Mastercard and MobiFone to accelerate digital economy

This milestone marks a significant step in anticipating digital transformation needs by delivering secure, innovative, and future-ready solutions. It ensures seamless connectivity between Vietnam’s domestic payment network and Mastercard’s global payment system, creating growth momentum for the national digital economy.

Vietnam currently leads the Asia-Pacific region in digital financial adoption. According to the latest Mastercard New Payments Index, 94 per cent of Vietnamese consumers are already using at least one emerging payment method, the highest rate in Asia-Pacific. This rapid adoption requires a robust, secure and flexible payments infrastructure to meet current market demands while supporting the next phase of the country’s digital economy.

At the core of the Mastercard-MDP strategic collaboration is the optimisation of real-time payment infrastructure by combining Mastercard’s global payment technology expertise and MDP’s strong local operational capabilities. These comprehensive payment solutions are designed with high scalability and interoperability, helping to build a safe and seamless transaction environment for businesses and financial institutions to achieve breakthroughs in the digital age.

Beyond infrastructure, the two parties will drive innovation in payment-related products, optimise switching operations, and provide expert consulting services to support diverse user needs. Through this collaboration, Mastercard and MDP will support the State Bank of Vietnam’s vision and strategic direction, with a focus on strengthening data interoperability, enhancing digital security, and accelerating the transition towards a cashless society.

“Mastercard is proud to establish this strategic collaboration with MDP, focusing on advancing the digital payments and financial infrastructure necessary to accelerate Vietnam’s digital economy. With 70 per cent of Vietnamese consumers preferring innovative payment methods such as biometrics and QR codes, the need for future-ready solutions is clear. Through this collaboration, we are committed to building a strong ecosystem that delivers tangible benefits for businesses, consumers, and tourists, ultimately supporting the country's national digital goals,” said Sharad Jain, country manager for Vietnam, Laos and Cambodia, Mastercard.

Speaking at the event, Phan Thanh Son, CEO of MDP, shared, “Collaborating with a global organisation like Mastercard affirms MDP’s capabilities and represents an inevitable roadmap following MDP’s official launch in March 2026. We are not merely stopping at connectivity; our goal is to synergise Mastercard’s international strengths with MDP’s payment infrastructure to create secure ‘payment highways’ that deliver seamless experiences for the public. This collaboration allows MDP to optimise its scale and international connectivity, contributing to elevating Vietnam’s position within the regional digital economic ecosystem.”

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