62% of women-led SMBs surveyed in Vietnam experience increased revenue after accepting digital payments


Visa, a global leader in digital payments, conducted a survey on small and medium-sized businesses (SMBs) in Vietnam. The results revealed that 62% of women-led SMBs and micro-businesses1 reported increased revenue after adopting digital payments. Considering that women constitute over half of Asia's population, the Asia Pacific economy including the Vietnam market could gain an additional $89 billion annually if women were able to maximize their economic potential. 

SMBs are crucial for Vietnam's economic growth, with SMBs accounting for 96% of all businesses of Vietnam and employing 47% of the labour force. The study found that, with the adoption of digital payments, managing businesses has become easier for 73% of the surveyed SMBs in Vietnam. Almost three-quarters of the respondents have adopted digital payments, while 42% accept card payments. The primary factors influencing these decisions include ease of management, impact on sales, and the security afforded by bank transfers. 

Furthermore, two-thirds of the surveyed SMBs collaborate with more than one payment provider. Among the businesses that have started accepting digital payments, those accepting cards witnessed the most significant turnover increases (79%), compared to those who did not accept cards (46%). Digital payments enable fast transfers, and cashless everyday transactions for a better commerce experience. Visa supports SMBs in Vietnam through wide acceptance and protection for merchants and customers, and protection against fraud. 

Ms. Nguyen Minh Tram, CEO & Founder, Sorella Beauty & Spa, shared: “My business has grown since I introduced digital payment methods. I appreciate the convenience, speed, and the ability to easily track payment records. It provides my customers with a convenient cashless payment option too. I hope to expand my business beyond Vietnam so enabling cross-border payments will help me grow my customer base.”

"SMBs are the backbone of Vietnam's thriving economy and Visa is proud to contribute to their growth by providing secure and convenient digital payment solutions,” says Ms. Dung Dang, Visa Country Manager for Vietnam and Laos. “Visa is committed to continue introducing innovative financial and payment solutions, so they can build on this foundation to grow their business.” 

In Vietnam, Visa is committed to helping SMB owners and startups, having signed a three-year MoU with the State Bank of Vietnam. Visa launched its SMB Accelerator Program in Vietnam in 2023 to support SMBs and partners, including through faster onboarding and comprehensive take-to-market support. The expanded SMB Accelerator initiatives will also focus on a wider set of partnerships with ecosystem participants to serve smaller sellers and fast-track solutions deployment for SMBs. 

The Visa Foundation has also pledged $100 million over five years to accelerate access for underrepresented and women-led SMBs in APEC economies, including Vietnam, Indonesia, the Philippines, Mexico, and Peru. Of the nearly 67 million SMBs reached by Visa globally, approximately 29.6 million are from APEC economies, with 10.9 million being women-led SMBs.



350 SMBs – primarily micro SMBS and women-led SMBs in Vietnam – were surveyed about the impact of using digital payments for their revenue, business management and societal impact, from September to October 2023.


About Visa

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions, and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable, and secure payments network, enabling individuals, businesses, and economies to thrive. We believe economies that include everyone uplifts everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com