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| Global Loyalty Network (GLN), a subsidiary of Hana Bank, has launched a cash out service using QR code in Vietnam. Courtesy of Hana Bank |
By Yi Whan-woo
Hana Bank said Tuesday that its overseas subsidiary, which is aimed at electronic financial services, launched a new service in Vietnam that allows customers to withdraw cash by using a QR code.
The cash out service of Global Loyalty Network (GLN) has been made possible with the Bank for Investment and Development of Vietnam (BIDV), a Vietnamese state-run bank tasked with retail banking.
Customers can withdraw money by scanning a QR code on any of the 1,900 BIDV automated teller machines (ATMs) scattered across the country.
The QR code can be downloaded on Hana 1Q, a mobile app developed by Hana Bank.
"The customers will no longer need plastic cards when withdrawing their cash, and such a service will be available through a simple, easy-to-use QR code," GLN said in Hana Bank's press release.
It noted that Vietnam serves as a strategically-important point in GLN's global expansion, saying, "We will capitalize on the service to set a foothold in a wide range of businesses abroad."
GLN was established in July 2021. It currently offers QR code services in Japan, Thailand, Taiwan, Hong Kong, Singapore and Laos, in cooperation with lenders in respective countries.
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