Mastercard expands cooperation to advance digital payments in Vietnam

Mastercard expands cooperation on digital payments, cybersecurity

Jon Huntsman, vice-chairman and president in charge of strategic growth at Mastercard, visited Vietnam on Tuesday and met with government agencies, regulators, and industry partners.

The delegation also included Donald Ong, division president for Mastercard's East Southeast Asia division, and Rajat Maheshwari, senior vice-president for government affairs in Asia Pacific at Mastercard

The meetings focused on opportunities to support Vietnam's digital economy, with discussions covering digital payments, payment safety and security, cybersecurity, financial inclusion, and long-term investment.

Mastercard said it could leverage its global expertise, technology, and data to help develop a secure, sustainable, and inclusive digital ecosystem in Vietnam.

The company also emphasized the role of public-private partnerships in the country's digital transformation.

"Vietnam's ongoing digital transformation is opening up significant opportunities for businesses, communities, and consumers across the country," Huntsman said.

"Realizing this potential requires long-term investment and deep collaboration."

Mastercard is committed to working with government agencies, regulators, partners, and businesses to strengthen essential infrastructure, develop the digital payment ecosystem, and support Vietnam's next stage of growth, according to Huntsman.

Digitalizing transport, public services

In Ho Chi Minh City, Mastercard has worked with partners to deploy an open-loop payment system on metro line 1, which connects Ben Thanh Market and Suoi Tien Coach Station, buses, water buses, and public bicycles.

The system is intended to support the digitalization of everyday transportation.

Mastercard has also partnered with the Ministry of Public Security and Vietnamese technology company GoTrust on the Digital Citizen Station initiative, which supports people's access to public services through digital solutions.

The company is also working with the Vietnam National Authority of Tourism under a strategic partnership for 2026-30.

The cooperation focuses on technology transfer, digital transformation, data analytics, and capacity building to support Vietnam's tourism sector.

Mastercard is also supporting micro, small and medium-sized enterprises (MSMEs) and women entrepreneurs in gaining greater access to the digital economy.

Through Strive Women, part of the Mastercard Strive program led by CARE, an international humanitarian organization, Mastercard is working with Vietnamese partners including VPBank to help women-owned small businesses access financial and digital tools.

The program is meant to strengthen their resilience and support business growth.

"The discussions with government and business leaders demonstrated the strong momentum of Vietnam's digital transformation," Ong said.

According to Ong, continued cooperation would contribute to building a secure, inclusive, and flexible digital economy, from public services and urban transportation to tourism and small-business development.

The visit provided Mastercard with an opportunity to strengthen dialogue with regulators and businesses on the development of digital payments in Vietnam, while sharing its experience and technological capabilities in the development of the digital economy.