March 20, 2024 | 14:36 GMT+7

Over 60% of Women-Led Businesses in Vietnam See Revenue Boost After Switching to Digital Payments

Diep Linh -

A new study reveals a strong link between digital payment adoption and increased revenue for women-led small and medium-sized businesses in Vietnam.

Source: Visa
Source: Visa

Women-led small and medium-sized businesses (SMBs) in Vietnam are seeing significant revenue growth after embracing digital payments.

A Visa survey found that 62% of these businesses experienced increased revenue following adoption.

"SMBs are the backbone of Vietnam's thriving economy. We're committed to continuous innovation in this space to help businesses build on this foundation," said Ms. Dung Dang, Visa Country Manager for Vietnam and Laos.

Women's economic empowerment is crucial, as the Asia Pacific region (including Vietnam) could gain an additional $89 billion annually if women reached their full economic potential. SMBs drive Vietnam's growth, representing 96% of all businesses and employing nearly half the workforce.

The Visa study reported 73% of surveyed SMBs find business management easier with digital payments. Three-quarters have adopted them, with 42% accepting card payments. Key motivators include ease of management, sales impact, and the security of bank transfers.

Two-thirds of surveyed SMBs work with multiple payment providers. Card-accepting businesses saw the largest revenue boost (79%) compared to those not accepting cards (46%). 

Ms. Nguyen Minh Tram, CEO & Founder of Sorella Beauty & Spa, shared her success story: "My business has grown since introducing digital payments. I appreciate the convenience, speed, and easy payment tracking. It's a seamless option for my customers, and I hope cross-border payments will help me expand internationally."

The original article is written and published on VnEconomy in Vietnamese only. To read the full article, please use the Google Translate tool below to translate the content into your preferred language.
VnEconomy is not responsible for the translation.

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