VIB introduces PayFlex – An early adopter in the implementation of Visa Flex Credential technology in Vietnam

Vietnam International Bank (VIB) is introducing VIB PayFlex, an innovative financial feature developed on the Visa Flex Credential (VFC) technology. As an early adopter in Vietnam, VIB now enables its Visa cardholders to make flexible payments from two funding sources – credit and debit accounts – using a single credential, enabling smarter financial control and maximizing rewards.

“At VIB, we’re committed to applying advanced technologies to deliver superior financial solutions and elevate customer experience,” said Ms. Tuong Nguyen, Deputy CEO and Head of Cards at VIB. “VIB PayFlex is a strong testament to that commitment. We believe this feature will transform how customers manage daily spending, giving them maximum flexibility and financial control with just one card.”

Smart financial control, maximized benefits

VIB PayFlex empowers users with smart financial management. Cardholders can customize the funding source for each type of transaction, such as e-commerce, international spending, contactless payments, by transaction value, or even for the next specific transaction. This helps users optimize their financial strategies by assigning spending according to personal goals.

Seamlessly integrated into the MyVIB Digital Banking App, PayFlex allows users to switch funding sources with just a few taps. This blurs the line between debit and credit cards, transforming them into a single, unified smart spending tool. Users no longer need to remember which card to use—just one card configured through PayFlex does it all.

Unlike traditional "2-in-1" cards that relied on physical chip-based selection or preset defaults - a solution that VIB was also the first bank in Southeast Asia to introduce in Vietnam in 2021 - VIB PayFlex offers real-time control through the MyVIB app—bringing an unprecedented level of financial flexibility. For example, users can choose to use their debit account for daily expenses to manage budgets, and their credit account for larger purchases to take advantage of promotions, interest-free periods, or installment plans.

Advanced security, reduced risk

All PayFlex transactions are secured with cutting-edge technology from VIB and Visa, ensuring peace of mind for cardholders. There's no longer a need to manage multiple card details or fear data exposure on online platforms. With just one card and the MyVIB app, users can adjust their payment source anytime, anywhere.

PayFlex also reduces the risk of using the wrong card, especially at POS terminals, ensuring cardholders always receive the intended benefits and offers. Furthermore, VIB currently offers free credit cards to existing VIB Visa debit cardholders, based on their spending history. Users can instantly configure their physical card as a debit or credit card via MyVIB—no need to wait for physical issuance, change saved card details on apps or websites, or memorize another set of card information.

A market-leading vision

Ms. Dang Tuyet Dung, Country Manager for Visa Vietnam and Laos, remarked: “Visa’s VFC is a groundbreaking technology. VIB’s rapid rollout of PayFlex based on VFC demonstrates the bank’s vision and commitment to bringing cutting-edge payment innovations to Vietnamese users. We believe this partnership will accelerate cashless payments and greatly enhance the financial experience for customers.”

VIB is strategically positioning itself as a proactive innovator—not merely reacting to market pressures but leading with proven global solutions. This move reinforces VIB’s position as a trendsetter in Vietnam’s card industry.

Starting now, VIB will officially roll out PayFlex to all interested customers, with welcome gifts worth up to VND 200,000 for early adopters. Register for a VIB Visa debit or credit card now to enjoy superior offers here.