Support businesses to spend and manage more transparently
According to many economic experts, the above activities also contribute to strongly implementing policies to support businesses, especially small and micro enterprises and business households according to Resolution 68-NQ/TW (May 2025) and related regulations.
These include digitizing processes, providing free digital platforms and accounting software, providing legal advice, training, and facilitating financial conditions to promote private economic growth.
The latest research commissioned by Visa and KoreFusion shows that Vietnamese businesses are leading the Asia- Pacific region in the use of corporate cards in B2B payments (monetary transactions between two businesses to buy or sell goods or services). The card payment rate in Vietnam reached 8.3% of total B2B sales at card-accepting suppliers, the highest in the region and more than double the average of 3.3%.
Talking to reporters of Tin Tuc and Dan Toc newspaper, Mr. Nguyen Xuan Cuong, Deputy Director of MB Digital Banking Division, said that MB currently accompanies more than 460,000 businesses through the BIZ MBBank platform, processing billions of digital transactions each year. With this scale, the bank understands very well what businesses are facing in terms of cash flow pressure, operating costs, internal management, especially the increasingly complex requirements of cross-border trade.
With the MB Visa Hi BIZ card, businesses will not have to open multiple accounts or keep multiple cards. One card can be used to spend from the account and from credit when needed; clearly separating the company's card spending and the business owner's card. "Individuals in the business do not have to use personal cards for business activities such as advertising, business trips, and entertaining customers, then have to collect invoices and documents to settle with the company. This is very important for accounting and internal financial control," said Mr. Nguyen Xuan Cuong.
Specifically, according to Mr. Nguyen Xuan Cuong, the obvious point is the "direct refund on advertising spending". Accordingly, businesses still "run ads", run paid ads on online platforms Google, Facebook or TikTok, but will be refunded up to 30 million VND per year. This is a significant cost reduction for the advertising industry, where media budgets are often high. Not only that, the foreign currency conversion fee is only 1.2% (the best fee on the market today), which is very beneficial if businesses regularly run ads or buy creative resources in USD.
According to the Deputy Director of MB Digital Banking, with MB Visa Hi BIZ, businesses can issue cards to each employee and department. MB empowers businesses to "tailor" and control the limit of each card, meaning that the business representative can set a separate limit for each card; at the same time, increase or decrease the limit, control spending, check transaction history statements or even request additional issuance, or lock or unlock cards, all empower businesses to proactively authenticate online on BIZ MBBank.
The biggest breakthrough is the integration of the Global Trade Payment Platform (GTPP) developed by Visa and KOTRA, allowing businesses to make direct payments to Korean partners within the day, a completely digital process. Through GTPP, Vietnamese businesses can connect directly with a network of more than 140,000 Korean small and medium enterprises (SMEs).
According to KOTRA, this solution will standardize Vietnam-Korea trade activities, reducing the burden of documents, which is a major obstacle for SMEs. Specifically, it will significantly shorten the time compared to the traditional international money transfer method, which requires 3-5 days and many document procedures.
Recently, MSB Bank also announced its strategy for the high-income customer segment (Affluent) and launched the MSB Mastercard Green World credit card with the message "Essence of the green journey".
Accordingly, customers are given priority credit limit of 150 billion VND, super-fast approval within 8 hours and attractive profit yield (5.8%/year) plus savings interest rate. In addition, Affluent customers enjoy privileges of an upgraded lifestyle with high-end card lines with "Essence of quality of life" or experiences of Academic Music, Private concerts, MSB Rewards of "Essence of consciousness" and specialized services ensuring absolute convenience with priority counters and maximum M-Private security system...
In terms of design, the core of the MSB Mastercard Green World card is made from unique recycled materials, ensuring high durability and environmental friendliness. “The travel cashback program of up to 24 million VND/year is the most prominent highlight of the card, promoting the habit of using vehicles and forms of transport with low carbon emissions,” said an MSB representative.
According to VIB Bank, in the context of the booming digital economy, business households and small and medium enterprises (SMEs) in Vietnam are transforming strongly, from traditional models to digital operations.
To solve the bottlenecks in cash flow, working capital and short-term financial costs, especially during the peak holiday season, when the demand for shopping, stockpiling goods and paying employees increases sharply, VIB and Visa have also launched a comprehensive financial solution package for supply chains in Vietnam.
Accordingly, VIB Business Card (Visa) is designed as a short-term capital source for SMEs, with a limit of up to 1 billion VND and an interest-free period of up to 58 days, helping businesses proactively source short-term capital, optimize financial costs and ensure uninterrupted business operations.
The card offers flexibility with the option to accumulate unlimited reward points or waive annual fees for life; and allows opening unlimited supplementary cards to meet diverse operational needs according to business scale. “When reaching a spending level of 500 million VND/year, cardholders will be entitled to unlimited free use of business lounges,” said a VIB representative.
According to recent statistics, a series of banks have recorded strong growth in the credit card segment. VPBank continues to maintain its leading position, with more than 1.7 million cards in circulation by the end of 2024, and in one year alone, this bank issued more than 500,000 new cards, a scale that many banks have to accumulate for decades to achieve. Similarly, Techcombank, Sacombank and VIB also entered the "million card" bank group, showing the rapid expansion of card usage demand in the context of increasingly popular digital payments.
Security is always our top priority
Sharing with reporters of Tin Tuc and Dan Toc Newspaper, Ms. Dang Tuyet Dung, Director of Visa Vietnam and Laos, said that the combination of superior financial solutions from several banks and Visa technology platform helps businesses not only meet new regulations on cashless transactions for VAT refunds but also control cash flow.
“Security is always a top priority for Visa. We continue to improve security technologies such as EMV chip card technology, biometric transaction authentication and data encryption. Visa also works closely with partners and banks like MB to ensure that electronic transactions are maximally protected,” said Ms. Dang Tuyet Dung.
However, some customers are wondering about the security when card payment transactions are successful but do not receive the OTP code.
Ms. Thuy Linh (Hanoi) shared that she had just opened a credit card at a bank. The first time she paid for goods, although she did not receive an OTP code notification via text message, she was still able to make the transaction. "I was very surprised because up to now, all transactions via card or via the bank app have received an OTP code for the transaction to be successful. Therefore, I am very worried whether my card is faulty or not?", Ms. Thuy Linh wondered.
Responding to this issue, Ms. Dang Tuyet Dung explained that with new payment technologies, the data in each transaction is very large, up to more than 150 different data (information) transmitted between participating parties such as the issuing bank or card accepting unit. This amount of data is used to assess the level of risk and identify unusual signs based on customer behavior.
According to the organization's representative, some banks are now applying a risk scoring mechanism, so transactions assessed as low risk can be processed without requiring SMS OTP. Some markets in the region have restricted the use of OTP codes and moved to an automated risk assessment model to simplify the payment process.
A recent report by the State Bank of Vietnam (SBV) shows that since the application of biometrics and data cleaning, the number of personal accounts receiving fraudulent money has decreased by more than 50%. However, scammers tend to switch to scamming using the accounts of organizations and businesses. Therefore, users need to be extremely vigilant.
Another solution that the State Bank is implementing is a management information system to support fraud prevention. Accordingly, from information collected by competent authorities and reports from commercial banks, the State Bank receives and shares it with banks.
The system has been tested since April, applied to 5 commercial banks with initial positive results. Specifically, about 1.5 million transactions have received warnings, leading to 490,000 cases of not continuing transactions with an amount of about 1,800 billion VND...
Source: https://baotintuc.vn/kinh-te/bung-no-thi-truong-the-ho-tro-doanh-nghiep-nho-va-vua-20251120152847698.htm
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