Vietnam has emerged as one of Southeast Asia's most dynamic emerging markets, with its e-commerce sector maintaining an impressive annual growth rate of over 20%. Driven by favorable demographics, increasing internet penetration and supportive government policies, Vietnam's digital economy has experienced explosive expansion. According to Vietnam News Agency, the country's e-commerce market is projected to reach $45 billion by 2025.
However, as the market grows rapidly, Vietnam's underdeveloped financial ecosystem and fragmented payment landscape have created new challenges for international businesses. The gap between rapidly expanding business needs and underdeveloped localized payment capabilities has become a major obstacle - from foreign exchange costs eroding profits, to inefficient multi-platform fund aggregation, to poor compatibility with local payment ecosystems. These issues are hindering the development of global merchants in Vietnam.
To address these challenges, Pyvio has leveraged its years of industry expertise and financial infrastructure development to create a comprehensive cross-border fund management solution centered around "local currency settlement and multi-platform management." Our goal is to become the most reliable payment partner for international businesses operating in Vietnam.
With traditional cross-border payment methods, transactions in Vietnamese Dong (VND) are inconvenient, requiring multiple currency conversions (VND→USD→CNY). This not only creates multiple layers of foreign exchange losses but also exposes businesses to exchange rate fluctuations that can significantly reduce profits. Pyvio's global collection service enables merchants to receive payments directly in VND, with funds going straight to local accounts without intermediate currency conversion. Compared to traditional methods, this approach significantly reduces exchange fees, improves fund settlement speed, and eliminates profit erosion from exchange rate volatility and hidden fees.
The business strategy of "Don't put all your eggs in one basket" has become increasingly common among global merchants. Companies expanding into Vietnam often need to operate across multiple platforms including Shopee, Lazada, Tiki and TikTok Shop. While multi-platform operations help diversify traffic sources, they also complicate fund management. Traditionally, businesses had to manually withdraw funds from each platform's backend before converting and consolidating multiple currencies through banks or third-party payment tools. This often resulted in mismatches between sales records and actual payments, creating complex fund management processes due to information asymmetry. Manual reconciliation is both time-consuming and prone to errors. Pyvio supports collections from all major Vietnamese e-commerce platforms, allowing businesses to manage multi-store, multi-currency funds through a single Pyvio account. API integration enables seamless connectivity with e-commerce platforms and automated processing of incoming funds and transaction records. Each sub-account has its own independent transaction statements, providing clear visibility into collections across all platforms.
Cross-border fund management doesn't end with collections - the real value comes from making funds flow efficiently to create more value. For businesses expanding into Vietnam, receiving payments is just the first step in localization. The key to improving overall operational efficiency lies in effectively utilizing funds within Vietnam. Pyvio has created an integrated Collection & Payment platform, enabling businesses to seamlessly pay and get paid in Vietnamese Dong without FX swaps. Meanwhile, Pyvio can provide tailored solutions covering all business scenarios, including E-Commerce, B2B, logistics and warehousing, social entertainment, digital services & subscriptions, influencer commissions, payroll, etc., meeting the specific payment requirements of individuals and businesses from different industries.
As a leading cross-border payment service provider focusing on Southeast Asia, Latin America, and Africa, Pyvio will continue to strengthen its support for individuals and enterprises expanding into Vietnam, making cross-border trade and payment in Vietnam simpler and more vibrant.
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