Author: Fintech News Vietnam

Techcombank is weighing BNP Paribas and KB Kookmin as potential strategic investors in a deal that could reach US$2 billion, according to an exclusive Reuters report. The French and South Korean banks are separately discussing the acquisition of a stake of at least 15% in the Vietnamese lender, according to two people familiar with the matter. Neither discussion has produced a formal agreement and both could end without a transaction. The sources expect Techcombank to choose no more than one of the prospective investors. Foreign Ownership Rules Could Shape the Deal Overseas shareholders already own approximately 20.5% of Techcombank, while…

Vietnam’s Sacombank has upgraded the infrastructure behind its retail and small business banking services. The bank moved to the latest version of the Temenos Core Banking platform, shifting from an on-premises deployment to a hybrid cloud environment running on Red Hat OpenShift and IBM Power infrastructure. The system serves millions of customers and processes 13 million transactions daily. Temenos reported that the upgrade improved application performance by 200%, made deployment cycles three times faster and reduced Sacombank’s server footprint by 50%. “The upgrade of our Temenos Core Banking platform is an important milestone in SACOMBANK’s digital transformation journey. With a…

MoMo is expanding the international use of its e-wallet as it adds more services for customers travelling outside Vietnam. Its QR payment function is now available in over 60 markets, according to company information reported by VnExpress. MoMo puts its overseas acceptance network at more than 100 million locations. The service operates through connections with payment systems such as Napas, Alipay, WeChat Pay, PayPay and PromptPay. Supported destinations include China, Japan, Singapore, South Korea and Thailand. Before completing a purchase, customers can scan an eligible merchant code and view the currency conversion rate in the app. MoMo says it does…

Grab has been hit with a VND 1.36 billion fine, about US$52,000, in Vietnam over failures in consumer data and disclosure practices. Vietnam’s National Competition Commission imposed the penalty over six breaches of consumer protection regulations, according to Vietnam Plus. One breach concerned data consent, with users not given a choice over whether their information could be used for sharing or disclosure to third parties. The regulator also identified two issues with Grab’s general terms and conditions, including prohibited provisions and the absence of a clearly stated effective date. Grab was also cited for failing to disclose sponsorship involving influencers…

TerraPay is connecting HDBank customers in Vietnam to overseas bank accounts and mobile wallets across more than 156 countries and territories. The partnership will enable real-time outbound international payments for the bank’s retail and small and medium-sized enterprise customers. Customers will continue initiating payments through HDBank as usual, while TerraPay will handle delivery to overseas bank accounts and mobile wallets. HDBank will access the service through its existing Swift connection, without requiring significant capital expenditure, major technology upgrades or complex integrations. Ani Sane, Co-Founder and Chief Business Officer, TerraPay said: “Banks like HDBank sit at the heart of how a…

Gojek’s ambitious expansion into Vietnam in 2018 had significant potential and made a remarkable start. However, the venture ultimately failed due to several factors, including its inability to retain its leadership team, to establish a sustainable ecosystem independent of subsidies, and to expand its product offerings at a pace comparable to emerging competitors, according to a recent analysis by Runway Ventures, a weekly newsletter that examines startup failures. The report, released in July 2026, explores GoViet’s six-year journey, which later transformed into Gojek Vietnam. It examines the company’s initial rapid growth, its subsequent failure, and its decision to exit Vietnam…

MBV is expanding its cross-border payment services through a new partnership with TerraPay. The Vietnamese bank will use TerraPay’s network to offer real-time outbound payments to overseas bank accounts and digital wallets. MBV will connect through its existing Swift infrastructure, with TerraPay supporting payouts across more than 156 countries and territories. Le Xuan Vu, CEO of MBV, said, “MBV is focused on delivering modern banking services and expanding customer access to digital financial solutions. Partnering with TerraPay empowers us to accelerate the rollout of real-time international payments without the burden of major technology investment. It’s a strategic step forward in…

TPBank has partnered with TerraPay to expand outbound cross-border payments from Vietnam. The partnership will connect TPBank customers to TerraPay’s payment network, which supports bank account and digital wallet payouts across more than 156 countries and territories. TPBank will use its existing Swift connectivity to access the network. This will allow the bank to broaden its international payment services without establishing separate bilateral arrangements in each market. Customers will continue making payments through TPBank while gaining access to more international payout options. The service is aimed at individuals and businesses sending money overseas. Nguyen Viet Anh, Deputy CEO in Charge…

Vietnam has tightened oversight of its pilot crypto market with fines reaching VND 200 million. Decree No. 284/2026/ND-CP, sets penalties for breaches involving crypto issuance, trading and related services. It takes effect on 1 September 2026 and will remain in force until the pilot framework ends. The rules apply to issuers, service providers, investors and other market participants. Organisations face fines of up to VND 200 million, while individuals generally face half the corresponding amount. Issuers may receive the maximum fine for offering crypto assets to ineligible investors, failing to meet issuance conditions or failing to publish required disclosures. Authorities…

Techcombank Chief Information Officer (CIO) Tuan Nguyen has left the Vietnamese bank after six years. Nguyen announced his departure in a LinkedIn post, stating that he ended his tenure at the end of June. He joined Techcombank in July 2020 and helped oversee its technology transformation, including the development of the bank’s digital banking and artificial intelligence capabilities. During his tenure, the bank also built new ecosystem businesses and expanded its technology and AI capabilities. Nguyen did not disclose his next role but expressed interest in working with boards, investors and executive teams in the United States and Asia. He…

