Author: Fintech News Vietnam

FPT has launched an ASEAN Salesforce Center in Hanoi to help financial institutions in Vietnam test and deploy practical data and AI applications. Developed with Salesforce, the center is located at FPT Tower and will serve as a space for banks to explore real-world use cases, train teams, and develop new applications. The facility is focused on Vietnam’s banking sector but is also intended to support wider adoption across ASEAN. The ASEAN Salesforce Center will showcase use cases across the customer journey. These include digital onboarding for account opening and credit activation, AI-driven financial recommendations based on spending patterns, and…

OKX and HashKey Capital are investing in Vietnam Prosperity Crypto Asset Exchange, or CAEX, as it seeks to join the Vietnamese government’s pilot programme for regulated digital asset trading. The investment amount was not disclosed. The two firms are joining CAEX as strategic partners alongside founding shareholders VPBank Securities and LynkiD. They will inject capital in April 2026 to help CAEX meet the VND 10 trillion, or about US$380 million, minimum charter capital requirement. This is needed for the exchange to take part in the five-year regulatory sandbox under Government Resolution 05/2025/NQ-CP. The investment comes as Vietnam moves to formalise…

Vietnam’s MoMo is considering whether to bring in new investors, with Reuters reporting that preliminary discussions could value the company at more than US$2 billion. The talks are still at an early stage and there is no certainty that they will lead to a deal. The fintech has hired Jefferies and Morgan Stanley to help manage the process after attracting interest from strategic and financial investors. MoMo and Morgan Stanley did not immediately respond to requests for comment, while Jefferies declined to comment. Launched in 2010, MoMo has expanded from mobile payments into a broader financial services platform that includes…

Vietnam’s NAPAS has expanded QR payment connectivity with China, giving Chinese tourists a new way to pay at local merchants. The move was made possible through a partnership between NAPAS, Ant International and Vietcombank. Under the rollout, Chinese visitors can use Alipay to scan VIETQRGlobal codes and pay at participating merchants in the NAPAS network across Vietnam. The payment option is available at shopping malls, retail stores, restaurants, hotels and tourist attractions. The transactions run through the linked infrastructure of NAPAS and Ant International, with Vietcombank serving as the settlement bank and supporting payment processing between the Chinese yuan and…

Vietnam has introduced a 0.1 percent tax on crypto transactions as it seeks to move more trading onto licensed local platforms under a new market pilot, The Business Times reported. Circular 32 applies a 0.1 percent personal income tax on each crypto transaction by individuals, regardless of residency from 27 March. Foreign organisations trading through licensed service providers in Vietnam will face a similar 0.1 percent corporate tax on transaction value. Domestic companies earning income from crypto transfers, as well as local firms providing crypto-related services, will be taxed at 20 percent on profits after deducting costs and related expenses.…

MobiFone Digital Payments Joint Stock Company has launched in Vietnam with plans to develop digital payment infrastructure in the country. The Hanoi-based company is backed by MobiFone Telecommunications Corporation. It is licensed by the State Bank of Vietnam to provide intermediary payment services covering financial switching, electronic clearing, payment gateway services, and collection and payment support. MDP has already partnered with more than 20 member institutions, including Vietnamese banks and financial institutions, and announced a collaboration with Visa at its launch event. Prior to its official launch, MDP signed a MoU with the National Payment Corporation of Vietnam, or NAPAS,…

2C2P has been engaged by M-PAY to provide technical payment services for Sun PhuQuoc Airways in Vietnam, with other Asian markets set to follow. The partnership will allow customers booking Sun PhuQuoc Airways flights online in Vietnam to access a broader range of payment options. Other markets in the pipeline include China, Malaysia, India, Singapore, South Korea and Thailand. M-PAY will provide the airline with Payment Air Controller, or PACO, a payment orchestration system for airlines. The platform supports payment methods including cards, digital wallets, QR payments and direct debit. Through a single API integration, the system can route payments…

Five companies are in the running to set up Vietnam’s first licensed crypto exchanges, Reuters reported, citing a Finance Ministry document. Those named include affiliates linked to Techcombank, VPBank and LPBank, alongside VIX Securities and Sun Group. Sun Group and VPBank said they had submitted applications, while the Finance Ministry did not comment on the list. The applications come as Vietnam moves to test a domestic crypto exchange model and considers new restrictions on trading through foreign platforms. The proposed changes would mark a significant shift for a market where many users still trade through offshore exchanges. Vietnam placed fourth…

Financial infrastructure firm Tala has partnered with CIMB in a US$100 million programme to roll out digital credit services in Vietnam, marking its latest expansion in Southeast Asia following its growth in the Philippines. The partnership will see Tala and CIMB offer digital lending products to consumers with limited access to traditional credit, as gaps in formal lending persist despite high digital account usage in the country. Eligible customers will be able to apply for a flexible line of credit through Tala’s mobile application, with limits of up to VND 30 million (approximately US$1,150) and tenors of up to 61…

Pranav Seth has been appointed Chairman of Techcom General Insurance, taking up the role in January 2026. In a LinkedIn post, Seth said he plans to focus on strengthening the relationship between insurance and healthcare in Vietnam, as the country advances its digital and health technology agenda. He also said the company aims to create material impact for millions by rethinking how insurance products and services are designed and delivered. Seth said Techcom General Insurance will draw on Techcombank’s digital and data capabilities, as well as partnerships in health technology, to support this direction. He joins the insurer after serving…

