Mr Nagesh Devata, SVP of APAC at Payoneer

According to the Ministry of Industry and Trade, Vietnam’s e-commerce market reached US$31 billion in 2025, growing more than 25% year-on-year and accounting for roughly 10% of total retail sales. While domestic consumption continues to drive overall volume, cross-border e-commerce is becoming a more meaningful source of value for small and medium-sized businesses (SMBs), particularly those seeking to diversify markets and build more resilient revenue streams.

At the same time, Vietnam is positioning itself more deeply within regional and global digital trade frameworks. Efforts to strengthen e-commerce provisions within ASEAN and other international trade arrangements point to a longer-term shift: cross-border e-commerce is emerging as a strategic growth engine, underpinned by Vietnam’s young, digitally savvy population, competitive manufacturing base, and rising integration into global supply chains.

For businesses, this evolution signals growing opportunity as well as rising expectations around operational readiness.

Financial infrastructure as an execution enabler

As cross-border e-commerce evolves into always-on, multi-market operations, Vietnamese sellers are under increasing pressure to manage the demands of scaling globally. Payments, cash flow, compliance, and logistics are no longer secondary considerations, but core functions that shape day-to-day operations.

Against this backdrop, financial infrastructure is emerging as a critical enabler of sustainable cross-border growth. Rather than simply facilitating transactions, modern payment and financial systems are expected to support operational complexity across markets.

Centralized account structures allow businesses to consolidate revenues from different countries and platforms, improving financial visibility and control. This supports more effective clearer forecasting, and smoother coordination with suppliers and partners. For SMBs operating internationally, it also reduces reliance on fragmented local banking arrangements and manual reconciliation processes.

Efficient cross-border payment flows are equally important. A smooth and predictable flow allows businesses to maintain healthier cash cycles and slow reinvestment into inventory, marketing, or expansion. Recognizing this need, Payoneer has developed a global financial infrastructure that streamlines international payments and helps businesses and respond more quickly to changing market demand.

Regulated, scalable financial infrastructure plays a role in supporting compliance as sellers expand into new markets. As a global financial infrastructure operating across more than 190 countries and territories, Payoneer supports this complexity by offering consistent financial access across markets while aligning with local regulatory requirements.

With over 20 years of proven experience, Payoneer has built a strong track record of trust and reliability. As of Q4 2025, the company managed approximately US$7.9 billion in customer funds, up 13% year-over-year, and generated nearly US$25 billion in total volume, a 10% increase from the same period last year. Payoneer also reported record quarterly revenue, excluding interest income, up 9% year-over-year, driven by strong growth among SMB customers and higher transaction volumes.

At this stage of ecosystem development, closer alignment between global marketplaces and financial infrastructure providers is becoming increasingly relevant. The joint effort with Amazon Global Selling Vietnam reflects a broader industry shift of Payoneer toward addressing execution gaps rather than simply expanding market access. Such collaborations aim to close execution gaps, ensuring that payments, currency management, and compliance can keep pace with commercial growth.

Operational resilience over expansion alone

Vietnamese SMBs are increasingly focused on sustainable operations as they expand globally. Many of them are prioritising structured financial management, by choosing trusted cross-border payment and financial service providers to reduce cash-flow pressure, mitigate risk, and navigate increasingly complex international requirements. In this context, Payoneer has become a partner of choice for businesses seeking greater financial control and visibility as they scale.

Looking ahead, Vietnam’s next phase of cross-border e-commerce growth is likely to be defined less by expansion alone and more by operational resilience, as rising logistics costs, compliance requirements, and competitive pressures place greater demands on execution. While competition intensifies and international operations grow more complex, businesses that can manage cash flow, compliance, and financial visibility effectively will be better positioned to grow sustainably.

“As cross-border e-commerce matures in Southeast Asia, the focus will increasingly shift from market entry to execution,” said Nagesh Devata, SVP of APAC at Payoneer. “The businesses that succeed will be those that can manage cash flow, compliance, and financial operations consistently across markets. Our role is to help reduce friction in those financial operations, so sellers can focus on building resilient, globally scalable businesses”.