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Table of Contents
ACKNOWLEDGEMENT i
ABSTRACT ii
GLOSSARY OF TERMS AND ABBREVIATIONS iv
TABLE OF CONTENTS v
LIST OF TABLES AND FIGURES vii
CHAPTER I. OVERVIEW OF BANKCARD 1
1.1. General introduction about bankcard 1
1.1.1. History of bankcard 1
1.1.2. Concept and classification 2
1.2. Cards’ activities in commercial banks 5
1.2.1. Entities join card activities 5
1.2.2. Transaction process 6
CHAPTER II. THE ROLE OF MARKETING ACTIVITIES TO BANKCARD AND ACTUAL STATE OF AGRIBANK CARDS 9
2.1. Introduction of Vietnam Bank for Agriculture and Rural Development (Agribank) - Thanh Xuan branch 9
2.1.1. Foundation and development of Agribank Thanh Xuan 9
2.1.2. Organization structure 10
2.1.3. Products and services 11
2.2. Marketing activities at Agribank Thanh Xuan 12
2.2.1. Organization of Services and Marketing Department 12
2.2.2. Current marketing activities 13
2.2.3. The role of marketing to Agribank cards. 14
2.3. Bankcard activities in the branch 15
2.3.1. Introduction of Agibank cards 15
2.3.2. Actual state of Agribank card in the branch 17
2.3.2.1. Some results of development Agribank card 17
2.3.2.2. Existing problems and difficulties. 21
CHAPTER III. SOLUTIONS TO DEVELOP AGRIBANK CARDS AT AGRIBANK THANH XUAN 23
3.1. Advantages and disadvantages in developing bankcards 23
3.1.1. Advantages 23
3.1.2. Disadvantages 23
3.2. Marketing mix solutions to develop Agribank card 24
3.2.1. Study and set the target market 24
3.2.2. Marketing mix solutions to develop Agribank cards 26
3.2.2.1. Product policies 26
3.2.2.2. Price policies 28
3.2.2.3. Promotion policies 28
3.2.2.4. Place policies 29
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the merchant
(2), (3) - The merchant, in effect, sells the transaction to the acquire and is reimbursed the amount of the sales ticket by the acquirer
(4) - The acquirer then summits the ticket to the issuer for payment, via the ICO interchange and settlement system.
(5) - The issuer bills the cardholder
(6) - Finally, the cardholder repays the issuer for the goods or services originally purchased from the merchant.
ICO are at the centre of the transaction process, maintaining the flow of funds and information between issuing and acquiring members.
The exchange of financial information is called clearing. The exchange of the actual funds for the transaction and the fees associated with them is called settlement. The term used to refer to the clearing and settlement system as a whole is interchange.
CHAPTER II. THE ROLE OF MARKETING ACTIVITIES
TO BANKCARD AND ACTUAL STATE OF AGRIBANK CARDS
2.1. Introduction of Vietnam Bank for Agriculture and Rural Development (Agribank) - Thanh Xuan branch
2.1.1. Foundation and development of Agribank Thanh Xuan
In 2007, Vietnam Bank for Agriculture Development - Thanh Xuan branch was founded under Decision No 1292/QĐ/HĐQT/TCCB dated November 29th, 2007 by the Board of Directors of Agribank with the primary staff of 36 people.
Located in 90 Lang Street, Thanh Xuan District, a vast residential area with many convenient economic conditions, Agribank Thanh Xuan has many advantages to do business effectively. Thanh Xuan branch operates its business mainly on Thanh Xuan District and other Districts in Hanoi. Being in the strategy of organization network development of Agribank, Agribank Thanh Xuan has played an important part in improvimg business performance of Agribank, as well as contributed to shift economic structure, promoted the further economic-social development of Thanh Xuan District in a comprehensive and sustainable way.
Since its establishment, Agribank Thanh Xuan has continuously extended trading networks, diversified items of business, currency, and credit, promoted capital sources. The branch is also focusing on improving the qualification of staff both in professional knowledge, skills and foreign languages. Thanh Xuan branch concerns not only stabilizing and expanding the network but also the living conditions of employees. Facilities are modernized, especially information technology, to serve the business better. From its establishment, the branch always makes profits, the revenue is higher year after year, contributing to the State budgets increasingly, creating credibility with customers.
