BC Card Accelerates Entry into Vietnam Card Payment Market... "Acquires Stake in Local Company"

Acquisition of 100% Stake in Leading Distributor Supplying POS Terminals to Local Banks in Vietnam

[Asia Economy Reporter Ki Ha-young] BC Card is making a full-scale entry into the Vietnamese card payment market through the acquisition of shares in the leading local payment terminal supplier.

BC Card announced on the 29th that it has acquired 100% of the shares of Wirecard Vietnam, a company distributing POS terminals in Vietnam. The share acquisition contract was completed on the same day, and the payment settlement and share transfer for the actual acquisition are expected to take place within the third quarter.

Through this acquisition, BC Card plans to ▲ enhance the service competitiveness of Wirecard Vietnam ▲ provide integrated terminals capable of accepting various payment methods ▲ reduce costs through remote terminal upgrades.

Additionally, by applying BC Card’s know-how and technology, the company plans to advance services to offer diverse and convenient payment services to Wirecard Vietnam’s clients (banks and electronic payment providers) and general customers within Vietnam.

Wirecard Vietnam supplies payment terminals to over 40 major banks and electronic payment providers in Vietnam and holds the number one market share in the industry. It possesses not only distribution capabilities but also software development expertise. It is highly regarded for achieving greater customer satisfaction compared to other POS distributors operating in Vietnam by developing and providing customized POS solutions tailored to suppliers’ needs.

Choi Won-seok, CEO of BC Card, stated, "We decided on this share acquisition to directly enter the Vietnamese local market and secure stable business operations," adding, "We will strive to generate diverse profits through business diversification such as overseas market expansion."

Meanwhile, since 2017, BC Card has been collaborating with various payment institutions in Vietnam, including NAPAS, the international payment network under the State Bank of Vietnam, as well as LienVietPostBank and Sacombank, to digitalize the Vietnamese payment market.