Promoting digital payments in Vietnam

Vietnam currently leads the Asia-Pacific region in digital financial adoption. According to Mastercard's New Payments Index report, 94% of consumers have used at least one new payment method – the highest rate in the region. This growth rate demands a robust, secure, and flexible payment infrastructure to both meet market demands and support the next phase of the digital economy 's development.

The core of the strategic partnership between Mastercard and MDP is to optimize real-time payment infrastructure by leveraging Mastercard's global technological strengths and MDP's local operational capabilities. These comprehensive payment solutions are designed for scalability and interoperability, building a secure and seamless transaction environment for businesses and financial institutions to thrive in the digital age.

Representatives from Mastercard and MDP Digital Payment Joint Stock Company at the strategic partnership announcement ceremony on May 7th.

Beyond infrastructure, the two parties will promote innovation in payment products, optimize switching operations, and provide expert consulting services to meet the diverse needs of users. Through this, they will support the vision and strategic direction of the State Bank of Vietnam , prioritizing the promotion of data interoperability, enhancing digital security, and accelerating the transition to a cashless society.

Sharad Jain, Country Director of Mastercard in Vietnam, Laos, and Cambodia, shared: “With up to 70% of Vietnamese consumers prioritizing modern payment methods such as biometrics and QR codes, providing forward-thinking solutions is crucial. We are committed to building a robust ecosystem that delivers tangible benefits to businesses, citizens, and tourists, contributing to the realization of the nation’s digitalization goals.”

Speaking at the event, Mr. Phan Thanh Son, General Director of MDP, emphasized: “Cooperation with a global partner like Mastercard affirms MDP's capabilities and is an inevitable path after MDP officially launches in March 2026. We are not just stopping at connecting, but aiming to leverage Mastercard's international strengths into MDP's payment infrastructure to create secure 'payment highways', providing a seamless experience for people. This cooperation allows MDP to optimize its scale and international connectivity, contributing to elevating Vietnam's position in the regional digital economy ecosystem.”

Phoenix

Source: https://doanhnghiepvn.vn/kinh-te/tai-chinh-ngan-hang/thuc-day-thanh-toan-so-tai-viet-nam/20260509031437980