Mizuho Bank, Aeon Vietnam tie up for one-stop payment services
HANOI -- Mizuho Bank will establish a partnership with Aeon Vietnam, a subsidiary of Japanese supermarket operator Aeon, to provide comprehensive cash management and payment transaction services for the retailer.
The partnership will be the first attempt to offer such services in Vietnam, where management of sales data has lagged, and it is expected to help modernize the country's retail sector.
Mizuho Bank and its existing Vietnamese business partner, Vietcombank, will form a comprehensive alliance with Aeon Vietnam on Monday. The two banks will handle all cash management and payment transaction operations for supermarkets directly operated by Aeon Vietnam and for the 120 or so stores in Aeon Vietnam's first Aeon Mall, which will open in January 2014, in Ho Chi Minh City.
Sales data will be managed comprehensively through point-of-sale systems to be installed in each store and which are capable of supporting credit card transactions. The banks will also offer other financial services, including direct deposit of employee salaries.
The partnership will also issue an Aeon-Vietcombank debit card. To promote sales and enhance customer loyalty, the card will offer such perks as points based on purchase amounts and coupons.
Sent from Goay Joe Lie
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