As many as 18 banks and credit organisations agreed to implement a cashback policy to customers joining in Online Friday 2016 on December 2 (Photo: congly.vn)
Hanoi (VNA) - As many as 18 banksand credit organisations agreed to implement a cashback policy to customersjoining in Online Friday 2016 on December 2. Le Duc Anh from theVietnam E-commerce and Information Technology Agency (VECITA) under theMinistry of Industry and Trade said under the cashback policy, banks would givepeople a discount into their bank accounts after buying products or servicesonline. Last year, the rateof card payment on Online Friday was only 4 percent while the remaining wascash on delivery (COD). COD has caused difficulties for both delivery firms andretailers as only 1 out of 10 orders were successfully implemented. Businesseshave suffered costs for goods which were not delivered to customers. This prompted themove to call for banks’ participation in the cashback policy. The payment wouldbring benefits to businesses, delivery firms and customers. Customers could getup to 500,000 VND (22 USD) for a 1 million VND order if they pay by bank cardson Online Friday 2016, Anh said. VECITA said theMaritime Bank and ACB have the highest rate of cashback of up to 50 percentwhile Agribank, Kien Long Bank and SCB give a 30 percent discount. Eximbank, NCB, VRB,BaoVietBank, HDB and MB would give 20 percent discounts to customers paying bycards. An Binh Bank and VP Bank offer a discount of 10 percent in the day.Sacombank also joined in the programme with a discount rate of 5 percent. SeABank gives 500,000VND cashback for bills of more than 1 million VND. Vietcombank wouldadd 200,000 VND cashback for its local debit card for online purchases of morethan 500,000 VND on 27 big domestic online websites such as Adayroi, Tiki,Shoptretho, Lazada and Fptshop. The cashback willapply only on December 2.
The year’s largeste-commerce event will take place from December 1 to 4 with two main events ofOnline Friday at website store.onlinefriday.vn/ and Big Off in the pedestrianstreets around Ho Guom (Sword Lake) in the centre of Hanoi. VECITA said the organising boardthis year has𝕴 taken sol💜utions to prevent fraudulent promotions.
It has cooperated with pricecomparison websites such as Top Mot, Websosanh and Chongiadung to help consumers compare prices of goods and services. People could also use the iCheck appto check product information. As of November 28, the organisingboard removed more than 60,000 products registering in the day as they havehigher prices than the average level in the market.-VNA
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As many as 18 banks and credit organisations agreed to implement a cashback policy to customers joining in Online Friday 2016 on December 2 (Photo: congly.vn) 
