TerraPay and HDBank Launch Real-Time International Payments for Vietnam’s Growing SME Sector

Quick Summary

TerraPay has partnered with HDBank to enable real-time international payments from Vietnam to over 156 countries. This collaboration allows Vietnamese SMEs and retail customers to bypass traditional correspondent banking delays, facilitating instant transfers to global bank accounts and mobile wallets through HDBank’s existing infrastructure.

How Does HDBank Solve Cross-Border Payment Delays?

Real-time international payments are now a reality for HDBank customers through a strategic integration with TerraPay’s global money movement network. By utilizing existing Swift connectivity, the bank eliminates the need for costly infrastructure overhauls or complex technical migrations. This approach ensures that Vietnamese business owners can send funds globally without the friction typically associated with multiple intermediary banks.

• Access to a network covering 156+ countries.
• Direct delivery to mobile wallets and bank accounts.
• Zero significant capital expenditure required for the bank.

What Results Has This Technology Delivered for Vietnam?

The partnership addresses a critical bottleneck in a market where outward remittance demand is expected to reach $346 million by 2030. By replacing traditional correspondent banking with TerraPay’s agile infrastructure, HDBank provides its users with enhanced payment visibility and significantly reduced settlement times. This is particularly vital for the SME trade ecosystem, which relies on speed to maintain supplier relationships.

• Supports a 4.69% CAGR in remittance growth.
• Connects users to 7.5 billion accounts worldwide.
• Maintains a familiar banking experience for end-users.

“Known for its strong retail banking franchise and growing SME business, HDBank continues to invest in digital banking and innovative customer solutions. Partnering with TerraPay empowers us to bring real-time international payments to our customers without asking them, or our infrastructure, to change. It’s a strategic step forward in supporting Vietnam’s expanding trade and business ecosystem.” said Mr. Huynh Trung Minh, Director of Bancassurance and Affiliate Partner Development.

Why is Infrastructure Interoperability Critical for Banks?

Modernizing cross-border payment capabilities no longer requires rebuilding a bank's core system from scratch. TerraPay’s model allows HDBank to act as a global financial hub by simply plugging into a unified interoperability network. This ensures that real-time international payments are processed with the same security as domestic transfers but with the reach of a global fintech leader.

“Banks like HDBank sit at the heart of how a country transacts with the world, and correspondent banking was never built for the speed today’s outbound payment demand requires. This partnership gives HDBank a direct route to global reach through infrastructure they already trust, so they can bring new capabilities to market faster and without disruption.” said Ani Sane, Co-Founder and Chief Business Officer, TerraPay.

FF NEWS TAKE:

This partnership moves the needle by proving that real-time international payments can be scaled within emerging markets without disrupting legacy banking workflows. By leveraging TerraPay’s rails, HDBank effectively leapfrogs the inefficiencies of correspondent banking. For Vietnam, a country rapidly integrating into global supply chains, this level of financial agility is no longer a luxury—it is a competitive necessity for its burgeoning SME sector.