VIB launches digital financial solutions for Vietnamese SMEs!

VIB launches digital financial solutions for Vietnamese SMEs!

VIB (Vietnam International Bank) has developed a comprehensive suite of financial solutions for small and medium-sized enterprises (SMEs) in Vietnam to support them in raising capital and financial management. The new offering aims to provide an integrated ecosystem for financial products, including capital release, cash flow optimization and digital transformation support. Vietnam.vn reports that VIB offers three main products.

First, the VIB Business Card, a credit card with a free lifetime annual fee and a credit limit of up to VND1 billion. It also offers an interest-free period of up to 58 days or unlimited cashback. Other features include direct payments, flexible billing data and real-time transaction recording via digital applications. Secondly, the VIB Business Loan, a working capital supplementation loan package that offers a maximum credit limit of up to VND150 billion at competitive interest rates starting from 6.7% per annum. Thirdly, VIB Business Bank, which acts as a digital banking solution.

Cooperation with Visa and VNPAY

In addition to launching these products, VIB has partnered with Visa and VNPAY to create a comprehensive ecosystem that meets the diverse needs of businesses to pay and get paid. The three partners are working to support Vietnamese SMEs in their efficiency and digitalization. Tuoi Tre highlights that Visa's Business Payment Solution (BPSP) enables VIB cardholders to make payments to any payment accounts, including those without card acceptance. This significantly improves cash flow and control.

VNPAY expands this offering with solutions such as VNPAY Invoice for managing electronic invoices and the VNeDOC platform for creating and managing digital contracts and documents. These tools are crucial for optimizing operations, which is also highlighted by Tran Manh Nam, Director of VNPAY's Corporate Department. He emphasizes the role of digital transformation in the development of SMEs.

Advantages for SMEs

Representatives from Visa and VNPAY, including Dung Dang, Visa Country Head for Vietnam and Laos, and Ho Van Long, Deputy CEO at VIB, highlight the importance of innovative payment technologies and tailored financial tools that facilitate access to capital and increase competitiveness. VIB, Visa and VNPAY solutions are designed to help Vietnamese SMEs optimize their operations in financial management, cost control, sales and internal processes.

Overall, this initiative aims to improve the efficiency and competitiveness of SMEs in Vietnam and promote sustainable development.