HSBC Vietnam: Cash to Credit Card Transformation

HSBC, a financial services brand, increased credit card penetration and usage in Vietnam, through a consumer profiling and direct targeting strategy.

Campaign details

Brand: HSBC VietnamLead agency: Mindshare VietnamRegion: APAC


HSBC, the leading Visa Credit Card in Vietnam, wanted to grow credit card penetration and increase credit card usage in Vietnam.

Vietnam's economy is growing steadily, with GDP YOY growth of ∽6.8%, however the challenge remains that only 18% of Vietnamese are connected with the banking system and salaries remain low, average monthly income is $260 (as per ministry of Industry & Trade). As a result, Vietnam has one of the lowest penetrations of consumer lending; credit cards account for only 15% (as per Ministry...

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