Visa Account Updater provides lifelong credentials that empower merchants with enhanced operational efficiency, improved transaction success rates;

customers no longer need to update credit card information across multiple platforms

SINGAPORE, Nov. 8, 2023 /PRNewswire/ — Visa, a world leader in digital payments, today announced the expansion of Real Time Visa Account Updater (VAU) to selected markets in Asia Pacific[1], streamlining the payment experience for merchants and customers by providing cardholders with a single credential for life. With the introduction of the service in Asia Pacific, consumers and merchants in the region will have access to Real Time VAU across subscription services such as ride-hailing, food delivery and monthly utility payments, amongst others.

Backed by Visa’s technology, Real Time VAU helps merchants solve the issue of declined payments from customers with expired or replaced debit and credit cards by allowing businesses to effortlessly update customers’ stored card details in real time. When a merchant submits a payment, Real Time VAU instantly checks for the latest card details and will transact the payment request with the updated card details, lowering the rates of authorisation declines, lost sales and severed cardholder relationships. Real Time VAU was first launched by Visa in North America in 2017, and in Europe in 2022.

"While card expiration and replacement are necessary as part of fraud protection and card security enhancements, we recognise that consumers often face the unnecessary inconvenience of updating numerous automatic payment arrangements every few years when issued a new card," said T.R. Ramachandran, Head of Products & Solutions, Asia Pacific, Visa. "The launch of Real Time VAU, in collaboration with our partners in Asia Pacific, will streamline this process while continuing to uphold the highest level of security. By providing merchants with the technology, we are empowering them to increase revenue and card authorisation rates, while delivering a seamless payment experience that aligns with what consumers have come to expect today."

Businesses and consumers are increasingly migrating away from cash to electronic and card payments with the proliferation of contactless payments and online services. However, the process of manually updating credentials upon card expiry or upgrade causes frustration in the payments journey. By facilitating the secure exchange of updated account information between participating merchants and Visa card issuers, VAU empowers these merchants to provide a seamless payment experience that fosters customer loyalty and retention, while boosting overall sales revenue.

In Asia Pacific, Visa is partnering with four global payment gateways and acquirers – Adyen, Checkout.com, Stripe and Worldpay – to launch VAU in Asia Pacific. Cybersource, a Visa solution, is also offering VAU to customers to enable more businesses across the region to reap the benefits of VAU. This will especially benefit businesses who offer subscription services, such as ride-hailing apps, merchants in the food delivery and utility space, and more.

Additional quotes for use

Warren Hayashi, President, Asia Pacific, Adyen

"We are excited to collaborate with Visa to bring Real Time Visa Account Updater (VAU) to Asia Pacific, building upon our successful adoption of the technology in Europe last year. This partnership enables us to enhance the payment experience for our customers across multiple regions by seamlessly updating their card details in real time. With Real Time VAU, we can minimise declined transactions to retain customer revenue and ensure a frictionless payment experience."

Brian Sze, General Manager APAC, Checkout.com

"Partnering with Visa to bring Real Time Visa Account Updater (VAU) across Asia Pacific is a significant step in minimising friction for consumers, eliminating the frustration that many face when they have to do manual updating of payment credentials. This solution also makes it a smarter way for businesses to be paid, enabling them to dedicate scarce resources to drive their business priorities instead of worrying about card declines."

Michael Balsamo, Head of International Card Networks, Stripe

"At Stripe, we are obsessed with helping businesses increase their revenue. In the last year, 40% of cardholders replaced their cards as a result of the card expiring, getting lost, or being compromised by fraud and most cardholders don’t typically update their card details. We are excited to be the first to partner with Visa to extend real-time updates to businesses in Asia Pacific. This will result in a more seamless checkout experience, where customers can complete their purchase quickly on the very first try."

Phil Pomford, SVP, General Manager of APAC, Worldpay from FIS

"As a leading provider of payment solutions, we are delighted to collaborate with Visa to support Visa Account Updater Suite (VAUS) to our customers in Asia Pacific. Our ambition is to work together with our partners to accelerate global commerce for our merchants and consumers. VAUS revolutionises the way businesses manage card updates, improving payment authorisation rates and reducing customer friction to help merchants boost revenue."

