HÀ NỘI — Mastercard and MobiFone Digital Payment Joint Stock Company (MDP) officially announced a strategic collaboration on May 8 to upgrade financial infrastructure and advance digital payments in Việt Nam.

This milestone marks a significant step in anticipating digital transformation needs by delivering secure, innovative, and future-ready solutions. It ensures seamless connectivity between Việt Nam’s domestic payment network and Mastercard’s global payment system, creating sustainable growth momentum for the national digital economy.

At the core of the Mastercard - MDP strategic collaboration is the optimisation of real-time payment infrastructure by combining Mastercard’s global payment technology expertise and MDP’s strong local operational capabilities. These comprehensive payment solutions are designed with high scalability and interoperability, helping to build a safe and seamless transaction environment for businesses and financial institutions to achieve breakthroughs in the digital age.

Beyond infrastructure, the two parties will drive innovation in payment-related products, optimise switching operations, and provide expert consulting services to support diverse user needs. Through this collaboration, Mastercard and MDP will support the State Bank of Việt Nam’s vision and strategic direction, with a focus on strengthening data interoperability, enhancing digital security, and accelerating the transition toward a cashless society.

“Mastercard is proud to establish this strategic collaboration with MDP, focusing on advancing the digital payments and financial infrastructure necessary to accelerate Việt Nam’s digital economy. With 70 per cent of Vietnamese consumers preferring innovative payment methods such as biometrics and QR codes, the need for future-ready solutions is clear. Through this collaboration, we are committed to building a strong ecosystem that delivers tangible benefits for businesses, consumers, and tourists, ultimately supporting the country's national digital goals,” said Sharad Jain, Country Manager, Vietnam, Laos and Cambodia, Mastercard.

Speaking at the event, Phan Thanh Sơn, CEO of MDP, shared: “Collaborating with a global organisation like Mastercard affirms MDP’s capabilities and represents an inevitable roadmap following MDP’s official launch in March 2026. We are not merely stopping at connectivity; our goal is to synergise Mastercard’s international strengths with MDP’s payment infrastructure to create secure ‘payment highways’ that deliver seamless experiences for the public. This collaboration allows MDP to optimise its scale and international connectivity, contributing to elevating Việt Nam’s position within the regional digital economic ecosystem.”

The collaboration is expected to create new momentum for the payments market, enabling businesses and consumers to access modern financial services in a secure and sustainable manner, while accelerating Việt Nam’s transition toward a digital economy.

Việt Nam currently leads the Asia Pacific region in digital financial adoption. According to the latest Mastercard New Payments Index, 94 per cent of Vietnamese consumers are already using at least one emerging payment method, the highest rate in Asia Pacific. This rapid adoption requires a robust, secure and flexible payments infrastructure to meet current market demands while supporting the next phase of the country’s digital economy. — VNS