Global payment processor MasterCard, in collaboration with Vietnam-based Sacombank, has launched card payments service at Ho Chi Minh City’s Ben Thanh market for the first time.
Both companies collectively provided approximately 300 mPOS terminals to merchants at the wet market last month, as reported by Finextra.
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The mPOS terminals will allow sellers to accept card payments through their smartphones.
MasterCard said that the program will enable merchants to firmly inculcate formal financial system while offering consumers better incentive to use cards.
MasterCard Indochina country manager Arn Vogels was quoted by Finextra as saying, "In Vietnam, limited acceptance is one of the key factors that hinders the development of electronic payments."
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