HCM CITY — Mastercard and Shopee Vietnam on Wednesday announced a five-year strategic collaboration, marked by the launch of the VPBank S Rewards Mastercard card, Mastercard’s first card linked to Shopee in Việt Nam, as the partners seek to accelerate cashless payments and support the continued growth of the country’s digital economy.

This milestone represents the start of a long-term collaboration aimed at expanding digital payment adoption and strengthening Việt Nam’s fast-growing digital economy.

To meet evolving consumer expectations in one of Southeast Asia’s fastest-growing digital markets, Mastercard and Shopee have entered into a strategic collaboration in Việt Nam that combines Mastercard’s global payments expertise with Shopee’s e-commerce ecosystem.

The partnership supports the development of scalable card propositions and integrated loyalty experiences by leveraging Mastercard’s secure global network, data-driven insights and proven go-to-market capabilities. Anchored within Shopee’s leading e-commerce ecosystem and informed by its deep insights into digital consumer behaviour, these solutions are designed to integrate seamlessly into high-frequency shopping journeys to drive adoption, habitual usage and trust in cashless payments.

“Mastercard is pleased to enter a strategic collaboration with Shopee Vietnam to support the evolution of Việt Nam’s digital landscape. The country’s e-commerce market is scaling at pace, projected to reach around US$63 billion by 2030, and purchase behaviour is increasingly social-first, with over half of consumers preferring to buy via social platforms. Through this initiative between Mastercard and Shopee, we aim to advance trust, inclusion and relevance in digital commerce, helping Việt Nam build a more connected and confidently cashless future for consumers, merchants and issuers,” said Sharad Jain, Country Manager, Vietnam, Laos and Cambodia, Mastercard.

Through the collaboration, Shopee users will benefit from greater value and convenience, including more relevant card benefits, enhanced rewards and loyalty features through Mastercard payments integrated into Shopee VIP and Shopee Coins, as well as faster, safer and more seamless Mastercard card payments across the Shopee platform.

For sellers and brands, the partnership is expected to open up new growth opportunities through joint promotional campaigns and co-marketing initiatives by Shopee and Mastercard.

The VPBank S Rewards Mastercard card has been available for registration on Shopee since January 5. The card is issued by VPBank as part of the collaboration. — VNS