Mobile Finance

TerraPay announces multiple payment services deals in Vietnam

TerraPay announces multiple payment services deals in Vietnam

In the latest in a number of deals it has made in the Vietnam market, TerraPay, a global money movement company, has partnered with HDBank, one of Vietnam’s leading commercial banks, to enable real-time outbound international payments from Vietnam to bank accounts and mobile wallets worldwide.

Through this partnership, HDBank customers gain access to TerraPay’s global payout network spanning more than 156 countries and territories. By leveraging its existing Swift connectivity, HDBank can offer this without significant capital expenditure, technology upgrades or complex integrations.

As TerraPay explains, customers can continue to initiate international payments through HDBank as they always have, while TerraPay manages delivery to overseas bank accounts and digital wallets — reducing the complexity associated with traditional correspondent banking arrangements and helping HDBank bring new cross-border payment capabilities to market faster, while maintaining a familiar banking experience.

For HDBank’s retail and SME customers, this means real-time outbound payments, faster delivery to overseas suppliers, partners and beneficiaries, and a simplified international payment experience — backed by a trusted banking relationship.

TerraPay says it is continuing to build on its role as a trusted infrastructure partner for banks and financial institutions seeking seamless global connectivity. Indeed, this appears to be the third alliance in the Vietnamese market that it has announced in about as many weeks.

TerraPay recently partnered with MBV, a rapidly evolving financial institution in Vietnam focused on delivering modern banking services and expanding customer access to digital financial solutions, to provide customers with real-time outbound payment capabilities to bank accounts and digital wallets globally.

Not long before that deal TerraPay announced that it had partnered with TPBank, described as one of Vietnam’s most innovative and digitally focused banks, to offer customers real-time outbound cross-border payment capabilities to destinations worldwide.



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