Vietnamese payment provider 9Pay is piloting a stablecoin-to-QR payment gateway under the Vietnam International Financial Centers regulatory sandbox. U.S. users can make payments in Vietnam by scanning local QR codes using fintech apps, e-wallets and stablecoin applications. The company said the pilot is designed to simplify cross-border transactions. It removes currency conversion at the point of sale and routes payments through stablecoin-enabled rails integrated with Vietnam’s regulated payment infrastructure. 9Pay is one of the first ten participants in the sandbox. The framework operates under the Vietnam IFC in Danang and Ho Chi Minh City. It allows licensed domestic and foreign…

Crypto firms looking to operate in Vietnam’s pilot digital asset market will need a minimum paid-up capital of VND 10 trillion (approximately US$400 million). The requirement is set out in a decision issued by the Ministry of Finance, which outlines how licences for crypto asset trading market operators will be granted, amended or revoked. The move follows the government’s resolution on piloting the crypto asset market and places regulatory oversight with the State Securities Commission. Only Vietnamese-incorporated companies structured as limited liability companies or joint stock companies can apply. At least 65 percent of charter capital must come from institutional…

Vietnamese consumers are favoring digital channels and social commerce for their Tet shopping, leveraging e-commerce platforms, social media, and messaging apps, to discover products, gather information, and make purchases. This trend underscores the profound shift in consumer shopping habits fueled by the rise of the digital economy, according to a new consumer study by market research agency Decision Lab. Tet, Vietnam’s lunar new year, is the country’s biggest cultural and economic period in the year. While the holiday is traditionally centered on giving and togetherness, consumer behavior has evolved far beyond a mere pre-holiday shopping rush. Spending now stretches across…

Ho Chi Minh City (HCMC) is preparing to put its international financial center (IFC) into operation, with organizational and staffing arrangements largely finalized, Saigon Giai Phong, a Vietnamese Communist Party newspaper, reported on November 22, 2025, citing HCMC People’s Committee Chairman Nguyen Van Duoc. The IFC will be located in Saigon Ward, Ben Thanh Ward, and the Thu Thiem Urban Area in An Khanh Ward, covering a total area of nearly 900 hectares. It will be equipped with high-speed Internet network covering the entire IFC venue, while the municipal Department of Science and Technology currently building an online information portal…

Vietcombank, Military Bank (MB), and Vietnam Technological and Commercial Joint Stock Bank (Techcombank) remain the top three banks in Vietnam for the mass affluent and the affluent segments, ranking highest by high-value banking customers, according to a study by market research agency Decision Lab. The 2025 Decision Lab Best Future Wealth Bank Ranking, which uses the YouGov BrandIndex Score to reflect overall brand health based on impression, quality, value, satisfaction, recommendation, and reputation, identifies Vietnam’s mass affluent as those with a net personal income from VND 15 million (US$569) to VND 50 million (US$1,900) per month, or total investable assets…

VPBank, one of Vietnam’s top five private commercial banks, has completed a major upgrade of its core banking system to the latest Temenos platform, supported by Systems Limited and hosted on Red Hat OpenShift. The modernisation project, which migrated more than 18 million customer accounts and millions of loan records for its customer base of over 17 million, was completed within a single cutover window of less than 24 hours. The move transitions VPBank to a fully cloud-native environment, enhancing scalability, agility, and operational efficiency while reducing IT overheads. The upgraded system enables the bank to launch products more quickly,…

Once a cash-dominant country, Vietnam has evolved significantly over the past seven years, with digital payment methods including digital wallets, QR codes, and account-to-account (A2A) transactions becoming increasingly popular, a new report by AppotaPay, a Vietnamese payment company, says. The report, which looks at payment trends across Asia-Pacific (APAC), finds that the majority of Vietnamese consumers (59%) now prefer cashless payments, citing convenience, safety and theft prevention, as well as better financial management as key reasons. QR codes, in particular, are the favored method, with 62% of consumers using them to transact an average of 16.2 times per month. These…

Vietnam’s long-awaited digital asset trading pilot has yet to attract a single applicant, with the Ministry of Finance confirming that no companies have formally sought approval to join the program, according to The Investor Vietnam. Deputy Finance Minister Nguyen Duc Chi said several enterprises are showing interest by expanding their business scopes to include digital assets, but none have submitted official proposals. Under the government’s framework, only up to five participants will be allowed to join the pilot. He added that the ministry is finalising procedures to identify qualified applicants and issue the first licences. Chi said the government hopes…

Vietnam’s central bank is ordering banks to report every domestic transfer of VND500 million or more starting this November to tighten its anti-money laundering oversight, according to a report by The Investor Vietnam. The new rules also cover cross-border payments, requiring transactions of US$1,000 or higher to be reported to regulators. Financial institutions have until the end of December to adapt their internal systems and processes before full compliance takes effect on January 1, 2026. The State Bank of Vietnam (SBV) said the new measures are designed to bring the country’s banking system in line with international standards on anti-money…

Vietnam has launched its first nationwide pilot for a regulated crypto asset market, imposing strict frameworks on issuance, trading and related services over a five-year period starting 9 September 2025. According to the Government Electronic Newspaper of Vietnam, the scheme requires all offerings, trades, payments and settlements to be conducted in Vietnamese Dong through entities licensed by the Ministry of Finance. The pilot applies to licensed service providers, issuers, and both Vietnamese and foreign investors. Issuers must be Vietnamese companies structured as limited liability or joint-stock enterprises, and crypto assets must be backed by real assets, excluding securities or fiat…