Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) has entered into a partnership agreement to be the exclusive issuer of Diners Club cards in the country.

Owned by Discover Financial Services, Diners Club is a charge card company that provides travel and entertainment credit cards.

VietinBank will issue standard as well as contactless cards as the country is witnessing swift growth in number of contactless terminals.

VietinBank deputy CEO and retail banking division head Phung Duy Khuong said: “The project between VietinBank and Diners Club marks a new step for the diversification of products in the card market in Vietnam, providing a new modern payment tool for customers to choose.

“At the same time, this is also a good opportunity for VietinBank to promote our brand, products and services in general – and card products in particular – to confirm the competitiveness and strength of VietinBank in all areas.”

The launch is being supported by Compass Plus, a technology services provider, with which VietinBank has partnered since 2009 for leveraging its TranzWare solutions.

Compass Plus sales and account manager Igor Simonov said: “We are delighted to support VietinBank with the launch of their new Diners Club card project.

“The bank continues to demonstrate its strength in the card market by striving to provide its customers with the best card products on offer.”