GREAT DEAL FOR NBC CUSTOMERS THROUGHOUT TET FOR QR CODE PAYMENTS AND RECEIPTS

In the days preceding Tet, the National Citizen Commercial Joint Stock Bank (NCB) has just introduced enticing incentives for customers who use QR codes to receive and send funds in both directions. This initiative enables them to conduct business in a secure, convenient, and cost-effective manner.

The rise of the QR code

In Vietnam, QR codes have emerged as a prevalent method of electronic payment. This approach has gained significant traction among customers due to its integration with digital banking and point-of-sale payment applications, which significantly simplify the use of financial services.

"QR code payment is extremely efficient for me. Concerns regarding incorrect account numbers, return of change, and frequent discount codes are unnecessary. A small amount of money can make a significant difference; whenever possible, reduce expenditures by a few tens of thousands of VND; this will result in substantial savings," said Ms. Minh Trang (32 years old, office worker, Hanoi) as she frequently scans QR codes when browsing for groceries or clothing at the supermarket.

In the meantime, the proprietor of a café located in Hai Phong, Mr. Hoang Nam, disclosed that his establishment is experiencing a surge in QR code payments, which occasionally comprise 50–60% of monthly revenue.  

"I am extremely satisfied with the NCB bank's iziMobile app, which utilizes QR codes; it is advantageous for both the store and its customers. I am ecstatic because in addition to receiving discount codes, customers also provide me with additional incentives when I cash in via QR code," explained Mr. Nam.

The integration of QR codes into digital banking facilitates transactions when using financial services.

In the initial 9 months of 2023, payment transactions conducted in Vietnam through the QR code method experienced a twofold increase when compared to the corresponding period in 2022, surpassing 100 million transactions per month, according to Napas. Additionally, the value of QR code payments surpasses that of other payment methods and has a quarterly growth trend.

Concurrently, payment via QR codes is being extended to a vast array of industries, product categories, and services, including bill payment, dining, purchasing, and more, and is widespread across the nation.

Users receive great offers

In response to contemporary customer preferences and in an effort to encourage non-cash transactions, the National Citizen Commercial Joint Stock Bank (NCB) has implemented a variety of enticing incentive programs that reward customers for using QR codes to pay invoices or receive cash.

Consequently, customers using the NCB iziMobile digital banking app who select the promotional code displayed on the application and scan the QR code at VNPAYQR payment acceptance points will receive an immediate 10% discount on invoice value (up to a maximum of VND 50,000) until January 25, 2024. This is one of the extremely practical incentives that NCB has implemented to provide customers with a purchasing experience that is not only convenient but also significantly cost-effective.

Customers receive an immediate 10% discount on the bill when paying via QR code on the NCB iziMobile app.

Customers who receive cash through QR codes are additionally eligible for direct monetary incentives. Specifically, NCB is offering VND 100,000 to customers who open a new payment account, maintain an average account balance of at least VND 10 million, and complete 10 successful QR code-based money transfers from other institutions between now and January 31, 2024.

By maintaining an average payment account balance of at least VND 30 million, the bank extends to existing customers an incentive of up to 0.2% of the total amount effectively received from other banks via QR code (maximum VND 1 million).

With the objective of achieving a holistic digital transformation and perpetually enhancing the customer experience, NCB Bank has consistently added appealing and practical functionalities to the NCB iziMobile digital banking application over the last two years. This has resulted in the creation of a "neat pocket bank" for retail customers.

In addition to the QR code scanning payment method, the NCB iziMobile digital bank offers numerous complimentary features, including the ability to establish an account or transfer savings online within one minute, execute quick money transfers in a matter of seconds, and set up automatic bill payment, among others. The app can therefore fulfill the daily personal financial requirements of all users in the shortest amount of time and from any location.