VPBank joins GTPP platform to modernize cross-border payments

Vietnam Prosperity Joint Stock Commercial Bank ( VPBank ) has officially joined the GTPP cross-border payment platform system developed by KOTRA (Korea Trade and Investment Promotion Agency) and NHN KCP (Korea Electronic Payment Company), aiming to standardize international transaction processing and enhance the safety and transparency of global cash flow. This is considered an important step in VPBank's strategy to expand its international transaction capacity, especially with corporate customers with foreign trade activities.

The goal is to dramatically increase the rate of international payment automation.

GTPP (Global Trade Payment Platform) is a specialized card payment platform for cross-border B2B transactions, developed by KOTRA and NHN KCP. This platform allows Korean businesses and international partners, especially in Vietnam, to conduct secure and simple transactions without going through complicated money transfer processes. GTPP supports the utilization of a 40-50 day card limit to improve cash flow, while applying a low fee of 1.5% that can be shared between the buyer and seller.

According to VPBank, the implementation of GTPP helps banks connect to a transaction processing network with a high level of automation, minimizing manual errors and increasing real-time reconciliation capabilities. This platform standardizes the entire payment chain according to SWIFT standards, significantly shortening transaction execution time and improving processing accuracy.

In particular, in the context of the strong increase in Vietnam-Korea trade turnover, Vietnam is currently the third largest trading partner of Korea, the need for fast, safe and transparent payment has become the top priority of businesses. Traditional methods often take a lot of time and require complicated documents, causing great pressure on capital for small and medium enterprises. VPBank's participation in GTPP will contribute to resolving long-standing concerns for import-export businesses.

*Mr. Chu Minh Tuan - Director of VPBankSME Digital Product Business Center and Payment Solutions spoke at the launching ceremony of GTPP cross-border payment platform*

“As a pioneer bank bringing the GTPP platform to Vietnam, VPBank not only introduces a new payment method but also opens a comprehensive digital journey for import-export businesses. We understand that international payments are the biggest bottleneck in the trade chain, so the VPBiz Visa Platinum solution combined with GTPP is designed to remove important bottlenecks with a payment process that takes only about two minutes, flexible credit limits, and extended grace periods. This helps businesses optimize cash flow, reduce capital costs, and improve competitiveness in the Vietnam-Korea supply chain,” emphasized a VPBank representative.

Tripartite synergy: VPBank, Visa and KOTRA create a digital trade ecosystem

In the sharing session at the launching event of the GTPP VPBiz Visa cross-border payment platform, Visa representative provided a panoramic view of Vietnam - Korea trade, emphasizing the growth drivers and opportunities for Vietnamese businesses. “Korea is currently one of Vietnam's largest trading partners, with two-way turnover reaching more than 81.5 billion USD. Key industries such as electronics, medical equipment and cosmetics are leading the growth, along with a strong shift in consumer behavior and global supply chains. These data show a wide 'field of opportunity' for SMEs, especially when combined with modern payment solutions such as GTPP for fast, safe and transparent transactions, while optimizing capital resources,” Visa representative shared.

*Visa representative said that the Vietnam - Korea market opens up great opportunities for SMEs when applying modern payment solutions such as GTPP.*

Playing an important role in the GTPP ecosystem, KOTRA affirms its mission of connecting Vietnamese enterprises with quality goods and reputable partners from Korea. With a network of more than 140,000 SMEs and 131 global offices, this organization not only guarantees suppliers but also proactively implements trade promotion activities, specialized fairs and direct connection programs. The goal is to create favorable conditions for small and medium enterprises to trade, expand markets and maximize international cooperation opportunities.

*KOTRA is ready to connect Vietnamese businesses with reputable Korean suppliers in the GTPP ecosystem.*

VPBank said it will continue to expand its infrastructure and improve its operational capacity to maximize benefits from the GTPP, while coordinating with international organizations to promptly update new practices in the payment sector. This move not only strengthens VPBank's position in the Vietnamese banking system but also lays the foundation for the bank to increase its presence in international markets.

GTPP is considered an important foundation in the process of modernizing the global banking industry when financial institutions switch to the new ISO 20022 message standard. Participating in GTPP demonstrates VPBank's commitment to updating advanced standards and investing in long-term payment infrastructure. With the orientation of becoming a leading bank in digitalization and services for corporate customers, VPBank expects this innovation to bring practical benefits to thousands of businesses, promote effective capital flow and contribute to building a transparent trading environment between Vietnam and markets around the world .

In 2025, VPBank was honored by Visa with two major awards at the Visa Vietnam Client Forum 2025, including "Leading Bank in Contactless Payment Acceptance Unit Growth" and "Pioneering Bank in B2B Solutions for Corporate Customers". This is a recognition of VPBankSME's efforts in developing comprehensive payment solutions, cash flow management and digital services for businesses, while also affirming the speed of expanding the contactless payment network and impressive growth in payment turnover.

Source: https://congthuong.vn/vpbank-gia-nhap-nen-tang-gtpp-hien-dai-hoa-thanh-toan-xuyen-bien-gioi-433091.html