HD Bank to launch MatchMove-backed virtual payment card in Vietnam

HD Bank, a Vietnam-based commercial bank, will launch the first virtual payment card in Vietnam with MasterCard in early 2015. In a move to increase its market share, HDBank has selected the secure cloud-based MatchMove Wallet, a mobile wallet and payment card platform-as-a-service (PaaS) to extend its reach to customers in the unbanked and uncarded segments.

With e-commerce sales in Vietnam expected to double in volume to US$4 billion in 2015, HDBank and MatchMove Pay see this as a strategic opportunity the mobile wallet with a MasterCard virtual card embedded at launch, to millions of current and future customers who want to shop with smartphones using a safe and convenient online payment method.

Nguyen Huu Dang, CEO of HDBank said, “With Internet penetration growing exponentially in Vietnam, access to the Internet is no longer the obstacle to online shopping. With the ground-breaking, innovative technology of safe and secure payment card service, MatchMove Wallet is the perfect solution."

“Our vision has always been to make e-commerce accessible and safe to all by providing mobile payments services to the millions of unbanked and uncarded in growing economies. We are delighted that HDBank shares the same vision,” said Shailesh Naik, Founder and CEO of MatchMove Pay.

The MatchMove Wallet is a customisable PaaS that enables any major consumer brand to issue safe and secure mobile payments services that can help increase revenue, loyalty and customer engagement. The safety and security of the MatchMove Wallet lies in its dynamic, one-time security Ccode feature. The e-wallet contains pre-paid cards that work just like credit cards for online transactions.