TerraPay and MBV Launch Real-Time Outbound Global Payments for Vietnamese Banking Customers

Quick Summary

TerraPay and MBV have partnered to enable real-time outbound payments for Vietnamese banking customers. By leveraging TerraPay’s global network, MBV provides instant transfers to bank accounts and digital wallets in 156 countries, bypassing complex correspondent banking chains without requiring significant new technology infrastructure investments or system overhauls.

How Does MBV Enable Real-Time Outbound Payments?

MBV facilitates real-time outbound payments by integrating with TerraPay’s global money movement network through its existing Swift infrastructure. This strategic approach allows the bank to offer instant cross-border transfers to over 156 countries and territories without the need for heavy capital expenditure on new technology stacks.

• Single API connection provides access to 7.5 billion bank accounts globally.
• Swift infrastructure integration ensures a seamless transition for existing banking operations.
• Digital wallet payouts are now supported alongside traditional bank account transfers.

By reducing reliance on complex correspondent chains, MBV ensures that its customers experience faster, more transparent international transactions. This capability is critical in a market where 87% of adults are now banked and demand digital-first financial solutions.

What Benefits Does TerraPay Provide to Vietnamese Banks?

TerraPay acts as a trusted infrastructure partner, allowing Vietnamese financial institutions to scale their international reach rapidly. The partnership addresses the evolving customer expectations in Vietnam, where over 90% of transactions at many credit institutions are now conducted through digital channels.

• Global payout reach spanning 156+ countries and territories.
• Interoperable payment network connecting 3.7 billion mobile wallets.
• Frictionless customer experience maintained through existing banking interfaces.

"As financial access in Vietnam widens, customer expectations for banking are evolving just as fast — including how they move money across borders. This partnership gives MBV a single connection to global reach through infrastructure they already trust, so they can bring new capabilities to customers quickly and without disruption." said Ani Sane, Co-Founder and Chief Business Officer, TerraPay.

How Does This Partnership Impact the Vietnamese Fintech Landscape?

This collaboration signifies a major shift toward modern banking services in Southeast Asia. By enabling real-time outbound payments, MBV positions itself as a leader in digital transformation, catering to both businesses handling trade payments and individuals sending money abroad.

• 87% bank penetration in Vietnam creates a massive user base for digital services.
• 90% digital transaction rates highlight the necessity for real-time capabilities.
• Strategic innovation-led growth allows MBV to compete with global fintech platforms.

"MBV is focused on delivering modern banking services and expanding customer access to digital financial solutions. Partnering with TerraPay empowers us to accelerate the rollout of real-time international payments without the burden of major technology investment. It’s a strategic step forward in our vision of providing customers with modern, globally connected banking services." said Mr Le Xuan Vu, CEO of MBV.

FF NEWS TAKE:

This partnership definitely moves the needle for the Vietnamese market. By allowing MBV to utilize real-time outbound payments via existing Swift rails, TerraPay is solving the high-cost barrier to entry for regional banks. As Vietnam becomes a digital payments powerhouse, this infrastructure-first approach is the most efficient way to bridge the gap between local banking and the global borderless financial world.