Author: Fintech News Vietnam

Vietnam’s VPBank is turning to China’s OneConnect to power a digital core banking system capable of handling a billion transactions a day. The new system will also be implemented at GPBank, which is wholly owned by VPBank. It is designed to cover key functions such as account opening, savings deposits, lending, payments, and customer information management. According to the companies, the platform can process up to 10,000 transactions per second and one billion transactions a day, a level of capacity they say is the first in Vietnam. The system is intended to support both individual and corporate customers nationwide with…

GIC and SoftBank Vision Fund are considering selling their stakes in VNLife in a move that could value the Vietnamese fintech at more than US$1 billion, according to Bloomberg. The two investors have appointed a financial adviser and have begun sounding out potential buyers to assess interest, people familiar with the matter told Bloomberg. The discussions are still preliminary, and there is no certainty a transaction will take place. Both GIC and SoftBank Vision Fund declined to comment. VNLife, founded in 2007, operates in Vietnam, Singapore, Myanmar and Cambodia. The company owns digital payments provider VNPay, known for operating one…

Payments solution provider BPC and Visa are bringing a new level of flexibility to Vietnam’s payments scene, allowing cardholders to toggle between debit, credit, installments, or rewards on a single card. The launch, supported by BPC’s SmartVista platform, is among the first Visa Flexible Credential rollouts in Vietnam. It allows financial institutions to issue cards that let consumers instantly choose how they want to pay, whether through debit, credit, Buy Now Pay Later installments such as pay-in-four, or by redeeming rewards points. The initiative is part of BPC’s wider collaboration with Visa to accelerate digital payment transformation across Asia Pacific,…

Da Nang has cleared Basal Pay, a crypto-to-fiat conversion platform developed by AlphaTrue Solutions JSC, to operate in the city’s controlled fintech sandbox, The Investor Vietnam reported. AlphaTrue, a member of the Vietnam Blockchain and Digital Asset Association, designed Basal Pay to comply with global standards. The platform incorporates the Financial Action Task Force’s Travel Rule, requires sender and recipient information for each transfer, and uses three levels of identity verification. It also automatically transmits transaction data and stores records for five years, giving regulators stronger oversight tools. Basal Pay allows crypto-to-fiat conversion in seconds, eliminating intermediary steps and aiming…

Vietnam’s e-commerce market is one of the most dynamic and fastest-growing in Southeast Asia, continuing its upward trajectory and showing signs of evolution and maturity. Key trends shaping the sector include the rapid adoption of “shoppertainment”, the surge in cross-border transactions, and tighter regulatory oversight to address fraud risks, protect consumers, and ensure fair competition. E-commerce surges driven by “shoppertainment” Sales on four e-commerce platforms in Vietnam, namely Shopee, Lazada, Tiki, and TikTok Shop, reached VND 202.3 trillion (US$7.8 billion) in H1 2025, representing a nearly 42% year-over-year (YoY) increase, according to data from Metric.vn, an e-commerce market research platform…

Vietnamese police in Phu Tho Province have charged 20 people over an alleged cryptocurrency fraud involving Paynet Coin (PAYN) that authorities say stole billions of dollars from victims in Vietnam and overseas, VnExpress reported. The group, led by Nguyen Van Ha, from Gia Lai Province, is accused of creating the token on a blockchain and promoting it through websites such as FMCPAY.com and AFF2024.com. Investors were promised monthly returns of 5–9 percent and referral rewards, a model police say mirrored a Ponzi scheme. Payouts came in PAYN tokens, which could be swapped for USDT and converted into cash. VnExpress said…

Vietnam’s Techcombank has confirmed the reappointment of Jens Lottner as CEO for a second five-year term, from 2025 to 2030. Lottner, who has over three decades of banking and finance experience, has spent two-thirds of his career in Asia, working with institutions including McKinsey & Company, Boston Consulting Group, and Siam Commercial Bank in Thailand. He first took on the role of Techcombank CEO in 2020, leading a digital transformation strategy that the bank says has helped position it among the region’s leading tech-driven financial institutions. In 2024, pre-tax profit rose 20.3% year-on-year to VND 27.5 trillion, while total operating…

Vietnam has launched NDAChain, a national blockchain platform designed to enhance the country’s digital infrastructure and data verification systems. It will serve as a core component of the National Data Center and is set to expand to local governments and universities by 2026. Developed by the National Data Association and operated by the Data Innovation and Exploitation Center under the National Data Center and Ministry of Public Security, NDAChain is intended to strengthen the reliability and security of government and private sector systems. It aims to address vulnerabilities in centralised data models, including exposure to cyberattacks, scalability limitations, and restricted…

FPT, a Vietnamese IT services provider, has entered into a strategic partnership with audax Financial Technology, a digital banking solutions provider backed by Standard Chartered. The collaboration aims to deliver digital banking services across Asia Pacific and the Middle East, with a revenue target of US$100 million over the next three years. As part of the agreement, FPT becomes audax’s largest regional partner, taking on development, testing, deployment, and long-term operational support. The partnership combines audax’s plug-and-play banking platform with FPT’s capabilities in cloud-native development, microservices, DevSecOps, and agile delivery. The companies aim to help financial institutions modernise legacy systems…

Brankas, an open finance platform provider, has partnered with Vietnam-based technology firm Gimasys to deliver open banking solutions for the country’s financial sector. The collaboration aims to help banks and financial institutions comply with new regulations and accelerate their digital transformation efforts. The partnership comes as the State Bank of Vietnam introduces new requirements for open APIs. Brankas brings its open finance infrastructure and security expertise, while Gimasys contributes deep local market knowledge and experience integrating core banking systems. The joint platform will support automated payment flows, API lifecycle management, third-party partner integration, consent frameworks, and data security. It is…

