ASIA-PACIFIC – VIETNAM, AUGUST 28, 2013 – Vietnam Prosperity Bank (VP Bank) has budgeted Leo Burnett Vietnam to introduce SmartCash, the first virtual prepaid card offering in Vietnam.
SmartCash offers secure and easy payment to the fast developing e-commerce market of the country. A recent PWC report showed that Vietnam’s e-commerce market value (“gross merchandised value”) was approximately USD $300 million in 2011 with the expectation to grow at an average 75% from 2011-2015 to USD $2.8 billion by 2015.
Leo Burnett Vietnam was tasked to analyze the e-commerce and e-payments space across different markets to develop a launch strategy which includes ecosystem structure, branding and the long term communication strategy.
“The launch of SmartCash will help us leap ahead of our competition through the offering of a safe and unique solution for e-commerce and digital payments. As a first of its kind in the market, SmartCash will help position VP Bank as an innovative organization in the banking industry,” said Kalidas Ghose, head of Retail Bank for VP Bank.
Leo Burnett Vietnam managing director Lukasz Roszczyc added: “With SmartCash, we are bringing banking possibilities for millions of users, including those who have never had a bank account and those who are hungry for e-commerce experience.”
“As digital becomes a way of life for people, e-commerce becomes a key focus for businesses, continued Jaroslaw Ziebinsk, president Leo Burnett Asia Pacific. “E-commerce has been one of the strategic pillars for Leo Burnett globally and we have consistently been growing, developing and accumulating our expertise in this area in order to deliver the best business and creative solutions to address consumers’ changing behaviours through the possibilities of technology."
