Visa spearheads financial inclusion in Vietnam with Visa Installment Solutions


In response to growing demand and evolving needs from consumers in Vietnam, Visa – a world leader in digital payments – is collaborating with leading financial institutions to introduce Visa Installment Solutions (VIS). VIS provides consumers with the freedom to pay for their purchases over time, by breaking down the total cost into smaller, manageable installments and allowing consumers to purchase a variety of products, from electronics to daily essentials. 

VIS seeks to transform the payments landscape in Vietnam and signals a commitment to fostering financial inclusion. By leveraging on VIS, consumers will be able to pay by installments for both online and instore purchases during checkout at participating merchants. The service will be offered for domestic purchases first with plans for cross-border purchases in the future.

There has been an uptick in consumer demand for installment services in Vietnam. In studies commissioned by Visa, including the Installments and Usage Attitudes study published in September 20221, it was found that 87% of consumers surveyed in Vietnam have used an installment payment plan in the last 12 months, and that a typical consumer in Vietnam averages 20 installments annually. 

Ms. Dung Dang, Visa Country Manager for Vietnam and Laos, said, “Visa Installment Solutions demonstrates our commitment to creating a financially inclusive Vietnam. Collaborating with Sacombank, HDBank, Alepay, and NextPay, we're thrilled to introduce this groundbreaking solution to consumers. Visa Installment Solutions paves the way to drive financial empowerment and will be transformative for consumers and businesses in Vietnam.”

Mr. Nguyen Minh Tam, Deputy General Manager of Sacombank, shared: “At Sacombank, our mission is to make banking services accessible and seamless for everyone. Partnering with Visa underscores our dedication to enhancing the banking experience for every Vietnamese citizen. Beyond a payment solution, it's a testament to our commitment to financial inclusivity and a brighter financial future for all.”

Mr. Dam The Thai, Digital Banking Director cum Card Center Director for HDBank, shared: "The deployment of Visa's Installment Solution on the Muadee financial application by HDBank is a milestone in the journey to bring unique payment experiences to customers on HDBank's digital platform. Above all, the bank hopes that these convenient solutions, that leverage technology and finance, will incentivize customers to form the habit of cashless payments, stimulate domestic consumption, and bring benefits to both sellers and buyers that contribute to economic development."

Muadee by HDBank is a financial technology application provided by Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) with the core feature being the 'Buy now, Pay later' payment solution. The application leverages the professional financial expertise, safety and security, and diverse ecosystem of a leading commercial bank in Vietnam. 
Alepay and NextPay are payment facilitators that serve as crucial gateways, bridging the gap between issuing banks and merchants. Their innovative platforms facilitate the execution of payments in installments, heralding a transformative era in the purchasing journey. 

Ms. Nguyen Thi Van, Deputy CEO – Partnerships of NextTech Group, shared: “At Alepay, we are thrilled to be part of this transformative journey in payment gateways. VIS embodies our mission to democratize financial solutions. We are excited to pave the way for accessible, modern finance, ensuring that financial services are within reach for everyone, regardless of their background or location.”

Mr. Nguyen Huu Tuat, NextPay CEO, stated: “NextPay seeks to revolutionize the financial services landscape through innovative solutions. Our collaboration with Visa on VIS aligns perfectly with our vision of making modern financial services available to all. With VIS, we are breaking barriers, ensuring that every individual has the opportunity to experience the ease and convenience of digital payments, contributing to a financially inclusive society.”

FPTShop, one of the leading retail chains for digital products in Vietnam, will be accepting VIS in all of its stores to provide a seamless experience for customers.

Ms. Dang Thi Minh Nga, Senior Director of Non-Mobility Group, said: “FPTShop is the first merchant to embrace this installment service, paving the way for its widespread adoption. Making transactions simple and seamless is a crucial factor in influencing purchasing and payment decisions for our customers.” 

As a short-term financing instrument, Buy Now Pay Later (BNPL) repayments are typically interest-free, allowing consumers to pay for their purchases over time (up to 36 months) in regular installments. According to Visa research on BNPL adoption in its Asia Pacific Green Shoots Radar Regional Report (which looks at growth opportunities in a post-pandemic world)2, there is increasing awareness of BNPL platforms in the entire region, with highest usage among millennial consumers, followed by Gen X and Gen Z. Such use has been mostly driven by affordable monthly payment amounts, no/low interest fees and easy set-up. 

Consumers used installment options to buy personal/household electronics, luxury goods, personal shopping and furniture. Options offered by bank credit cards were most popular, followed by non-bank players such as retailers and BNPL brands.


The Installments and Usage Attitudes Study September 2022 was commissioned by Visa and conducted by Neurosenrum and surveyed 4,500 people in Vietnam, Indonesia and Philippines to understand the landscape of installments in these markets.
The Green Shoots Radar study is conducted quarterly by Visa to keep track of consumer sentiments across financial services, commerce, travel, and other categories. The total sample size is 8,400 across 14 Asia Pacific countries including Vietnam, with male and female respondents aged 18-65 years old.

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