Figure 5 – Education of staff
Source: Administration Department of Agribank Thanh Xuan
The pie chart shows the education degree of staff in the branch. Staff and employees in the branch have high education degree - 86% of bachelor, major in economics, banking or financial field. With the workforce have high education degree; it is one of the most important advantages to build a strong and sustainable branch. Continuously developed and widened, the staff and employees in the branch have raised to 72 people at the present time.
2.1.2. Organization structure
Through years of operation, Agribank Thanh Xuan has developed widely, at the present time it has a business network of five dealing rooms. They are: Thirty two (32), thirty three (33), thirty four (34), forty six (46) and Cat Linh dealing room.. Agribank Thanh Xuan is organized under the model of a supervisor Board of Management including a General Director and two Deputy Directors.
Organization structure of Agribank Thanh Xuan is divided into functional blocks as follows:
Figure 6 - Organization Chart
Services & Marketing Department
Administration Department
Cát Linh
Deputy Director
D
46
34
33
32
General Director
Internal Supervision
Deputy Director
Plan &
Business
Department
Accounting & Treasury Department
Dealing Rooms
Source: Administration Department of Agribank Thanh Xuan
2.1.3. Products and services
Agribank has been made an effort in developing traditional services as well as other modern and valued added services. This has enabled Agribank to diversify its own products suitable to each segment of customers. At the present time, Agribank becomes the leading bank in developing products: Mobile banking, SMS banking, VNTop up, SMS remittance (A transfer service), etc.
To Agribank Thanh Xuan, inherited reputation and successes of Agribank, the branch has its decisions, policies to precede those successes. Agribank Thanh Xuan posts in the account dependently, has its own seals, organizes and operates under Regulation on organization and operation of Agribank. Agribank Thanh Xuan provides products and services which serve:
- Personal customers: They are individual, households join transactions in the branch. The branch provide these customers: Individual account, loans, savings and investment, remittance, Agribank card, foreign exchange
- Corporate customers: They are target customers of the branch. Money flows often in a great number. They are organizations, corporate… Services and products include: guarantee service, international payment, account, lending, check services, valuable notes, payment, border payment, saving deposit, leasing, foreign exchange, factoring
- Financial institutions: Agribank hope to “provide various services in order to satisfy customers coming from financial institution sectors”. These services are: retail banking, foreign exchange, treasuring, financial trading, project based lending.
2.2. Marketing activities at Agribank Thanh Xuan
2.2.1. Organization of Services and Marketing Department
Figure 7 - Services and Marketing Department Head of Department
International Payment
Section
Card Section
Source: Administration Department
Services and Marketing Department has 6 staff with separate tasks and roles in their own working field:
- Head of Department: is directly responsible for the work and plans of department to the Director, makes plans and assigns tasks to the staff to complete objects of Department and the branch.
- Marketing staff: 4 employees are in charge of Card section and 1 staff is responsible for International payment Section.
Establishment of Marketing Department helps the branch to carry out marketing activities more professionally, exactly and effectively. It is not like many other branches which do not have a marketing department. Instead of that marketing activities are carried out under Business Department or hired expertise from outside. At Agribank Thanh Xuan, the Department is specialized in marketing operation. This establishment is also a success of the branch.
2.2.2. Current marketing activities
The most important function of the department is to research and then bring banking services of the branch to more and more customers. Services and Marketing Department provides banking services to customers: remittance, opening new banking account, foreign exchange, mobile banking, factoring, international payment….
+ Card Section: introduce and issue card, develop existing cards and research, create new types of cards
+ Marketing: Marketing role is to carry out strategies, advertise programmes… to promote the image of Agribank as well as the branch, new products and services, promotion activities…to public.
