Visa’s New Flows event showcases fintech partnerships to support Vietnam’s SMEs


Innovative solutions demonstrate growth opportunities for B2B enterprises


Visa, the world leader in digital payments, recently hosted the “New Flows Client Forum” event, welcoming clients and partners looking to learn more about Visa’s solutions and formidable fintech partnerships and how these can positively support the growth of Small and Medium-sized Enterprises (SMEs). At the event, Visa speakers shared use cases of how Visa has expanded its support of broader money movement flows among individuals, businesses, and governments.

Digital payments have been steadily rising, with the shift to online payments most seen among emerging consumer groups. Online marketplaces and payment portals for various services and utilities have become preferred channels for consumers comfortable with using these secure means of shopping and paying for purchases. According to Visa’s Consumer Payment Attitudes Study 20221, over 70% of Vietnamese consumers are generally receptive to Open Banking, especially fintech and non-bank service providers that can open an account for them using their existing data with banks.

The ever-growing fintech space, however, presents growth not only for B2C companies. B2B enterprises across various industries can similarly leverage fintech to tap new markets for rewarding opportunities. Traditionally, commercial card-based payments have been used to support travel and entertainment-related business’s expenses. However, an increasing number of industry verticals are now using digital B2B payment solutions to respond to challenges within supply chain payments.

“There are a lot of recognized pain points in the supply chain setup of old,” said Mr. Gareth Jon Parrington, Senior Director, Head of New Flows, Visa Asia Pacific. “Whether from the manufacturer to distributor phase, to the distributor to retailer phase, issues abound, such as managing credit and payment risks, the inability to provide credit lines and limits, limited capital, and the risk of loss and fraud. Digitizing payment collections, however, provide a range of benefits – from improving data and enhancing visibility for business analytics to eliminating risk of cash and cheque handling, among others.”

Fintech has also responded to the challenges brought on by cross-border payments. With the emergence of B2B e-marketplaces, which need to ensure a fast and smooth payout to sellers on their platforms, solutions such as virtual cards allow for the elimination of cross-border wire transfer complexities and enable improved data transparency and reconciliation.

“With global money movements becoming increasingly widespread, Visa is focused on making B2B payments effortless for enterprises and removing the challenges and inefficiencies they face with old payment models. There is tremendous opportunity for mutual growth, which is why we aim to support our B2B customers by maximizing our fintech expertise,” shared Mr. Parrington.

In Vietnam, B2B-focused fintech presents new revenue and growth streams for enterprises of all sizes. A recent McKinsey study2 noted that business disruptions caused by the pandemic have pushed companies to accelerate their digital journeys. This has fueled B2B eCommerce, and the trend is here to stay as B2B buyers are increasingly comfortable with digital channels.

“The B2B e-marketplace is booming, and it’s the perfect time for Vietnam’s SMEs to take part in this continued growth,” noted Ms. Dung Dang, Visa Country Manager for Vietnam and Laos. “Various industry verticals are seeing increasing use of B2B marketplaces, and in Vietnam, the agriculture, B2B travel, and FMCG sectors are likely to benefit greatly from enhanced supply chain access, ease of payment options and capabilities, and high revenue growth potential.”

B2B relationships are vastly different from B2C, as buyers and suppliers often have long-term relationships. Interoperability is key to closing the gaps, allowing consumers and merchants from different markets and payment schemes to do business seamlessly around the world3. Visa B2B Connect provides predictable, efficient cross-border payments for businesses to transact internationally. It allows for more cost-effective cross-border transactions and provides both corporate finance institutions and their customers a transparent view of fees associated with each transaction, helping companies to manage their cash flows and streamline settlement.

“Visa has an expansive range of B2B solutions which can ensure that SMEs in Vietnam are able to tap new markets for both distribution and supply, and reliably conduct their online transactions,” added Ms. Dung. “This is not only reimagining B2B cross-border connections but ensures Vietnam’s SMEs can remain competitive in today’s ever growing business landscape.”

Ms. Dung also stressed that financial institutions should be able to also capitalize on this opportunity by supporting issuance for trusted partners: “Issuers should then leverage marketplace partnerships as acquisition channels – through cobranded cards, they are able to support improved B2B payment capabilities while also expanding their customer base.”

To know more about Visa’s New Flows, visit



1 The Visa Consumer Payment Attitudes Study was prepared by CLEAR in Sep-Oct 2022, surveyed amongst 6,550 consumers in Singapore, Philippines, Malaysia, Indonesia, Thailand, Vietnam, and Cambodia. The study conducted online interviews with 1,000 Vietnamese consumers across the country who are working part or full time with a demographic mix that sought to create a representative mix of ages and genders.

2 LaBerge L, O’Toole C, Schneider J and Smaje K (2020) How COVID-19 has pushed companies over the technology tipping point—and transformed business forever, McKinsey & Company website, Mar 2023,

3 Time to rethink payments strategies for 2023 (again), Jan 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 that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at