Falling in line with the increasing globalisation trend presented by the financial sector, the strategic collaboration between 9Pay and MSB aims to support advancements in international payments, providing solutions that meet the needs, demands, and preferences of customers. When commenting on the agreement, representatives from MSB mentioned that the Memorandum of Understanding (MoU) assists in the development of payment solutions, with the partnership intending to foster connections between Vietnamese and international businesses. Through this, the two organisations aim to address the scaling demand for simplified and optimised cross-border transactions.
The announcement comes just days after MSB invested in the Backbase Engagement Banking Platform to accelerate its digital transformation and make the customer experience more efficient and convenient. Through local implementation support delivered by SmartOSC, MSB looked into merging its banking services and creating an omnichannel journey for retail and enterprise customers across Vietnam. Also, by leveraging the Backbase platform, MSB aimed to consolidate its in-house applications onto a single platform.
As part of their collaboration, 9Pay and MSB committed to utilising their respective capabilities to create a payment system that prioritises safety, convenience, and efficiency. The two organisations plan to centre their efforts on improving services for global payment providers, remittances, and merchants, with business customers being projected to benefit from minimised costs, accelerated transfer tomes, optimised procedures, and scaled frequency of transactions.
Moreover, the strategic agreement is in line with the digitalisation trend in the economy, with cross-border payment solutions having a significant role. The partnership between 9Pay and MSB intends to assist international business operations in Vietnam, while also contributing to the digital advancement of the banking and finance sector. In addition, the deal includes 9Pay and MSB’s plans to jointly develop payment solutions customised to global service providers, remittance services, and merchants. The initiative focuses on promoting formal, secure, and legal cross-border business transactions in the region.
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