+ International payment Section: the section realizes operations related to international transactions: foreign exchange, factoring, international payment by SWIFT…
The work-force of the department is all young, creative, skillful and enthusiastic. This is the advantage for the department to develop business. The department has not been established for a long time; however, it gains certain success:
Table 1 - Total profit of services (VND million)
Operation
October
November
December
Accumulation of 12 months
1
Guarantee
119.5
208
290.2
3,465
2
Payment services
192
213.4
280.4
2,376.9
Total
311.5
421.4
570.6
5,841.9
Source: Report on performance of Services and Marketing Department in the 4th quarter, 2009
The table shows the total profit from operation of services in Services and Marketing Department in three month and accumulation of 12 months. Figures are given in VND million. As can be seen in the table, the total profit of services had steadily increased in all period. In particular, the total profit of November and December went up sharply, at 35.3% and 35.4% respectively, contributed directly to big accumulation of 12 months. The growth of total profit showed that the Department has continuously made an effort to diversify the variety of services to meet and satisfy better customers’ needs and demands.
2.2.3. The role of marketing to Agribank cards.
Tasks of Marketing Department were ruled in Decision No 107/QĐ/NHNo – HCNS dated August 25th, 2009 by the Director of the branch. The decision ruled some major tasks of Services and Marketing ...
(2), (3) - The merchant, in effect, sells the transaction to the acquire and is reimbursed the amount of the sales ticket by the acquirer
(4) - The acquirer then summits the ticket to the issuer for payment, via the ICO interchange and settlement system.
(5) - The issuer bills the cardholder
(6) - Finally, the cardholder repays the issuer for the goods or services originally purchased from the merchant.
ICO are at the centre of the transaction process, maintaining the flow of funds and information between issuing and acquiring members.
The exchange of financial information is called clearing. The exchange of the actual funds for the transaction and the fees associated with them is called settlement. The term used to refer to the clearing and settlement system as a whole is interchange.
CHAPTER II. THE ROLE OF MARKETING ACTIVITIES
TO BANKCARD AND ACTUAL STATE OF AGRIBANK CARDS
2.1. Introduction of Vietnam Bank for Agriculture and Rural Development (Agribank) - Thanh Xuan branch
2.1.1. Foundation and development of Agribank Thanh Xuan
In 2007, Vietnam Bank for Agriculture Development - Thanh Xuan branch was founded under Decision No 1292/QĐ/HĐQT/TCCB dated November 29th, 2007 by the Board of Directors of Agribank with the primary staff of 36 people.
Located in 90 Lang Street, Thanh Xuan District, a vast residential area with many convenient economic conditions, Agribank Thanh Xuan has many advantages to do business effectively. Thanh Xuan branch operates its business mainly on Thanh Xuan District and other Districts in Hanoi. Being in the strategy of organization network development of Agribank, Agribank Thanh Xuan has played an important part in improvimg business performance of Agribank, as well as contributed to shift economic structure, promoted the further economic-social development of Thanh Xuan District in a comprehensive and sustainable way.
Since its establishment, Agribank Thanh Xuan has continuously extended trading networks, diversified items of business, currency, and credit, promoted capital sources. The branch is also focusing on improving the qualification of staff both in professional knowledge, skills and foreign languages. Thanh Xuan branch concerns not only stabilizing and expanding the network but also the living conditions of employees. Facilities are modernized, especially information technology, to serve the business better. From its establishment, the branch always makes profits, the revenue is higher year after year, contributing to the State budgets increasingly, creating credibility with customers.
Figure 5 – Education of staff
Source: Administration Department of Agribank Thanh Xuan
The pie chart shows the education degree of staff in the branch. Staff and employees in the branch have high education degree - 86% of bachelor, major in economics, banking or financial field. With the workforce have high education degree; it is one of the most important advantages to build a strong and sustainable branch. Continuously developed and widened, the staff and employees in the branch have raised to 72 people at the present time.
2.1.2. Organization structure
Through years of operation, Agribank Thanh Xuan has developed widely, at the present time it has a business network of five dealing rooms. They are: Thirty two (32), thirty three (33), thirty four (34), forty six (46) and Cat Linh dealing room.. Agribank Thanh Xuan is organized under the model of a supervisor Board of Management including a General Director and two Deputy Directors.
