Visa And DealMe Partner To Enhance Cross-Border Payment Solutions

Visa, a leader in digital payments, and DealMe, a financial technology company, announced their partnership to meet the growing demand for cross-border shopping and flexible payment options. The two companies will introduce card installment payment services for international transactions. This will allow customers from Vietnam and other countries to enjoy more flexible payment methods.

Visa said cardholders in Vietnam with locally issued Visa credit cards will soon be able to access real-time installment payment offers while shopping in South Korea. These offers will be available at well-known places such as duty-free shops, department stores, and medical institutions.

Visa Aims To Enhance Payment Flexibility For Travelers

This new service is designed to make payments more convenient for travelers, especially Vietnamese consumers. According to Visa’s data, 75% of Vietnamese consumers plan to travel for leisure next year, with South Korea being the most popular destination, as 18% of those surveyed shared plans to visit the country.

This partnership will allow Visa and DealMe to offer installment payment services for foreign customers at partner stores. Visa shared that when international shoppers use their Visa credit cards at participating merchants, the cards will be checked for eligibility for the installment service.

If the cards qualify, customers can choose how long they want to pay in installments and then finish the payment on the spot. Visa explained that this service was not available before but will now allow greater convenience for shoppers traveling abroad.

DealMe has plans to use Visa’s global payment network to support this service. The company reported that it signed an agreement with Visa’s Asia-Pacific office in November 2024 to work on the project.

DealMe stated that the service will first be tested in South Korea and will later expand to other regions. The company shared that these regions include Vietnam, the United States, Australia, Japan, and Singapore.

Ms. Dung Dang, Visa Country Manager for Vietnam and Laos, stated that the partnership will help improve cross-border payments in Vietnam.

She explained that the timing for this project is good since South Korea is a favorite travel destination for Vietnamese travelers, and tourism in Vietnam is also improving.

Visa Wants To Support Digital Payment Growth And Traveler Convenience

Dang noted that this new installment payment service will support travelers coming into and leaving Vietnam while also helping to boost the country’s digital payment systems.

Mr. Kim Tae Hong, a senior vice president at DealMe, shared that the company is happy to work with Visa on this project. He said the new service will give travelers another way to pay for their purchases when they travel abroad.

Visa is a global payment company based in San Francisco, California. It helps people and businesses transfer money electronically, often through its credit, debit, and prepaid cards.

Visa explained that it does not issue cards or provide credit directly. Instead, it works with banks and other institutions, which then offer Visa-branded payment products to their customers.