Techcombank and Compass Plus celebrate 15 year milestone in banking partnership

Since issuing the first Visa card 15 years ago using solutions provided by trusted partner Compass Plus, Techcombank, one of the top commercial joint stock banks in Vietnam, has become the country’s market leader for Visa payments volume and has received numerous prestigious awards from the international payment network.

Techcombank was Compass Plus’ first customer in Vietnam, and following the initial project in 2005 to issue Visa cards in the country, the partnership has continued to go from strength to strength. The bank has used Compass Plus solutions to expand its card business and banking portfolio, and has also built an in-house processing centre using its partners software.

Originally brought in to help grow its business and develop its offering for individuals and small to medium businesses, Techcombank selected Compass Plus as the partner that had the expertise to support both its technical and business requirements.

“We are proud to mark this milestone in our partnership with Compass Plus,” said PhD Hoan Dang Cong, EVP, Deputy Head of Retail Banking at Techcombank. “Over the last 15 years, we have appreciated the efforts from the strong and well-established relationship we have with our trusted partner, as well as stable card business performance and flexibility to enable business growth.”

“Techcombank is one of the most technologically advanced banks in the country, and we are proud to be able to say that not only are they our customer, but that we have such a positive and long-standing relationship with them,” said Igor Simonov, AVP, Business Development and Sales Manager at Compass Plus. “As the Vietnamese banking sector responds to demands for more advanced payment methods than ever in a move away from cash, we will be ready to deliver and to provide the ongoing support needed to spur further growth for banks, such as Techcombank.”