Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) has obtained the Verified by Visa certification in a bid to mitigate card-not-present fraud.

VietinBank currently uses Compass Plus’ TranzWare e-Commerce for authenticity checks during online transactions.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

VietinBank card transactions obtained

The solution is part of the Verified by Visa, Mastercard SecureCode and American Express SafeKey programmes. It requires cardholders to verify their identity to their bank at online purchase.

Verified by Visa certification provides additional security for VietinBank customers who use their debit and credit cards.

The bank intends to further work with Compass Plus to obtain Mastercard SecureCode and JCB J/Secure certifications. This will in turn offer multiple online security programmes for its cardholders.

Earlier this month, Compass Plus also collaborated with National Payment Cards System (NSPK) to help United Settlement System (USS) achieve EMV 3D Secure 2.1.0 certification for UnionPay cards.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

This certification will protect from fraudulent transactions and enable secure e-commerce operations to UnionPay cardholders.

In addition, the electronic payments software provider completed the migration of Unibank personalisation centre from several third-party solutions to an in-house card personalisation centre.

The in-house product is based on TranzWare products from Compass Plus.

The migration will allow Unibank to offer centralised card issuance. When a new card is activated it will also offer an option to deliver PIN codes to customers via SMS.