At a small eatery in Au Co (Hanoi), Pham Thi Van is getting used to customers paying by scanning QR codes, hearing a speaker announce the amount, and checking transactions directly on the bank's app. Previously, she relied on handwritten ledgers and cash transactions, rarely considering technology for her business.

"At first, I was scared. The idea of e-invoices and banking apps seemed confusing. If the staff hadn't come to guide me step-by-step, I wouldn't have dared to do it," Van shared.

Her story reflects the common experience of many small business owners learning to adapt to digitalization requirements, especially after Decree 70 mandated e-invoices through cash registers for household businesses. However, this transition remains challenging for many due to technological apprehension and ingrained manual processes.

According to Hoang Trong Hieu, Senior Director of Solution Development at Techcombank, Vietnam's over 6 million household businesses, ranging from traditional market vendors to modern chain stores, contribute nearly 33% to the national GDP and form the "backbone" of the economy.

"For them, digital transformation is not just about technology but also a shift in mindset and business approach. Despite the challenges, Vietnamese small businesses are eager to change if they receive support from authorities and reputable organizations," he said.

Hoang Trong Hieu, Senior Director of Solution Development at Techcombank. Photo: Techcombank

Hoang Trong Hieu, Senior Director of Solution Development at Techcombank. Photo: Techcombank

A Techcombank representative explained that each business has unique operational needs and scales, so a one-size-fits-all approach isn't feasible. To address this, the bank has engaged directly with small business owners, observing their practices and studying the market to tailor solutions for specific customer groups.

For traditional small businesses, Techcombank deployed staff to markets and individual shops to guide owners in opening accounts, obtaining QR codes, installing payment notification speakers, and introducing the bank's app and its features, such as the "Automatic Savings" function. Over time, these business owners are becoming familiar with cashless processes, tracking income and expenses on their phones, and gaining confidence in their operations.

"I used to think digital transformation was something very complex, but now customers scan QR codes, and the money is clearly reflected in my account. I can check all income and expenses on the app, which is much easier than handwritten records," shared Hang, owner of a grocery store on Quang Trung street.

Hang's grocery store. Photo: Techcombank

Hang's grocery store. Photo: Techcombank

For businesses already familiar with technology, such as coffee chains, spas, or fashion retailers, the challenge is not adopting digital tools but managing operations and ensuring flexible cash flow. To address this, in addition to payment collection solutions, Techcombank offers cash flow management tools and the ShopCash credit package, with interest rates starting from 326 dong per million dong per day, pre-approved credit limits, and quick disbursement through the app, eliminating the need for bank visits.

Tran Hoang Tien, founder of the Ham Tru An coffee chain, said ShopCash provides the financial flexibility that small businesses need. "I applied for a loan on the app and was pre-approved for 500 million dong. There are no fees if I don't use it. When I need to purchase goods or renovate the shop, I can withdraw the funds and then repay them later. This allows me to focus on brand development," Tien shared.

Tran Hoang Tien, founder of the Ham Tru An coffee chain. Photo: Techcombank

Tran Hoang Tien, founder of the Ham Tru An coffee chain. Photo: Techcombank

For larger household businesses, Techcombank provides sales and accounting software and advises on transitioning to corporate models to take advantage of government incentives. Additionally, financial solutions like "Automatic Savings" help customers optimize idle cash flow.

In the future, the bank plans to launch a "tap-to-pay" feature to streamline transactions and enhance the payment experience for both buyers and sellers.

"Techcombank is committed to supporting small businesses, from small shops in narrow alleys to modern chains, with appropriate technology, practical solutions, and a dedicated approach, ensuring that no one is left behind," emphasized Hoang Trong Hieu.

Minh Ngoc