Visa (NYSE: V), a global leader in digital payments, and MobiFone Digital Payment Joint Stock Company (MDP), a licensed domestic switching and clearing entity regulated by the State Bank of Vietnam, have signed a strategic Memorandum of Understanding (MoU) to collaborate on advancing Vietnam’s digital payments ecosystem.

The MoU was signed during the official launch of MDP and sets out a framework for cooperation focused on expanding payment acceptance, enabling secure fund flows, and strengthening payment infrastructure in Vietnam.

Through this collaboration, Visa and MDP will explore opportunities to broaden payment acceptance across physical and digital channels, including QR-based payments and omnichannel acceptance, enable secure money movement through Visa Direct, a Visa service supporting fast, secure and reliable push payments, and strengthen fraud prevention and risk management through Featurespace, Visa’s specialist risk and compliance partner, and other Visa capabilities. The collaboration will also focus on modernizing payment infrastructure, supporting regulatory compliance, and enhancing interoperability between domestic and global payment networks.

By combining Visa’s global expertise and technology with MDP’s domestic infrastructure and market connectivity, the collaboration aims to deliver secure, scalable and interoperable payment solutions that support businesses, financial institutions, consumers, and tourists, while contributing to Vietnam’s transition toward a digital, cashless economy.

“Vietnam is one of the fastest-growing digital economies in the region, and we are pleased to collaborate with MobiFone Digital Payment to support the continued evolution of the country’s payments landscape. Through this collaboration, we will apply Visa’s global standards, technology and risk expertise to help expand acceptance, enhance payment experiences, and strengthen trust in digital payments across Vietnam,” said Ms. Dung Dang, Visa Country Manager for Vietnam and Laos.

Mr. Phan Thanh Son, Chief Executive of MobiFone Digital Payment JSC, said: “With a modern technology foundation and an open, collaborative approach, MDP aspires to build a new digital payments infrastructure for Vietnam – developed by Vietnamese, operated to international standards, and seamlessly connected to both domestic and global financial ecosystems. I firmly believe that this Memorandum of Understanding with Visa will be a key enabler of MDP’s integration into the global payments ecosystem, helping drive the rapid and sustainable growth of Vietnam’s digital payments landscape and strengthening the country’s position in the regional digital economy.”

This collaboration underscores Visa’s continued commitment to advancing digital payments and fostering innovation in Vietnam, while reinforcing MDP’s role as a key enabler of next‑generation domestic payment infrastructure. Together, the two parties aim to enhance connectivity, efficiency and trust across the payment ecosystem, supporting Vietnam’s long‑term digital economic development.