The Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank), one of Vietnam's top commercial banks, has joined forces with JCB International Co. Ltd. (JCB), the international operations subsidiary of JCB Co., Ltd., to launch the HDBank JCB Ultimate Credit Card in Vietnam. Through this cooperation, HDBank will become JCB's 17th partner financial institution and will accept all JCB cards issued both within and outside of Vietnam.
The HDBank JCB Ultimate Credit Card offers various cashback programs centred around cardmember spending volume. For instance, the cashback scheme includes up to 20% on spending incurred in Japan, 6% in every country except Japan and Vietnam, and 4% at Point of Sale terminals within Vietnam. Notably, cardmembers will enjoy 15% on travel services, including making reservations for hotels and resorts.
The HDBank JCB Ultimate card members are also privy to several premium privileges. These include discounts on golfing if a minimum spending requirement is met, travel insurance packages that cover flight cancellations, delays and lost baggage, and an instalment program applicable to all transactions in retail outlets. Furthermore, cardmembers can avail multiple other exclusive promotions.
Alongside the launch of the HDBank JCB Ultimate Credit Card, HDBank has also become JCB's official acquiring bank, establishing an important stepping-stone in the bilateral cooperation between these two institutions. Hence, the HDBank JCB Ultimate cardholders will gain entrance to JCB's acceptance network, which comprises around 43 million merchants globally.
This collaboration will expand the acceptance of JCB Cards across a wide range of Vietnamese merchants. It will ensure a mutually beneficial impact for JCB cardholders based within the region, as well as those visiting from overseas. Mall visitors from abroad can, therefore, enjoy more streamlined services during their stay in the country.
HDBank has, over the course of just 33 years, managed to position itself amongst the leading banks in Vietnam with significant international expansion. The bank's strong financial backing and advanced technology infrastructures make it capable of providing a diverse array of financial and banking services to individuals, businesses, and investors. HDBank has consistently featured among Vietnam's top commercial banks with the largest total assets.
JCB, on the other hand, is a prominent global payment brand as well as a key credit card issuer and acquirer in Japan. JCB began its card business in Japan in 1961, and a mere 20 years later, began its worldwide expansion in 1981. Today, with a vast and rapidly growing acceptance network of about 43 million merchants across the world, it is particularly focussed on Asian countries and territories. It has more than 154 million cardmembers and is always seeking to increase its merchant coverage and cardmember base through strategic alliances with top banks and financial institutions worldwide.