TerraPay, a global money movement company, has partnered with HDBank, one of Vietnam’s leading commercial banks known for its strong retail and SME franchise, to enable real-time outbound international payments from Vietnam to bank accounts and mobile wallets worldwide.
Vietnam’s outward remittance market was valued at approximately US$275 million in 2025, and is forecast to grow to US$346 million by 2030 — a CAGR of 4.69% — reflecting rising outbound payment demand from Vietnamese businesses and individuals. Yet as this demand grows, many banks remain constrained by traditional correspondent banking arrangements — multiple intermediaries, added cost, and limited visibility into payment status. For a market with rising international payment needs, this creates a real bottleneck.
Through this partnership, HDBank customers gain access to TerraPay’s global payout network spanning more than 156 countries and territories. By leveraging its existing Swift connectivity, HDBank can offer this without significant capital expenditure, technology upgrades, or complex integrations. Customers continue to initiate international payments through HDBank as they always have, while TerraPay manages delivery to overseas bank accounts and digital wallets — reducing the complexity associated with traditional correspondent banking arrangements and helping HDBank bring new cross-border payment capabilities to market faster, while maintaining a familiar banking experience.
For HDBank’s retail and SME customers, this means real-time outbound payments, faster delivery to overseas suppliers, partners and beneficiaries, and a simplified international payment experience — backed by a trusted banking relationship.
Mr. Huynh Trung Minh Title – Director of Bancassurance and Affiliate Partner Development said: “Known for its strong retail banking franchise and growing SME business, HDBank continues to invest in digital banking and innovative customer solutions. Partnering with TerraPay empowers us to bring real-time international payments to our customers without asking them, or our infrastructure, to change. It’s a strategic step forward in supporting Vietnam’s expanding trade and business ecosystem.”
Ani Sane, Co-Founder and Chief Business Officer, TerraPay said: “Banks like HDBank sit at the heart of how a country transacts with the world, and correspondent banking was never built for the speed today’s outbound payment demand requires. This partnership gives HDBank a direct route to global reach through infrastructure they already trust, so they can bring new capabilities to market faster and without disruption.”
Through this collaboration, HDBank strengthens its position as a forward-looking bank supporting Vietnam’s growing international trade and business ecosystem, while TerraPay continues to build on its role as a trusted infrastructure partner for banks and financial institutions seeking seamless global connectivity.