HSBC Partners with Vietnam Post to Extend Banking Services

HSBC has partnered with Vietnam Post Corporation (VNPost) in order to extend access to banking services for HSBC customers to approximately 2,000 post offices across the country. In addition to offering consumers a more convenient way of settling their bills, the partnership will also improve the efficiency of the receivables management processes of those merchants that bank with HSBC and choose to use this new service to collect payments from their retail customers.

Retail and corporate customers may approach a cashier counter inside any Vietnam Post office to settle their outstanding bills in cash. The use of barcode technology and instant checksum validation of bill data will reduce errors and ensure prompt payment. Merchants will also be provided with a daily, single bulk credit to their collection account with HSBC, and receive enhanced collection information services.

John Laurens, head of global payments and cash management, said: “As the largest foreign bank in Vietnam, HSBC’s partnership with VNPost provides an excellent nationwide service network for our clients and will enable us to further develop our fast growing cash management franchise in this strategically important market.”


Related reading

New consumer banking head for Citi Asia Pacific