Visa, VPBank, MB Launch Global Trade Payment Platform in Vietnam

Overview

Visa has partnered with VPBank (VPB), Shinhan Bank Vietnam, and MB (MBB) to launch a global trade payment platform (GTPP) in Vietnam, enabling cross-border B2B card payments for the first time in the country. The platform initially focuses on the Vietnam-Korea trade corridor, allowing Vietnamese importers to pay Korean suppliers using Visa business cards. This initiative aims to digitize cross-border payments, improve cash flow, and enhance transparency for SMEs.

Key Facts

• Visa, VPBank, Shinhan Bank Vietnam, and MB jointly launched the Global Trade Payment Platform (GTPP) in Vietnam.
• The platform supports cross-border B2B card payments, initially targeting the Vietnam-Korea trade corridor.
• Vietnam-Korea bilateral trade reached USD 86.7 billion in 2024 and is expected to hit USD 150 billion by 2030.
• Vietnam leads Asia-Pacific in B2B card usage, accounting for 8.3% of total B2B payment value at merchant outlets.
• VPBank’s VPBiz Visa Platinum card enables payment settlement in approximately two minutes via GTPP.
• MB’s Visa Hi BIZ business card offers a foreign exchange conversion fee of 1.2% on the platform.
• The platform is expected to facilitate transactions between Vietnamese firms and over 150,000 Korean export companies supported by KOTRA.

What Happened

Visa, in collaboration with VPBank, Shinhan Bank Vietnam, and MB, announced the launch of the Global Trade Payment Platform (GTPP), the first solution in Vietnam enabling cross-border B2B payments using commercial cards. The announcement was made via a press release and statements from bank executives. In the initial phase, the platform focuses on the Vietnam-Korea trade corridor, allowing Vietnamese importers to pay Korean suppliers using Visa business cards issued by the partner banks.

According to Visa, Vietnam currently leads the Asia-Pacific region in B2B card usage, with 8.3% of total B2B payment value at merchant outlets. The platform aims to digitize cross-border payments, improve cash flow, increase transparency, shorten settlement times, and expand access to global supply chains. VPBank stated that its VPBiz Visa Platinum card can reduce payment time to about two minutes, while MB’s Visa Hi BIZ card offers a foreign exchange conversion fee of 1.2%.

Market Context

Both VPBank (VPB) and MB (MBB) are listed on HOSE. As of June 28, 2026, MBB closed at VND 24,750 (+0.20%) with volume of 6.9 million shares, while VPB closed at VND 26,750 (+0.19%) with volume of 7.8 million shares. The partnership comes amid growing digital payment adoption in Vietnam and increasing trade flows between Vietnam and Korea. The platform positions both banks to capture a share of the B2B payment market, which is still largely cash-based in the region.

Strategic Significance

For VPBank and MB, the GTPP partnership enhances their digital banking offerings and strengthens their value proposition for corporate clients, particularly SMEs engaged in cross-border trade. By integrating with Visa’s global network, the banks can offer faster, more transparent payment solutions, potentially increasing transaction volumes and fee income. The focus on the Vietnam-Korea trade corridor is strategic given the high bilateral trade growth, and the platform could be expanded to other corridors, providing a scalable revenue stream. This move also aligns with the State Bank of Vietnam’s push for digital payment modernization.

What to Watch

• Adoption rate of GTPP among Vietnamese importers and Korean exporters in the initial phase.
• Expansion of the platform to other trade corridors beyond Vietnam-Korea.
• Q2 2026 earnings reports from VPB and MBB for any commentary on transaction volumes or fee income from the platform.
• Regulatory developments regarding cross-border digital payments in Vietnam.
• Potential addition of other partner banks or card types to the platform.