About Visa

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com. 

[1] Applicable to all Asia Pacific markets except Bangladesh, Mainland China and India.

Source : Visa launches Real Time Visa Account Updater in Asia Pacific to streamline payment experiences

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BANGKOK, Thailand, Nov. 7, 2023 /PRNewswire/ — On November 7, 2023, during the Defense and Security 2023 Exhibition in Bangkok, Thailand, Viettel High Technology Industries Corporation (Viettel High Tech) and PT. Bandara Praniagatama of Indonesia signed an agreement to distribute Viettel’s aircraft simulators and pilots training system in Indonesia.

Viettel High Tech and PT. Bandara Praniagatama signed an agreement to distribute Viettel’s aircraft simulators and pilots training system in Indonesia

According to the agreement, PT. Bandara Praniagatama will serve as the sole distributor of Viettel’s aircraft simulators and pilots training system in the Indonesian market for a period of two years. Additionally, PT. Bandara Praniagatama will have the opportunity to distribute these products in other international markets where they provide services. This agreement marks a significant milestone in Viettel’s efforts to expand its export market for Viettel’s aircraft simulators, with expected revenues reaching tens of millions of dollars.

PT. Bandara Praniagatama holds a prominent position as the foremost pilot training company in Indonesia. The company has been specifically designated by the Ministry of National Defense and the Indonesian Army to explore collaboration opportunities and provide training for the country’s air force. Furthermore, PT. Bandara Praniagatama boasts a wealth of experience in partnering with reputed international entities, including the Royal Malaysian Air Force, Republic of Singapore Air Force, CAE, Lockheed Martin, Lion Air and Merpati Airlines…

Meanwhile, Viettel stands as a trailblazer in the utilization of simulation technology for military training in Vietnam. The aircraft simulators and pilots training system developed by Viettel aptly fulfills the training needs of not only the Vietnam People’s Army but also armed forces in various other nations. Viettel retains complete ownership over every aspect, ranging from research and design to manufacturing and core technologies. Through this agreement, Viettel anticipates exporting their flight simulation products to the Indonesian market, as well as other promising markets within the region.

Mr. Nguyen Vu Ha, General Director of Viettel High Tech expressed, "Our Made in Vietnam system, is expertly crafted by a dedicated team of Viettel specialists who possess core technology. This empowers Viettel with the capability to swiftly adapt and promptly address user requests, without relying on external partners. Such autonomy enables us to facilitate uninterrupted training for the Air Force, ensuring pilot safety, and bolstering the combat readiness of the Indonesian Air Force."

"Our partnership with Viettel, a leading high-tech company in Vietnam, will enable us to fully address the simulation system training and equipment requirements of the Indonesian market. We see a lot of potential and look forward to Viettel’s new innovations in the future. Presently, Indonesia and other countries in the region are placing a strong emphasis on comprehending their own country’s internal dynamics, creating a significant opportunity for Viettel to fulfill that need. Furthermore, Viettel’s exceptional production capacity allows them to compete with major companies in the industry," commented Ms. Rengga Dina Permana, General Director of PT. Bandara Praniagatama.

Viettel’s aircraft simulators and pilots training system boasts numerous advantages and is poised for success in the international market.

Media Contact:

Mrs. Le Thuy Mai
Director of Marketing, Viettel High Tech
[email protected]

Source : Viettel entered into an agreement to distribute an aircraft simulation system in Indonesia

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GUANGZHOU, China, Nov. 8, 2023 /PRNewswire/ — The 2023 China Innovation and Entrepreneurship Fair (CIEF) will take place in Guangzhou from Nov. 17 to 19. Eight editions of CIEF have been successfully held since 2015.

With the theme of "empowering new tracks and promoting new development together", the 2023 CIEF will be held both virtually and on site in the form of "3+2+N", attracting many high-end and high-quality projects from China and other countries. Among them, the special zone for innovative achievements of the Belt and Road and the Greater Bay Area has seen more than 500 projects from 84 companies. In addition, nearly 200 projects from more than 10 countries, including the US, Russia, the UK, France, Germany, Italy and South Korea, etc., will be on display in other exhibition areas.

