9Pay eases payment challenges for foreign businesses in Việt Nam

9Pay eases payment challenges for foreign businesses in Việt Nam

9Pay, a licensed payment intermediary, is helping address some issues with digital financial services tailored to the local context.

9Pay, a licensed payment intermediary, is helping address some of these issues with digital financial services tailored to the local context. — Photo 9pay.vn

Foreign companies in Việt Nam continue to face difficulties with domestic payments and cross-border transactions, despite rising investment.

9Pay, a licensed payment intermediary, is helping address some of these issues with digital financial services tailored to the local context.

According to the Ministry of Finance, Việt Nam attracted nearly US$18.4 billion in registered FDI in the first five months of 2025, up over 51 per cent from the same period last year.

However, many new investors report slow payment processing, complicated paperwork for profit transfers and limited access to local banking systems.

While over 90 per cent of domestic transactions are now digital, FDI firms often struggle to integrate with local payment gateways or complete basic procedures like opening a business account. These challenges are particularly common in sectors such as e-commerce, logistics, and digital services.

9Pay Joint Stock Company, licensed by the State Bank of Việt Nam since 2018, provides services such as payment gateways, e-wallets, and domestic collection and disbursement. The company also supports foreign currency transactions and has integrated with more than 50 local banks and major international card schemes.

“In many cases, foreign businesses are unfamiliar with Việt Nam’s legal and tax procedures,” said 9Pay CEO Nguyễn Quang Thịnh.

“We offer support with documentation and compliance, aiming to make financial operations more manageable.”

9Pay currently works with over 1,000 foreign firms and plans to expand its services, particularly in high-volume sectors like education, tourism, and cross-border e-commerce. The company also plans to introduce tools for cash flow management and payment analytics over the next two years.

As Việt Nam continues to attract global investors, intermediaries like 9Pay are playing a growing role in helping businesses navigate the country's complex financial landscape. 

Bizhub