MoMo has attracted interest from major global investors as it weighs new backing at a possible valuation above US$2 billion, Reuters reported, citing people familiar with the process. Blackstone, CVC Capital Partners and Japan’s MUFG are among parties pursuing a stake in the Vietnamese fintech. Binding offers are expected in September. The final stake size has not been set, though one person familiar with the process put it at up to 50%. MoMo and Blackstone declined to comment. CVC and MUFG did not respond to Reuters. Founded in 2010 as a mobile payments platform, MoMo has since expanded into lending, insurance,…

M-DAQ Global has expanded into Vietnam through METech, adding local payment infrastructure to support cross-border collections and payouts. The strategic integration is with METech, the majority shareholder of PayME, a licensed payments service provider in Vietnam. The deal gives the Singapore-based fintech group direct access to regulated payment infrastructure in Vietnam, allowing it to process collections and payouts in Vietnamese dong. M-DAQ expects this to reduce reliance on third-party partners and support faster payment flows for businesses operating in and out of Vietnam. The move supports M-DAQ’s plan to build a regional payments network covering collections, foreign exchange conversion and…

Liquid Group has launched a Vietnam-Singapore QR payment service with the National Payment Corporation of Vietnam (NAPAS) and VietinBank. The service lets users of participating Singapore payment apps linked to Liquid Group’s RoamQR network scan and pay at VietQRGlobal acceptance points in Vietnam. Payments are processed in real time, with direct currency conversion between Singapore dollars and Vietnamese dong. The launch gives Singapore travellers a familiar way to pay in Vietnam without switching to another payment app. Vietnamese merchants can also accept cross-border QR payments through their existing QR infrastructure. Jeremy Tan, Chief Executive Officer, Liquid Group, said, “Through RoamQR,…

Vietnamese credit scoring fintech Trusting Social returned to the red in 2025, even as revenue continued to rise. Trust IQ, its Singapore-registered parent, recorded a US$87.5 million net loss for the year, DealStreetAsia reported, citing filings with Singapore’s Accounting and Corporate Regulatory Authority. Trusting Social provides credit scoring and data analytics services that help financial institutions assess consumers with limited traditional credit history. The result compares with a US$33.8 million profit in 2024 and a US$31.9 million loss in 2023. Revenue reached US$23.1 million in 2025, up from US$21.2 million a year earlier and US$18.1 million in 2023. A revaluation…

Potential buyers are reviewing a stake of up to 50% in Vietnam’s MoMo, in a deal that could reshape the fintech company’s investor base, according to DealStreetAsia. Blackstone and MUFG are among five investors looking at MoMo, DealStreetAsia reported, citing people familiar with the matter. Morgan Stanley and Jefferies are advising on the process, according to the report. The talks remain at the due diligence stage, and a deal may still not materialise. If completed, the transaction could give some long-time backers a chance to cash out part of their holdings. MoMo’s reported investors include Warburg Pincus and Goodwater Capital,…

Recent talks around the block have made it clear that banks do want AI, but the latest news has now asked them, should we? In May 2026, HSBC CEO Georges Elhedery said generative AI will “destroy certain jobs” and create new ones, while urging employees not to fight the change. Standard Chartered has gone further, saying it plans to cut 15% of its corporate function roles by 2030 as it uses AI and automation to slim operations, improve productivity and lift returns. But those examples of how AI is affecting companies do not necessarily mean banks in Southeast Asia will…

Vietnam’s Orient Commercial Joint Stock Bank (OCB) has named Backbase’s AI lead Chris Shayan as Acting CEO, effective 1 June 2026. Chris previously led Backbase’s global Center of Excellence for AI in Ho Chi Minh City, which was launched in 2024 to develop AI solutions for banks. In a LinkedIn post, Chris said he will focus on building customer trust, strengthening relationships and using AI to support more personalised banking at OCB. He said AI should help banks offer more relevant support to customers at the right time, while staying within legal and compliance requirements. Chris added that his work…

UOB is teaming up with FPT to explore how AI and modern technology can reshape digital banking across Vietnam, Singapore and the wider region. Under the agreement, both companies will look at areas such as AI adoption, data analytics, automation, cloud, APIs and banking system modernisation. The collaboration will also cover digital banking platforms, payments, digital lending, embedded finance and cross-border financial services. Pilot initiatives may be developed in Vietnam and other regional markets. UOB and FPT are expected to finalise the pilot scope, implementation roadmap, governance model and expected outcomes within the next 90 days. Lawrence Goh, Head of…

Ken Wong has joined Vietnam Prosperity Joint-Stock Commercial Bank (VPBank) as Chief Data Officer and a member of its Board of Management. In his new role, Wong will lead VPBank’s enterprise data strategy, AI capability development and efforts to use data more broadly across the bank. His role covers data governance and architecture, advanced analytics, machine learning and the development of a more data-driven culture within the organisation. Wong joins VPBank after nearly five years at Visa, where he was Vice President and Head of Data Science for Asia Pacific. Before Visa, he spent more than 10 years at OCBC…

Vietnam and South Korea have launched cross-border QR payments that allow Korean users to pay merchants in Vietnam through participating e-wallets and banking apps. The service was introduced by the Vietnam National Payment Corporation (NAPAS), GLN International, BIDV and Hana Bank, following a cooperation agreement signed at the Vietnam-Korea Economic Forum in August 2025. The service allows more than 115 million users in the GLN International network, including Korean tourists and Koreans living in Vietnam, to scan VIETQRGlobal codes at hundreds of thousands of acceptance points nationwide. Transactions are processed in real time, with direct settlement between the Korean won…