BGS Signs Contract With Viet A Bank

Vienna, Austria (18.6.2008) - BGS Smartcard Systems and Vietnam Asia Commercial Bank (Viet A Bank) signed a contract for the deployment and implementation of BGS’ payment solution DUET in Ho Chi Minh City.

The signing ceremony was hosted by BGS & Viet A Bank at the Hilton Hotel in Hanoi, on the occasion of the Official Visit of H.E. Minister Martin Bartenstein, the Federal Economic Minister of Austria to Hanoi. Additional Honoraries included H.E. Phung Khac Ke, the Deputy Governor of the State Bank of Vietnam, and H.E. the Austrian Ambassador Johannes Peterlik.

From Viet A Bank, Chairman Do Cong Chinh and CEO Pham Duy Hung were signatories of this contract. Leonid Delberg, Chairman & CEO and Basel Abdelmoneim, VP SEA-MEA, were signatories from the Austrian firm BGS Smartcard Systems.

As H.E. Minister Bartenstein stated in his address: “This project is an important step for the growing trade cooperation between the Republic of Austria and the Socialist Republic of Vietnam. It represents a significant innovation for the banking and commercial sector under the guidance of the State Bank of Vietnam and the Ministry of Finance of Vietnam on the path towards a nationwide cashless payment infrastructure. We know BGS Smartcard Systems as an experienced and successful company which has, over the last 15 years, proven its professional competence and technology excellence many times.”

Basel Abdelmoneim, VP SEA-MEA, emphasized the socio-economic relevance of this project: “By selecting the DUET Multifunctional Platform as its underlying technology solution to meet its comprehensive business requirements, Viet A Bank has now championed the domestic payment initiative in the Socialist Republic of Vietnam. Finally, as part of its long term CSR program, Viet A Bank plans to work with Microfinance Institutions through its use of BGS’ last mile technology provided with the DUET microfinance platform. We look forward to many years of productive work together with Viet A Bank within the domestic financial services market.”

Maily Nguyen, Vice President, Consumer Banking stated:”Viet A Bank is excited and very pleased to implement a highly secure and flexible cashless payment solution for the Vietnamese people; this is another step towards Vietnam’s more efficient way of conducting its day to day business processes. Viet A Bank is also playing the critical role of Application Service Provider (ASP) to the entire Vietnamese financial community in order to address the Prime Minister’s decrees on further promoting cashless payment technology in Vietnam”