On September 14, 2026, at the headquarters of the State Bank of Vietnam (SBV), Deputy Governor Pham Tien Dzung held a meeting with Mr. Jon M. Huntsman, Vice Chairman and President of Strategic Growth at Mastercard.
Deputy Governor Pham Tien Dzung and the Mastercard delegation pose for a group photo
The meeting was also attended by representatives of relevant SBV units. The Mastercard delegation included Mr. Donald Ong, Division President for Mastercard's East Southeast Asia Division, and Mr. Sharad Jain, Country Manager for Vietnam, Cambodia, and Laos.
Deputy Governor Pham Tien Dzung welcomed the Mastercard delegation and highly valued Mastercard’s 18-year partnership and contributions to the development of Vietnam’s banking system. He affirmed that Vietnam values and remains committed to creating favorable conditions for foreign companies, including U.S. businesses, to invest and pursue sustainable development in Vietnam.
Sharing updates on the development of non-cash payments and efforts to ensure security and safety in payment activities in Vietnam, Deputy Governor Pham Tien Dzung said that promoting non-cash payments is one of the key priorities of the Vietnamese Government in its digital transformation process.
As of the end of 2025, nearly 89% of people aged 15 and above in Vietnam had a bank account. Non-cash payments have also maintained double-digit growth for many years and are increasingly being adopted across various sectors, including healthcare, education, public services, and tourism.
The Deputy Governor emphasized that digital payments are becoming increasingly widespread, extending from banks and financial institutions to households and small businesses, thereby making transactions more convenient for people and further promoting non-cash payments in Vietnam.
Deputy Governor Pham Tien Dzung speaks at the meeting
The Deputy Governor noted that, amid increasingly sophisticated high-tech crime and growing cybersecurity risks, the SBV expects Mastercard to continue cooperating in preventing and combating fraud and scams, preventing the misuse of payment services for illegal activities, strengthening cybersecurity, and protecting payment service users.
Regarding future cooperation, the Deputy Governor proposed that Mastercard continue to share its experience, expertise, and new technological solutions, particularly in areas of growing interest such as artificial intelligence (AI), blockchain, and digital assets.
These are emerging areas that require enhanced information exchange, research, and sharing of international experience and best practices to support policy development and the development of Vietnam’s digital banking and finance ecosystem.
Mr. Jon M. Huntsman, Vice Chairman and President of Strategic Growth at Mastercard, speaks at the meeting
Speaking at the meeting. Mr. Jon M. Huntsman highly valued Vietnam’s achievements in digital transformation and affirmed that Mastercard would continue to support the SBV and Vietnam in strengthening cooperation in digital payments.
In particular, payment security and the prevention and combating of fraud and scams were identified as key areas of cooperation. Mr. Jon M. Huntsman stated that Mastercard stands ready to share its expertise and capabilities in data analytics, risk forecasting, and cybersecurity solutions to help Vietnam enhance the effectiveness of preventing, detecting, and addressing payment fraud.
An overview of the meeting
At the conclusion of the meeting, Deputy Governor Pham Tien Dung acknowledged Mastercard's proposals and expressed his hope for continued cooperation and experience sharing between the two sides, as well as joint efforts to explore appropriate solutions to promote digital payments, ensure security and safety, and improve the quality of payment services in Vietnam.
Minh Khang