It is reported that the "CIEF strategic cooperation fund for achievements transformation" will be established to match funds with projects, capital with manufacturing, and technology with industry, forming a high-level cycle of "technology-industry-finance".

Several supporting events will be held during the Fair, including the First CIEF Innovation and Entrepreneurship Competition, the selection of top innovation and entrepreneurship projects, the matchmaking of technology achievements and intellectual property projects, on-site roadshows, industrial park tours of academicians and experts, and policy lectures, to provide more comprehensive services and support for innovation and entrepreneurship.

Source : The 2023 CIEF will open in Guangzhou to showcase 300 overseas projects

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This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network

HANOI, Vietnam, Nov. 8, 2023 /PRNewswire/ — The process of researching 5G technology at Viettel Group began in 2019 and has since confirmed complete control over the 5G telecommunications infrastructure, ensuring robust protection from within.

Viettel Announces the Successful Research of a 5G Chip

A significant event in the Vietnamese technology industry was recently announced at the International Innovation Exhibition Vietnam 2023 (VIIE 2023): The Military Industry and Telecoms Group (Viettel) successfully announced the research and development of a 5G chip. This marks the latest advancement, affirming that Viettel has taken full control of the 5G telecommunications infrastructure, encompassing everything from wireless transceivers, switching devices, transmission equipment, wireless access devices to the core network.

Breakthrough products that constitute the 5G telecommunications infrastructure:

Information reveals that the first 5G DFE chip series in Vietnam belongs to the 5G product ecosystem completely designed by Viettel’s engineers. This is the first and only instance in Vietnam where the most advanced and complex chip within the 5G ecosystem has been developed and successfully tested by Vietnamese engineers at Viettel. It’s the 5G DFE chip series, capable of performing 1,000 trillion calculations per second, highly regarded by reputable partners such as Synopsys, a leading global integrated circuit design provider.

Mr. Trinh Thanh Lam, Business Director of Synopsys South Asia, shared, “I was deeply moved when Viettel informed me that they were the first to bring the chip back after production, and it worked very well. Creating a chip for the Vietnamese engineer team was a very challenging task. If there were problems with its functionality, it would have significant consequences. First, it could have demoralized us regarding whether Vietnamese engineers could create such a modern chip or not. Second, it would have incurred significant financial costs. Therefore, we applied the highest level of technology to ensure that once the chip was manufactured, it would function correctly. Fortunately, the 5G DFE chip from Viettel was functional right from the start, and we are very happy.”

Dr. Le Thai Ha, Chief Technology Engineer at Viettel High Tech Integrated Circuit Center (VHT), stated, “With the Vietnamese foundation, getting in touch with and mastering this technology was not possible before 2018, 2019. These are the most advanced technologies in the world for chip design. We received support from Synopsys and sent a team of engineers to the R&D Center in Belgium.”

In addition to the 5G chip, Viettel also brought remarkable products to the exhibition that contributed to the telecommunications infrastructure, such as 5G gNodeB transceiver devices (8T8R – deep coverage devices for high-density residential areas, 32T32R – wide coverage devices, which are the main products for 5G network operators), 5G gNodeB transceiver stations, Site Router 100G transmission devices, high-frequency 5G signal processing transceiver blocks. These are essential components that make up the entire 5G telecommunications infrastructure that Viettel has declared mastery over the complete technology.

Before this, three products within Viettel’s 5G ecosystem, including 5G gNodeB, vOCS 4.0, and 5G Core, had been recognized by the world-leading research company Gartner and were included in their list of reputable international products in Gartner Peer Insights. 5G gNodeB has been deployed in five provinces and cities in Vietnam, with nearly 300 transceiver stations. vOCS, the automatic tariff calculation system version 4.0 for 5G networks, has successfully completed testing with over one million subscribers. Previously, versions for 3G and 4G networks had served in 11 countries with a population scale of over 300 million. The 5G Core device has been integrated into Viettel’s network and has successfully served over 250,000 subscribers.

Viettel’s journey to mastering the 5G telecommunications infrastructure:

At the end of 2018, Viettel announced its intention to participate in 5G technology trials and revealed that it was researching the production of 5G transceiver stations. Quickly, in April 2019, the group completed the integration of the first 5G transceiver infrastructure in Hoan Kiem District (Hanoi) and successfully tested the broadcasts across all frequency bands authorized by the Ministry of Information and Communications.

