Vietnam’s digital economy is rapidly growing, with its gross merchandise value (GMV) projected to reach reach US$36 billion in 2024. This growth presents significant opportunities for the country’s 5.2 million SMEs, which contribute 45% to Vietnam’s GDP. However, these businesses often face challenges with administrative tasks, cash flow, and payments, hindering their growth potential.
“Vietnamese SMEs drive the economy, but operational challenges can hold them back,” said Ms. Dung Dang, Visa Country Manager for Vietnam and Laos. “Visa is committed to providing innovative payment solutions that simplify digital payments, cross-border transactions, and expense management. Our collaboration with Base reflects our dedication to equipping Vietnamese businesses with essential tools and knowledge, including the upcoming Vietnamese version of Practical Business Skills, a global digital platform offering free educational resources to help SMB owners make informed decisions and grow their businesses.”
“We’re excited to partner with Visa again for SaaS Day 2024,” said Mr. Nguyen Thuong Tuong Minh, CEO Base.vn. “This collaboration empowers businesses through technology. SaaS Day is a key platform for showcasing opportunities and fostering connections that will drive the future of Vietnamese business, especially with the launch of Base CRM and Base Service, and new integrations with key partners.”
Visa has consistently demonstrated its dedication to empowering SMEs throughout Asia Pacific. In September 2024, Visa signed a MoU with VINASME to provide crucial resources and training to support digital transformation and financial growth within the SME sector. Meanwhile, Visa’s annual Commercial Solutions Client Forum showcased the latest trends and opportunities in commercial money movement, including how Visa supports businesses such as commercial cards, money movement services, and innovative payment technologies.
