Visa and Cake Digital Bank (Vietnam) collaborate on a new cross-border receivables solution targeting the expanding e-commerce sector. This initiative supports Vietnamese individuals and small businesses earning income through global platforms. The solution streamlines their payment processes.
Cake becomes one of Vietnam's first digital banks to offer a bank-led approach for international income flows via a regulated, onshore platform. This aims to improve efficiency and transparency. The new system replaces the current fragmented system, which often involves offshore intermediaries.