Financial technology (fintech) companies could be a great source of capital for small and micro enterprises, but a complete legal framework is needed to sustainably develop the capital channel, experts said.
Mastercard has been actively expanding its platform capabilities through the Mastercard Developers portfolio, adding a multitude of different services to power new ways to pay, enhancing the customer experience and creating trust across the payments ecosystem.
Investment in start-ups in Southeast Asia soared in the second quarter of this year despite the COVID-19 pandemic, led by e-commerce and fintech companies.
The State Bank of Viet Nam is planning to pilot a regulatory sandbox which would allow fintech companies to participate in providing some banking services starting from 2021.
Fintech companies could hold the key to driving last-mile adoption of digital payments and unlocking vast cash displacement opportunity in Southeast Asia, including Viet Nam, according to Visa, a world leader in digital payments.
As many as 72 per cent of Vietnamese fintech companies were opting to co-operate with local banks instead of competing, according to Le Anh Dung, director of the Payment Department under the State Bank of Viet Nam.
The trend of non-cash payments and digitalisation in personal banking and the explosion of fintech firms in Viet Nam have placed banks ahead of many opportunities and challenges in fourth industrial revolution. Speaking to the media, Dr. Can Van Luc,...