Visa and MISA to collaborate on digital payment solutions

The collaboration marks a significant step towards accelerating digital transformation within Vietnam's business community, fostering greater financial inclusion and operational efficiency for enterprises of all sizes.

Vietnam's dynamic business environment presents both challenges and opportunities for companies. The upcoming VAT law, effective July 1, underscores the increasing need for efficient, transparent, and compliant financial management solutions. Visa and MISA share a common vision of empowering Vietnamese businesses with the tools and resources they need to succeed.

The collaboration will focus on several areas, including the promotion of digital payment adoption among businesses and government entities, thereby enhancing transparency and efficiency. Visa's corporate card solutions will streamline payment processes and improve reconciliation. Furthermore, Visa will collaborate with JETPAY (a subsidiary of MISA) to develop a Business Payment Service Provider platform.

Another key area is upskilling and capacity building. Visa and MISA will jointly develop and implement training courses, consulting services, and technical support initiatives. These initiatives will enhance businesses' understanding of digital payment methods and the role of credit cards in managing business cash flow.

In terms of data collaboration and financial inclusion, Visa and MISA will work with bank partners to develop advanced payment services. This includes leveraging AI in data processing and credit appraisal, helping businesses shorten the time to access capital.

The two sides also offer support for new tax regulations. Recognising the impact of the new VAT law, Visa and MISA are committed to providing tools and solutions to help businesses transition to digital payments, manage documentation efficiently, and ensure compliance.

"We are committed to driving financial inclusion and innovation in Vietnam and this partnership combines Visa's global expertise in payments with MISA's profound understanding of the Vietnamese business landscape to deliver transformative solutions that help businesses thrive in the digital economy," said Dung Dang, country manager of Visa Vietnam and Laos.

Le Hong Quang, CEO of MISA, added, "This collaboration allows us to leverage Visa’s top-tier payment technology to create integrated solutions that are tailored to the unique needs of our customers. Together, we will empower Vietnamese businesses to embrace digital payments, streamline their financial processes, and achieve sustainable growth."

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