In an era where small and medium enterprises (SMEs) face increasing challenges in accessing capital, managing costs, optimizing processes, and embracing digital transformation, a new financial solution is emerging in Vietnam. The collaboration between VIB, Visa, and VNPAY has led to the introduction of a comprehensive financial and digital ecosystem designed specifically for SMEs.
On March 25, 2025, Prime Minister Nguyen Xuan Phuc signed Directive No. 10/CT-TTg, aiming to boost the development of SMEs in Vietnam. The directive sets an ambitious goal of creating at least one million new businesses by 2030, emphasizing the need for improved infrastructure, financial accessibility, and human resources for these enterprises. Recognizing the vital role that SMEs play in the Vietnamese economy—accounting for 98% of total businesses and contributing over 50% of GDP—this initiative is crucial for sustainable growth.
VIB's new financial solution is built on the strengths of its banking services, Visa's global payment network, and VNPAY's technological capabilities. This integrated product suite includes three key offerings: the VIB Business Card, VIB Business Loan, and VIB Business digital banking. Each component is tailored to meet the diverse needs of SMEs, from capital acquisition to effective cost management and streamlined payment processes.
“Understanding the pivotal role of SMEs in Vietnam's economy and the significant challenges they face regarding capital access and financial management, VIB has designed a comprehensive financial solution to accompany and optimize benefits for the SME community,” said Ho Van Long, Deputy General Director and Director of Retail Banking at VIB. He emphasized that this ecosystem of integrated financial products aims to facilitate capital flow, optimize cash flow, and support digital transformation.
The VIB Business Card stands out with its attractive features, offering a credit limit of up to 1 billion VND and an interest-free period of up to 58 days. Additionally, businesses that spend over 500 million VND per year per card will enjoy unlimited lounge access and FastTrack services for cardholders. This card not only serves as a payment tool but also acts as a valuable management assistant, providing real-time transaction updates through the VIB Business digital banking app.
For businesses seeking to enhance their working capital, VIB offers a Business Loan package with a maximum loan limit of up to 150 billion VND, featuring competitive interest rates starting from just 6.7% per year. This timely and ample funding enables companies to be proactive in their production and business activities, seizing market expansion opportunities.
Moreover, the VIB Business digital banking platform simplifies account management and transaction processing, allowing business owners to operate anytime and anywhere. The platform includes features such as spending limits and expenditure management tailored to the company's authorization system, ensuring efficient oversight of financial activities.
In collaboration with Visa and VNPAY, VIB is also promoting digital transformation for SMEs through various comprehensive digital solutions. Visa's Business Payment Solution (BPSP) on the VNPAYB2B platform allows VIB cardholders to make payments to any payment account, even if the recipient has not enabled card acceptance. This capability enhances cash flow by providing attractive discounts for early payments, improving expenditure control, and reducing operational tasks through digital processes.
Additionally, VNPAY Invoice and VNeDOC offer solutions for managing electronic invoices and digitizing contracts, respectively. These tools not only optimize business operations but also ensure compliance with regulations, enhance security, and significantly reduce costs associated with paper invoices.
“Visa is committed to supporting the growth and success of SMEs in Vietnam, which are the backbone of the economy. Our collaboration with VIB and VNPAY brings a robust financial and digital solution that meets the specific needs of businesses,” stated Dang Tuyet Dung, Director of Visa Vietnam and Laos. She highlighted the importance of advanced payment technologies and effective financial tools in empowering SMEs to thrive in the digital era.
Tran Manh Nam, Director of the Enterprise Division at VNPAY, noted that “digital transformation is a quick, efficient lever for SMEs. VNPAY's technology platform, with solutions like VNPAY Invoice, VNeDOC, and VNPAYB2B, plays a crucial role in digitizing core operational processes. Integrating these solutions into the financial ecosystem of VIB and Visa will create a synergy that helps SMEs realize their digital transformation comprehensively and effectively.”
The introduction of this financial and digital solution from VIB, Visa, and VNPAY is expected to be a significant support for Vietnamese SMEs. By optimizing operations across all major areas—from financial management and cost control to sales and internal processes—this initiative aims to foster robust and sustainable growth in the new digital era.
As the Vietnamese economy continues to evolve, the emphasis on supporting SMEs cannot be overstated. With the right tools and resources, these businesses can navigate the complexities of modern commerce and contribute to the overall economic prosperity of Vietnam. The collaboration between VIB, Visa, and VNPAY represents a promising step towards empowering SMEs to thrive in an increasingly competitive landscape.