Organization structure of Agribank Thanh Xuan is divided into functional blocks as follows:
Figure 6 - Organization Chart
Services & Marketing Department
Administration Department
Cát Linh
Deputy Director
D
46
34
33
32
General Director
Internal Supervision
Deputy Director
Plan &
Business
Department
Accounting & Treasury Department
Dealing Rooms
Source: Administration Department of Agribank Thanh Xuan
2.1.3. Products and services
Agribank has been made an effort in developing traditional services as well as other modern and valued added services. This has enabled Agribank to diversify its own products suitable to each segment of customers. At the present time, Agribank becomes the leading bank in developing products: Mobile banking, SMS banking, VNTop up, SMS remittance (A transfer service), etc.
To Agribank Thanh Xuan, inherited reputation and successes of Agribank, the branch has its decisions, policies to precede those successes. Agribank Thanh Xuan posts in the account dependently, has its own seals, organizes and operates under Regulation on organization and operation of Agribank. Agribank Thanh Xuan provides products and services which serve:
- Personal customers: They are individual, households join transactions in the branch. The branch provide these customers: Individual account, loans, savings and investment, remittance, Agribank card, foreign exchange
- Corporate customers: They are target customers of the branch. Money flows often in a great number. They are organizations, corporate… Services and products include: guarantee service, international payment, account, lending, check services, valuable notes, payment, border payment, saving deposit, leasing, foreign exchange, factoring
- Financial institutions: Agribank hope to “provide various services in order to satisfy customers coming from financial institution sectors”. These services are: retail banking, foreign exchange, treasuring, financial trading, project based lending.
2.2. Marketing activities at Agribank Thanh Xuan
2.2.1. Organization of Services and Marketing Department
Figure 7 - Services and Marketing Department Head of Department
International Payment
Section
Card Section
Source: Administration Department
Services and Marketing Department has 6 staff with separate tasks and roles in their own working field:
- Head of Department: is directly responsible for the work and plans of department to the Director, makes plans and assigns tasks to the staff to complete objects of Department and the branch.
- Marketing staff: 4 employees are in charge of Card section and 1 staff is responsible for International payment Section.
Establishment of Marketing Department helps the branch to carry out marketing activities more professionally, exactly and effectively. It is not like many other branches which do not have a marketing department. Instead of that marketing activities are carried out under Business Department or hired expertise from outside. At Agribank Thanh Xuan, the Department is specialized in marketing operation. This establishment is also a success of the branch.
2.2.2. Current marketing activities
The most important function of the department is to research and then bring banking services of the branch to more and more customers. Services and Marketing Department provides banking services to customers: remittance, opening new banking account, foreign exchange, mobile banking, factoring, international payment….
+ Card Section: introduce and issue card, develop existing cards and research, create new types of cards
+ Marketing: Marketing role is to carry out strategies, advertise programmes… to promote the image of Agribank as well as the branch, new products and services, promotion activities…to public.
+ International payment Section: the section realizes operations related to international transactions: foreign exchange, factoring, international payment by SWIFT…
The work-force of the department is all young, creative, skillful and enthusiastic. This is the advantage for the department to develop business. The department has not been established for a long time; however, it gains certain success:
Table 1 - Total profit of services (VND million)
Operation
October
November
December
Accumulation of 12 months
1
Guarantee
119.5
208
290.2
3,465
2
Payment services
192
213.4
280.4
2,376.9
Total
311.5
421.4
570.6
5,841.9
Source: Report on performance of Services and Marketing Department in the 4th quarter, 2009
The table shows the total profit from operation of services in Services and Marketing Department in three month and accumulation of 12 months. Figures are given in VND million. As can be seen in the table, the total profit of services had steadily increased in all period. In particular, the total profit of November and December went up sharply, at 35.3% and 35.4% respectively, contributed directly to big accumulation of 12 months. The growth of total profit showed that the Department has continuously made an effort to diversify the variety of services to meet and satisfy better customers’ needs and demands.
2.2.3. The role of marketing to Agribank cards.
Tasks of Marketing Department were ruled in Decision No 107/QĐ/NHNo – HCNS dated August 25th, 2009 by the Director of the branch. The decision ruled some major tasks of Services and Marketing ...