Cake digital bank launches fully cloud-based card management system
Cake by VPBank (Cake), Vietnam's largest digital bank by user base, revenue and product variety, on Wednesday announced the launch of its first fully cloud-based Card Management System (CMS) in collaboration with Visa.

Cake is the first issuing bank globally to have implemented Visa Cloud Connect on Google Cloud Infrastructure. Photo courtesy of Cake.
The new cloud-based CMS utilizes Visa Cloud Connect on Google Cloud infrastructure as its access model to the Visa network. This innovative solution is the first of its kind in Vietnam and is now available on Cake's platform, significantly advancing payment processing modernization.
Visa Cloud Connect allows financial institutions to securely connect to the Visa network via participating cloud-based infrastructure, simplifying and accelerating access to Visa’s global payment network, Visa said in a release.
This benefits a wide range of businesses, from early-stage fintechs and traditional clients, to cloud-native enterprises, that are looking for faster time-to-market, infrastructure modernization, or business expansion, regardless of their existing connections to the Visa network, it added.
Businesses using Cake's platform benefit from Visa Cloud Connect’s enhanced operational capabilities, such as reduced data center overheads and costs.
It promotes operations-driven sustainability and scalability to meet demand and adaptability for future payment innovations and growth. Visa Cloud Connect supports all card and transaction types, is available globally, and maintains the highest levels of security and control.
Dung Dang, Visa country manager for Vietnam and Laos, said: "A cloud-based solution enhances operational efficiency and promotes cashless payments, aligning with our vision for a digital future in Vietnam. It underscores Visa's commitment to supporting fintech innovation and financial inclusion in the region."
Cake is the first issuing bank globally to have implemented Visa Cloud Connect on Google Cloud Infrastructure.
Nguyen Duc Toan, country manager, Vietnam, Google Cloud, said: “Vietnam is in the midst of a rapid shift toward a cashless society, with the gross transaction value of digital payments projected to reach between $300 billion and $350 billion by 2030.
"Cake CMS is one of the world’s first implementations of Visa Cloud Connect on Google Cloud’s secure, scalable, open, and cost-optimized infrastructure, enabling it to deliver the seamless payment experiences that today’s customers demand," he added.
Tu The Hien, chief technology officer at Cake by VPBank, commented: “Technology is the backbone of Cake's rapid growth. This collaboration integrates Visa's payment expertise, Cake's innovative DNA and Google Cloud's secure and scalable infrastructure to deliver a seamless payment experience and operational efficiency."
Cake by VPBank digital bank (Cake) was launched in January 2021 in Vietnam. Cake is a digital-only bank that applies AI in the entire banking process with the orientation of "Next GenAI Bank". As of September 2024, Cake digital bank serves more than 4.6 million customers.
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