MBBank partners with Visa, Kotra to launch new MB Visa Hi BIZ corporate card

MBBank (MB) on Wednesday launched a new version of its MB Visa Hi BIZ corporate card, offering enhanced spending management tools and cross-border payment capabilities through partnerships with Visa and South Korea’s trade promotion agency Kotra.

MB stated that the upgraded card is designed to support Vietnamese companies amid rising operational costs which grew 5.8-7.2% in the first nine months of 2025, according to the General Statistics Office, and increasing demand for digital financial management under Decree 70.

Decree 70, dated March 20, 2025, amends and supplements a number of articles of Decree 123 dated Octover 19, 2020 on invoices.

MB’s research shows about 40% of local SMEs are concerned about invoice management and expense reconciliation, while many import-oriented SMEs need faster, less paperwork-intensive international payments.

The card integrates both debit and credit functions and supports real-time expense tracking via MB’s BIZ MBBank ecosystem. It applies a 1.2% foreign exchange conversion fee and offers cashback of up to VND30 million ($1,140) annually. Companies can set spending limits by department and reduce reconciliation risks, the bank said.

The new MB Hi BIZ card offers features closely aligned with market demands, reaffirming MB’s position as a leading digital bank for businesses.

It provides up to VND30 million ($1,140) in annual cashback, focusing on four of the most common spending categories among Vietnamese enterprises: advertising (2.5% cashback on online advertising spend on platforms like Facebook and Google), business travel (hotels, airport lounges, air tickets), client engagement & transportation (restaurants, taxis), governance software (MISA, Google Workspace).

Nguyen Xuan Cuong, deputy head of MB’s digital banking division, said the product was developed in response to growing demand for cost optimization and greater transparency. He said digitalized corporate spending via card-based solutions is likely to become a standard in coming years.

Same-day Vietnam-Korea B2B payments

A key feature of the new card is access to the Global Trade Payment Platform (GTPP), developed by Visa and Kotra, enabling same-day B2B payments between Vietnamese firms and Korean partners using corporate cards. Traditional cross-border transfers typically take three to five days and require extensive paperwork.

Kotra said Vietnam was South Korea’s third-largest export market in 2024, with bilateral trade exceeding $80 billion, and that standardizing payment processes would particularly benefit SMEs.

Visa Vietnam said corporate card-based B2B payments are a growing global trend due to improved cash flow visibility and higher transparency.

Visa Vietnam & Laos country manager Dang Tuyet Dung noted: “Our partnership with MB once again reinforces our shared commitment to providing modern, secure, and efficient payment solutions for Vietnamese businesses. The MB Visa Hi BIZ will help enterprises optimize spending, strengthen financial management, and expand international trade.”

In October, Visa recognized MB with two awards: “Pioneering Bank in Corporate Card Innovation” and “Pioneering Bank in B2B Payment Solutions for SMEs”. MB said these acknowledgements strengthen its strategy to expand corporate financial products.

MB's deputy head of digital banking Cuong said that the launch of MB Visa Hi BIZ marks an important milestone in the bank's strategy to build a comprehensive digital financial ecosystem for Vietnamese enterprises.

"The product reflects MB’s commitment to understanding real business needs and delivering tailored solutions throughout their management, operations, and global trade journey,” he added.

In the past three months, MB Visa Hi BIZ recorded more than 15,000 new corporate registrations, 200% monthly transaction growth, and 80% reduction in time required for advances, settlement, and reconciliation.

The new MB Visa Hi BIZ card is currently offered with free issuance and a waived first-year annual fee. Companies can apply via MB’s website, the MB247 hotline (1900 9045), BIZ Helper, or any MB branch.