Visa links with MDP to strengthen digital payment

Visa links with MDP to strengthen digital payment

Digital payments provider Visa has recently announced it will partner with MobiFone Digital Payment Joint Stock Company (MDP) to collaborate on advancing Việt Nam’s digital payments ecosystem.

The signing ceremony between Visa and MDP to to collaborate on advancing Việt Nam’s digital payments ecosystem. — Photo Courtesy of Visa Vietnam

Digital payments provider Visa has recently announced it will partner with MobiFone Digital Payment Joint Stock Company (MDP) to collaborate on advancing Việt Nam’s digital payments ecosystem. 

An MoU was signed during the official launch of MDP, a licensed domestic switching and clearing entity regulated by the State Bank of Vietnam to provide intermediary payment services in compliance with regulatory frameworks. This sets out a framework for co-operation focused on expanding payment acceptance, enabling secure fund flows, and strengthening payment infrastructure in Việt Nam.

Through this collaboration, Visa and MDP will explore opportunities to broaden payment acceptance across physical and digital channels, including QR-based payments and omnichannel acceptance, to enable secure money movement through Visa Direct. 

The collaboration will also focus on modernising payment infrastructure, supporting regulatory compliance, and enhancing interoperability between domestic and global payment networks.

By combining Visa’s global expertise and technology with MDP’s domestic infrastructure and market connectivity, the collaboration aims to deliver secure, scalable and interoperable payment solutions that support businesses, financial institutions, consumers, and tourists, while contributing to Viet Nam’s transition toward a digital, cashless economy.

“Việt Nam is one of the fastest-growing digital economies in the region, and we are pleased to collaborate with MobiFone Digital Payment to support the continued evolution of the country’s payments landscape. Through this collaboration, we will apply Visa’s global standards, technology and risk expertise to help expand acceptance, enhance payment experiences, and strengthen trust in digital payments across Việt Nam,” said Dung Dang, Visa Country Manager for Việt Nam and Laos.

This collaboration underscores Visa’s continued commitment to advancing digital payments and fostering innovation in Việt Nam, while reinforcing MDP’s role as a key enabler of next‑generation domestic payment infrastructure. Together, the two parties aim to enhance connectivity, efficiency and trust across the payment ecosystem, supporting Viet Nam’s long‑term digital economic development.

Previsouly, Visa and Trip.com Group entered into a new global agreement designed to make booking and paying for travel more seamless for consumers and partners worldwide.

Through this collaboration, Trip.com Group introduced a virtual travel card programme issued in partnership with Visa via Trip.com Group’s fintech arm, TripLink.

The programme, already launched in Singapore and expanding to the Netherlands and Hong Kong, is designed to help travel suppliers, hotels, and agencies process payments more efficiently and securely, ultimately improving the overall experience for travellers. 

In Việt Nam, together with Trip.com, Visa launches the ‘Top Spending Challenge’, giving Visa cardholders who book travel on the Trip.com app a chance to win a once-in-a-lifetime trip to experience the world’s biggest football event live. 

Bizhub