Just Released: "Credit Cards in Vietnam"
Credit cards remains a niche category in Vietnam due to many reasons. Firstly, credit cards usually have an annual fee, whilst most debit cards are free of charge. Thus, people prefer to use debit cards. Secondly, most credit cards promotion focuses on high-end products, thus limiting the target market to higher mid-income and wealthy consumers. Lastly, and most importantly, in 2012, the government released instructions to the banks to restrict their credit card operations, without any reasons.
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