Business in Brief

Incombank Offers JCB Card Payment Services

The Industrial and Commercial Bank of Viet Nam (Incombank) has become the second Vietnamese bank to offer JCB card payment services, after the Bank for Foreign Trade of Viet Nam (Vietcombank).

A deal was inked by Incombank and the JCB International Company on December 11, which enables Incombank to develop a network of points of sales (POS) nationwide.

Holders of JCB cards, including EMV cards, as from June 2008, will be able to withdraw cash from 750 ATMs and pay bills at 1,600 POS run by Incombank.

JCB has now offered services for 55 million card holders worldwide, with its network covering 13 million POS in 190 countries and territories, including Viet Nam.

First Asian Life Insurer Set up in Viet Nam

Cathay Vietnam Life Insurance Company has become the first Asian firm to establish a life insurance business in Viet Nam .

According to Eric Wu, Business Director of Cathay Vietnam , the US$60-million company will provide comprehensive insurance services in an effort to become Asia ’s strongest financial group.

At the first step, the company will target southern provinces, including Dong Nai and Binh Duong and Ho Chi Minh City.

SanDisk Broadens Memory Card Business in Viet Nam

SanDisk corporation, specializing in designing and marketing flash memory card products, has named Viet Nam’s FPT corporation and Ingram Micro as its authorized distributors in the Vietnamese market.

SanDisk’s move is aimed at expanding its retail flash memory card business in Viet Nam, where the demand for high-end technology products is growing fast.

FPT, a leading Vietnamese distributor of IT and mobile phone products, and Ingram Micro, the world’s largest wholesale distributor of technology products, will distribute SanDisk products, including the 8GB MicroSDHC and M2 card, Extreme Ducati and Cruzer Contour flash memory cards, and imaging software –Skype, CruzerSync and HP photosmart, in Viet Nam .

Gavin Wu, Managing Director of SanDisk Corporation Asia Pacific said the current economic growth rate and the available infrastructure base make Viet Nam an ideal market for SanDisk products.

A campaign to market SanDisk products in Viet Nam will be launched late this month, the SanDisk official said.

Source: VNA

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