2019 was a year where Viettel achieved its first successes in researching and mastering 5G technology. The 5G gNodeB transceiver system mentioned earlier was developed by Viettel’s engineer team within six months (from June to December 2019), building on their prior experience with research on transceiver stations BTS for 4G-eNodeB and pre-feasibility studies for 5G.

This was the groundwork that allowed Viettel to successfully make the first 5G call on a 5G device developed and produced by themselves at the beginning of 2020. This event marked a historical milestone in Vietnam’s technology industry, where a domestic company officially mastered the world’s most advanced network technology. Designing and producing 5G devices in-house empowered Viettel to actively roll out 5G for their mobile network and associated services.

This research journey was by no means easy for Viettel, as their engineers had to even break their own devices to evaluate their quality. Products advanced from researching small-capacity 5G transceiver stations to large-capacity 5G transceiver stations.

In early 2023, Viettel, together with Qualcomm, announced the successful research and production of the world’s first 5G transceiver transceiver (3T32R) block using the Qualcomm Open Ran standard. Following this success, Viettel will complete the development of 5G devices (64T64R) to serve network operators in areas with high-rise buildings that require high and deep coverage.

The recent announcement of the successful development of the 5G DFE chip confirms that Viettel has built and fully mastered a 5G telecommunications infrastructure, ensuring strong protection from within.

Thus, starting as a latecomer in 4G, Viettel has transformed Vietnam into the sixth country in the world with the capability to manufacture 5G network equipment, and it is the only company globally that operates a telecommunications network while researching and producing equipment, especially 5G network devices. This ensures a secure and robust telecommunications foundation to serve the national digital transformation strategy.

According to Mr. ST Liew, Vice President of Qualcomm Technologies, shared at the High-level Semiconductor Industry Conference in Vietnam, 5G is expected to generate global revenues of $13.1 trillion by 2035. Among other aspects, chips are expected to become widely integrated into our daily lives, from the moment we wake up to the moment we go to sleep.

Viettel’s ability to fully master the chip design process represents a crucial step in Vietnam’s deeper engagement in the global semiconductor industry. This achievement also sets the stage for Viettel to produce chips for various other fields, including AI, 6G, IoT, and more, in the future.

Source : Viettel Announces the Successful Research of a 5G Chip

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HANOI, Vietnam, Nov. 8, 2023 /PRNewswire/ — On October 27 – Vietnam time zone, Team Viettel – a team of experts from Viettel Cyber Security Company (VCS) excellently won the championship at the Pwn2Own Toronto 2023 competition. This is the first time a Vietnamese cybersecurity company has taken the top spot in the world’s largest hacking competition.

Viettel Named Champion of the World’s Largest Hacking Competition

This year, Team Viettel brought a lineup of 16 Information Security (IS) experts to Pwn2Own Toronto 2023, with 75% of them belonging to the Gen Z generation. The white-hat hackers from VCS conducted penetration testing on various target devices, including mobile phones, three types of printers, smart speakers, SOHO Smash-up (small office equipment), and network storage devices. Team Viettel achieved a perfect score in all 7 categories, totaling 30 points, significantly ahead of the second-place team with 12.75 points, making them the convincing world champions.

Pwn2Own is a prestigious and the largest hacking competition in the world, organized annually by the Zero Day Initiative since 2007, often referred to as the World Cup of cybersecurity. In 2023, there were more than 20 participating teams from 17 countries. The VCS expert team has participated in Pwn2Own six times, and they ranked fifth in their very first attempt. Winning Pwn2Own 2023 further solidifies VCS’s international reputation as a significant company in the field of information security, leaving a mark on the global cybersecurity map.

Before this achievement, VCS’s IS experts had received recognition from the international community, cybersecurity rankings, and major technology companies such as Microsoft, Bugcrowd, Google, and more. Up to this point, VCS has discovered over 400 Zero-day security vulnerabilities in major IT platforms and systems such as Microsoft, Oracle, Google, Apache, VMWare, contributing to the reduction of cyberattacks and the enhancement of global cybersecurity knowledge.

