Visa has launched the Global Trade Payment Platform (GTPP). It partners with VPBank, Shinhan Bank Vietnam, and MB Bank. This is the first card-based trade payment solution of its kind in Vietnam.

The Visa GTPP Vietnam Korea platform lets Vietnamese importers pay South Korean suppliers using Visa Commercial Cards.

Bilateral trade between Vietnam and South Korea hit $86.7 billion in 2024. It could reach $150 billion by 2030, according to KOTRA.

This growth fuels demand for faster cross-border payments. SMEs drive Vietnam’s economy—and they need better tools.

A Visa study shows Vietnam leads Asia-Pacific in B2B card adoption. 8.3% of B2B payment volumes now use cards. This shows strong readiness for digital solutions like GTPP.

Businesses can use three cards: the VPBiz Visa Platinum, Shinhan Visa Corporate, and MB Visa Hi BIZ.

Payments settle in about two minutes. Users get digitized records, flexible credit, and low FX fees—just 1.2%.

GTPP also links Vietnamese buyers to over 150,000 Korean exporters via KOTRA. This expands supply chain access.

Dung Dang, Visa Country Manager for Vietnam and Laos, said: “GTPP supports inclusive growth. It gives SMEs the tools to compete globally.”

Jung Hun Lee of KOTRA added: “This makes trade faster, safer, and more transparent.”

VPBank noted the platform offers extended grace periods. This helps cut funding costs for importers.

Shinhan Bank’s CEO called GTPP a “key milestone” in Vietnam’s digital payment shift.

MB Bank’s deputy director said the Hi BIZ Card supports everything from daily payments to global expansion.

All three banks won Visa’s 2025 Excellence Award for B2B innovation with SMEs.

The Visa GTPP Vietnam Korea initiative modernizes trade finance. It helps Vietnamese businesses thrive in global markets.

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