The collaboration aims to support financial management efficiency, support compliance with upcoming tax regulations, and contribute to the country's ongoing digital transformation efforts.
According to financialit.net, Vietnam's business landscape is undergoing significant changes, particularly with the introduction of new value-added tax (VAT) regulations set to take effect on 1 July 2025.
The revised tax framework is expected to increase the demand for efficient financial management tools, prompting companies to seek digital solutions that ensure transparency and compliance. Visa and MISA are pooling their efforts to support businesses through this transition by promoting digital payment systems and integrating financial technologies.
As part of the agreement, Visa will collaborate with JETPAY, a MISA subsidiary, to develop a Business Payment Service Provider (BPSP) platform. This initiative is designed to streamline transactions for enterprises and government entities while improving overall financial reconciliation processes.
Beyond payment solutions, the collaboration will extend to training and capacity-building programmes. Businesses will gain access to consulting services, technical support, and workshops focused on optimising digital payment methods. These initiatives aim to improve understanding of how credit cards and other digital tools can enhance cash flow management.
Visa and MISA will also work with banking partners to develop new financial services that leverage artificial intelligence for data processing and credit assessments. This approach is expected to reduce the time businesses need to access capital, improving financial inclusion across various sectors.
Recognising the operational challenges posed by regulatory changes, Visa and MISA plan to provide businesses with digital tools to simplify compliance with tax documentation and reporting requirements.
To encourage adoption, Visa and MISA will offer exclusive incentives for businesses purchasing MISA's finance, accounting, marketing, sales, and human resources solutions. The collaboration is positioned as an effort to integrate Visa’s global payment expertise with MISA’s knowledge of the local business environment.
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