Banks Race to Build Digital Ecosystems, Supporting Businesses in Transition Phase

Millions of Vietnamese business households are urgently digitizing to comply with new regulations requiring electronic invoices and tax declarations, moving away from previous lump-sum tax payments. This shift presents significant challenges, including difficulties in manual cash flow management, limited access to bank capital due to a lack of credit history, and unfamiliarity with digital technologies.

HDBank is positioning itself as a digital partner, moving beyond mere procedural support to offer comprehensive assistance. The bank aims to be a digital anchor, helping small traders manage legal risks and achieve financial transparency. To facilitate this transition, HDBank provides a package of support services.

These services include free account and e-banking setup, preferential "Hong Phat" loans with flexible capital and interest rates starting at 6.8%, and free card issuance with cashback up to 9.6 million VND annually. Additionally, HDBank offers free POS installation and a 0.1% reduction on transaction fees.

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Currently, the whole country has about 5.2 million business households.

HDBank is also collaborating with partners to offer further support. This includes integrating sales management solutions, subsidizing 35,000 smart sales packages (valued up to 3.2 million VND each), and connecting with eTax Mobile for direct tax payments via the HDBank app. Future collaborations include a partnership with Misa for sales management, accounting, and tax settlement.

These initiatives enable business households to create digital signatures for invoices, manage inventory and customers, process QR payments quickly, automatically reconcile transactions, receive payment notifications, use softPOS to turn phones into card readers, generate sales reports, and file tax returns directly to the General Department of Taxation. HDBank's offerings aim to streamline operations and ensure compliance in the evolving digital landscape.

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From the perspective of 'procedural support' to 'comprehensive companionship', positioning HDBank as a digital anchor to help small traders manage legal risks and clarify cash flow.