VPBank MWG Mastercard: Vietnam’s First Retail-Specific Credit Card Launches

Hanoi, Vietnam – March 7, 2026 – A new era in Vietnamese consumer finance has begun with the launch of the VPBank MWG Mastercard, a co-branded credit card developed by Vietnam Prosperity Joint Stock Commercial Bank (VPBank), Mastercard, and retail giant Dien May Xanh (DMX). This innovative card is positioned as the first of its kind in Vietnam, specifically tailored to the country’s rapidly growing retail and consumer electronics sector.

A Strategic Partnership

The collaboration brings together VPBank’s established presence in the Vietnamese banking landscape, Mastercard’s global payment network, and DMX’s extensive retail ecosystem. DMX, which owns leading chains such as The Gioi Di Dong, Dien May Xanh, TopZone, AVAKids, and An Khang, boasts a network of approximately 3,000 stores and online channels nationwide [1]. This extensive reach provides a unique platform for the VPBank MWG Mastercard to capitalize on consumer spending habits.

Cashback and Rewards

The VPBank MWG Mastercard offers a tiered cashback system designed to incentivize spending across various categories. Cardholders can earn:

• Up to 10% cashback on purchases within the DMX ecosystem (The Gioi Di Dong, Dien May Xanh, Avakid, Nha Thuoc An Khang, and TopZone), capped at 300,000 VND per statement cycle [1].
• 4% cashback on fashion and dining purchases, up to 300,000 VND per cycle.
• 0.1% cashback on all other eligible spending, subject to meeting sales conditions [1].

In addition to cashback, the card offers attractive welcome offers, including a potential annual fee waiver in the first year, up to 400,000 VND in welcome cashback, and 100,000 reward points for VIP gifts [1].

Driving Digital Payments in Vietnam

Vietnam has seen significant growth in non-cash transactions, reaching approximately 28 times the country’s GDP in 2025 [1]. The VPBank MWG Mastercard aims to further accelerate this trend by providing a convenient and rewarding payment option for consumers. A VPBank representative stated that the launch is a key step in their credit card strategy, following successful partnerships across various sectors [1].

Accessibility and Security

The VPBank MWG Mastercard is built on Mastercard’s secure global payment network, ensuring secure transactions both nationally and internationally. The card meets international security and risk management standards [2]. Customers can apply for the card online through the VPBank app, at DMX’s VIP Gifts locations, or in person at any of the approximately 3,000 DMX retail stores.

Looking Ahead

The launch of the VPBank MWG Mastercard signifies a commitment from all stakeholders to promote a safe, convenient, and digitally-driven payment experience in Vietnam. This specialized credit card represents a shift towards more targeted financial products designed to meet the evolving needs of Vietnamese consumers and capitalize on the country’s growing retail sector [3].