaden access to consumer credit through retail channels and extend financial services beyond traditional banking hours.

The launch of the VPBank MWG Mastercard credit card highlights the partners’ shared focus on expanding secure and practical digital payment solutions in Việt Nam.

The card is now available nationwide, giving millions of Vietnamese consumers access to rewards at familiar retail outlets, digital access to credit and the global acceptance and security standards of Mastercard.

By integrating digital payments into everyday retail activity, the partners say the initiative could help accelerate the adoption of cashless payments, strengthen confidence in digital financial services, and support the development of a more inclusive digital economy in Việt Nam.

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