The Global Trade Payment Platform (GTPP) is a specialized card payment solution for business-to-business (B2B) cross-border transactions. Developed by the Korea Trade-Investment Promotion Agency (KOTRA) and Korean electronic payment company NHN KCP, GTPP plays a crucial role in modernizing the global banking sector as financial institutions adopt the new ISO:20022 messaging standard.

The platform enables businesses in Korea and their international partners, particularly in Vietnam, to conduct transactions seamlessly, bypassing complex money transfer procedures. Companies can leverage a 40-50 day card limit to enhance cash flow and benefit from a 1,5% transaction fee, shared between the buyer and seller.

Chu Minh Tuan, Director of VPBankSME Digital Products and Payment Solutions Center, speaks at the event. Photo: VPBank

A VPBank representative stated that the platform standardizes the entire payment chain according to SWIFT standards, thereby shortening transaction times and improving processing accuracy. Implementing GTPP enables the bank to connect to a highly automated transaction processing network, minimizing manual errors and enhancing real-time reconciliation.

"We recognize international payments as a significant bottleneck in the trade chain", a VPBank representative stated. "The VPBiz Visa Platinum card, integrated with GTPP, is designed to reduce the process to approximately two minutes, offering flexible limits and an extended grace period. This helps businesses optimize cash flow and minimize capital costs."

Lee Ye Rim, KOTRA representative, speaks at the event. Photo: VPBank

During the launch event for the GTPP VPBiz Visa cross-border payment platform, a Visa representative highlighted Korea as one of Vietnam's largest trade partners, with bilateral trade exceeding 81,5 billion USD. Key sectors like electronics, medical equipment, and cosmetics are driving this growth.

"This data reveals a vast 'field of opportunity' for SMEs", a Visa representative noted, "especially when combined with modern payment solutions like GTPP to facilitate fast, secure, and transparent transactions, while also optimizing capital."

KOTRA, a key component of the GTPP ecosystem, committed to connecting Vietnamese businesses with reputable Korean suppliers. With a network comprising over 140.000 SMEs and 131 global offices, the organization not only certifies suppliers but also organizes trade promotion activities, fairs, and direct networking programs to help businesses expand their market reach.

Brian Soh, Director of Commercial Solutions at Visa, speaks at the event. Photo: VPBank

Driven by its ambition to be a leader in digitalization and corporate client services, VPBank anticipates this innovation will provide tangible benefits to thousands of businesses. It aims to foster efficient capital circulation and contribute to a transparent trade environment between Vietnam and global markets.

In 2025, Visa recognized VPBank with two awards at the Visa Vietnam Client Forum: "Leading Bank in Contactless Payment Acquirer Growth" and "Pioneering Bank in B2B Solutions for Corporate Clients." These accolades acknowledge VPBank's commitment to developing a comprehensive payment and cash flow management ecosystem for SMEs.

Looking ahead, VPBank plans to further expand its infrastructure and operational capabilities to fully leverage GTPP's benefits, while integrating new practices in international payments. This strategic move aims to solidify the bank's standing within Vietnam's financial system and pave the way for increased presence in foreign markets.

(Source: VPBank)