About Pwn20wn:

Regarding Pwn2Own, this year’s event featured eight different categories for participants, including Mobile Phones, Home Automation Hubs, Smart Speakers, Printers, Surveillance Systems, Network Attached Storage – NAS, Google Devices, and Small Office/Home Office (SOHO) Smash-up, with over 1 million USD in prize money.

About Viettel Cyber Security:

Viettel Cyber Security is a subsidiary of Viettel Group and is responsible for in-depth research, development, and consulting on cybersecurity solutions. Viettel Cyber Security is a leading partner in Vietnam in ensuring information security for critical national infrastructure and a variety of organizations and businesses, spanning diverse sectors such as banking, energy, electricity, oil and gas.

The company provides an ecosystem of diverse products and services with the most advanced technology, offering flexible deployment options. This includes 24/7 information security monitoring and incident response services (SOC), information security assessment and testing services (Pentest), cybersecurity solutions such as VCS-Threat Intelligence (cybersecurity knowledge update solution), VCS-aJiant (anomaly monitoring solution on workstations), VCS-F2DR (financial fraud detection and response solution), and VCS-CyCir (network security coordination, automation, and response solution).

Source : Viettel Named Champion of the World's Largest Hacking Competition

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This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network

High-dose Jeuveau, with a dosage double that of the existing 20 units, has succeeded in Phase 2 clinical trials as ‘Extra Strength’ Demonstrating a proven long-term efficacy of 6 months—double the treatment cycle of competing products—Jeuveau enhances global product competitiveness

SEOUL, South Korea, Nov. 8, 2023 /PRNewswire/ — Daewoong Pharmaceutical is proud to announce the successful completion of a Phase 2 clinical trial for its botulinum toxin type-A product, NABOTA, commercially known as Jeuveau in the United States. This pivotal trial achieved its primary endpoint, demonstrating that a high dose of 40 units of Jeuveau can effectively treat glabellar lines with long-term efficacy lasting up to 26 weeks, or 6 months.

The Phase 2 study, focusing on "Extra Strength" treatment for glabellar lines, was a multicenter, double-blind, randomized trial conducted across five study sites in the United States. It involved 150 participants with moderate to severe glabellar lines, as assessed by the subject and medical professionals using the Glabellar Line Scale (GLS).

These findings mark a significant achievement for Daewoong Pharmaceutical and its partner, Evolus. The results were presented at the prestigious American Society for Dermatologic Surgery (ASDS) conference in Chicago on October 3rd.

Sung-Soo Park, Vice President of Daewoong Pharmaceutical, commented "The conclusive results from the high-dose administration in the Phase 2 clinical trials by our partner Evolus are noteworthy. We are poised to enter and compete in major botulinum toxin markets, including the United States, Europe, Canada, and Australia, leveraging our global competitiveness." He further emphasized the commitment of both companies to "continuously validate the efficacy and safety of NABOTA through ongoing clinical trials and to increase our market share worldwide."

NABOTA, which contains Botulinumtoxin Type A and is the first FDA-approved botulinum toxin from Asia, has been experiencing consistent growth. Through its partnership with Evolus, it has expanded its global reach. In Europe, where it is known as NUCEIVA, the product has been successfully launched in the UK, Germany, Austria, and Italy, reinforcing its strong market presence in both North America and Europe.

Forward-Looking Statements

This press release contains forward-looking statements that are based on the current beliefs and expectations of Daewoong Pharmaceutical’s management. Factors that could cause or contribute to such differences include, but are not limited to: (1) Regulatory and governmental approvals: The approval process for pharmaceutical products is subject to extensive regulations and may involve uncertainties and delays. Any failure to obtain necessary approvals or the occurrence of delays in the approval process could adversely affect Daewoong Pharmaceutical’s business and results of operations; and (2) Clinical trials: The success of Daewoong Pharmaceutical’s products depends on the results of clinical trials. The results of early clinical trials may not be indicative of the results of later-stage or larger-scale clinical trials.

Source : Daewoong Pharmaceutical Announces Successful 'Extra Strength' Results of US Phase 2 Clinical Trial for High-dose Administration of NABOTA

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This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network