Visa has introduced its Flex Credential feature in Vietnam, allowing cardholders to choose between debit, credit, and other payment options using a single card. Asia Commercial Joint Stock Bank (ACB) is the first in Vietnam and Southeast Asia to roll out the solution, with VIB set to follow soon through its MyVIB app. Available via the ACB One app, the feature enables users to switch between payment types depending on their needs. Beyond debit and credit, Flex Credential can also support loyalty point redemption and, in some markets, access to multiple currency accounts through a single card. Visa said more…

Vietnam has formally recognised digital assets under a newly passed law aimed at supporting the country’s digital transformation and regulatory clarity in emerging technologies. As reported by The Investor Vietnam, the National Assembly approved the Law on Digital Technology Industry on 15 June. The legislation introduces a legal framework for digital assets, including crypto, and is set to take effect on 1 January 2026. Under the law, digital assets are divided into two categories: virtual assets and crypto assets. Virtual assets are defined as digital instruments used for exchange or investment, excluding securities, digital fiat currencies, and other financial instruments…

Although securities trading is still relatively new in Vietnam, more users are turning to wealthtech and investment platforms, signaling growing interest in digital finance. Huy Nghiem, Founder and CEO of VNSC by Finhay (formerly Finhay), shared this trend in a conversation with The On Call Podcast by Insignia Ventures Partners, a leading Southeast Asian VC firm. He highlighted that adoption of fintech has accelerated significantly since 2020, particularly during the COVID-19 pandemic. “Back in 2017, cash dominated all transactions. Today, digital payments, including bank transfers, cards, QR codes, are the norm,” he said. “Vietnam is transforming very fast.” Nghiem linked…

Visa has introduced its issuer-offered Click to Pay solution to the market. Several banks in Vietnam, including Military Commercial Joint Stock Bank, Vietnam Technological and Commercial Joint Stock Bank (Techcombank), JSC Bank for Foreign Trade of Vietnam (Vietcombank), Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank), and Vietnam Prosperity Joint-Stock Commercial Bank (VPBank), have been early adopters of the service. For Techcombank and VPBank, Visa cardholders can begin using the solution immediately. On the acceptance side, Click to Pay has been adopted by Ngan Luong Payment Gateway JSC (Alepay Gateway), VietUnion Online Services Corporation (Payoo), Sacombank, and VietinBank.…

AEON Financial Service has claimed its agreement to acquire Post and Telecommunication Finance Company Limited (PTF) is invalid after discovering “inappropriate accounting transactions” at the Vietnamese finance company. The discovery was made during the post-merger integration process following the acquisition of PTF from Southeast Asia Commercial Joint Stock Bank, known as SeABank. The Japanese financial services company announced on 6 June 2025 that it had notified SeABank of its claim that the equity transfer agreement is invalid. The accounting issues were uncovered after AEON Financial completed the acquisition of PTF on 3 February 2025, making it a consolidated subsidiary wholly…

Vietnamese e-wallet Zalopay has partnered with Cake Digital Bank by VPBank to integrate a suite of financial services into its mobile app. Users will be able to access Cake’s credit cards, loans, and savings services directly through the Zalopay app, without needing to leave the app. The process to open a Cake credit card is fully online and requires only a national ID. Users can reportedly obtain a virtual card within minutes and begin using it immediately for online purchases. They can also apply for Cake’s Fast Loan with near-instant disbursement, or open savings accounts that support low entry amounts…

Vietnamese financial services firm F88 has secured a US$30 million loan from London-based investment platform Lendable, DealStreetAsia has learned. This is reportedly the largest single financing deal Lendable has extended to a Vietnamese company to date The three-year facility builds on a funding relationship established in 2022 and 2023, when Lendable extended multiple loans ranging from US$5 million to US$10 million. With the latest agreement, Lendable’s total financial commitment to F88 now nears US$70 million. Headquartered in Hanoi and backed by private equity investors, F88 has been strengthening its capital base as it prepares for a public listing. The firm…

Vietcombank has begun implementing a suite of Salesforce solutions to support its digital transformation, aiming to streamline operations and improve customer engagement across its retail and corporate banking services. The Vietnamese lender is deploying Salesforce’s Financial Services Cloud, CRM Analytics, Marketing Cloud, and MuleSoft as part of its efforts to consolidate banking functions onto a single platform. The implementation is supported by PwC, Gimasys, and CMC TS. By integrating these technologies, Vietcombank aims to improve operational efficiency and provide its relationship managers across the bank with a unified view of customer data. The bank said the platform will help enhance…

The National Payment Corporation of Vietnam (NAPAS) and Mastercard, in collaboration with six Vietnamese banks, have launched the country’s first co-badged payment card. The new product allows users to make transactions both locally and abroad using a single card. The participating banks are Agribank, BIDV, TPBank, Nam A Bank, PVcomBank, and Vikki. The launch follows a memorandum of understanding signed in October 2024 between Mastercard, NAPAS, and nine Vietnamese banks to expand digital payment services in the country. By combining Mastercard’s global acceptance network with NAPAS’s local infrastructure, the co-badged card aims to meet growing demand for seamless payments across…

Vietnam’s government has approved a two-year pilot programme to test peer-to-peer (P2P) lending, credit scoring, and open API-based data sharing, according to Vietnam News. Outlined under Decree 94 issued on 29 April, the initiative introduces a regulatory sandbox for fintech innovations in the banking sector, set to begin on 1 July. The pilot is designed to evaluate emerging financial technologies under controlled conditions while balancing innovation with risk management. P2P lending will be central to the trial, enabling borrowers and lenders to connect directly via digital platforms without the involvement of traditional banks. Only firms licensed by the State Bank…