Visa and DealMe have partnered to launch cross-border card instalment payment services, offering greater flexibility for Vietnamese and international consumers.
The partnership stems from a shared goal of making cross-border transactions more convenient and accessible, according to FF News.
With travel between Vietnam and South Korea on the rise, the new instalment payment services will allow Vietnamese Visa cardholders to make purchases abroad with enhanced repayment options.
Visa, known for its extensive global network and innovative payment solutions, continues to lead the digital payment space.
The company serves millions of consumers and businesses worldwide with products that support secure, seamless transactions. DealMe, a FinTech company specialising in payment technology, aims to simplify payment experiences for consumers by offering advanced solutions such as the cross-border instalment services being introduced in this partnership.
The collaboration will enable cardholders with Visa credit cards issued in Vietnam to access real-time instalment offers at top merchants in South Korea, such as duty-free shops, department stores, and medical institutions.
This service is particularly timely, as 75% of surveyed Vietnamese consumers plan to travel for leisure next year, with South Korea being the most popular destination (18%).
Additionally, Visa and DealMe will enable instalment payments for international shoppers at participating South Korean merchants. These payments will be facilitated by checking Visa cardholders’ eligibility for the cross-border instalment service at the point of sale, giving consumers the flexibility to choose instalment durations that suit their needs.
DealMe’s roadmap includes leveraging Visa’s global network to scale the service beyond South Korea. After an initial pilot in South Korea, DealMe plans to roll out the cross-border installment payments to other markets, including Vietnam, the United States, Australia, Japan, and Singapore. This partnership was formalised with a Memorandum of Understanding (MOU) signed with Visa’s Asia-Pacific headquarters in November 2024.
“This collaboration with DealMe reinforces Visa’s commitment to enhancing cross-border payments in Vietnam. The timing is ideal, with South Korea a favoured destination for Vietnamese travellers and Asia Pacific travellers, and inbound tourism to Vietnam rebounding strongly. This innovative cross-border installment solution offers greater flexibility for both inbound and outbound travellers, supporting Vietnam’s future tourism payments and contributing to the nation’s digital transformation,” said Visa country manager for Vietnam and Laos, Ms. Dung Dang.
DealMe SVP Mr. KIM Tae Hong added, “We are delighted to partner with Visa to enable card installment payment on cross-border transactions. This gives consumers an additional payment option when travelling overseas.”
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