Supporting small traders in digital transformation

Comprehensive digital transformation is regarded as a "golden key" to help businesses and small traders accelerate and overcome difficulties.

Convenient implementation of e-invoices

Since June 1, 2025, Government Decree No. 70/2025/ND-CP dated March 20, 2025, amending and supplementing a number of articles of Decree No. 123/2020/ND-CP dated October 19, 2020 on invoices and documents, requires household and individual businesses in certain sectors with annual revenue exceeding 1 billion VND to use coded e-invoices issued from cash registers directly connected to the tax authorities.

In response, many banks have promptly implemented technology solutions to support the issuance of e-invoices for household businesses, traditional market traders, and online sellers. For example, VPBank has partnered with Shopee to launch a Buy Now Pay Later (BNPL) product, helping online sellers increase their average revenue by 20%. This product allows customers to pay in instalments without needing a credit card.

In addition, the bank applies a credit scoring system based on e-commerce transaction data, supporting household businesses to access loans of up to 500 million VND without collateral. Similarly, TPBank has collaborated with MoMo, a financial app with over 30 million user accounts, to launch a Postpaid Wallet, allowing small traders to use flexible credit limits for payments and purchases. TPBank is now also offering a mobile card reader (mPOS) integrated with e-invoices, helping traders manage revenue and tax reporting, thereby meeting e-invoice requirements. According to EY, a firm providing audit, tax, financial, and consulting services, the Postpaid Wallet by TPBank and MoMo has supported over 50,000 small traders in quickly accessing funds without collateral.

Recently, Techcombank and partners Misa and Sapo have launched a joint programme to support small traders in digital transformation. The parties are offering over 50% discounts on accounting and sales software, assisting in integrating digital signatures, and promoting cashless banking applications. Notably, Techcombank provides up to 500 million VND in credit via the Shopcash app and waives tax payment fees on eTax Mobile.

Vu Ngoc, COO of 9Pay, said that in addition to banks, technology-platform companies and payment intermediaries like 9Pay are also keenly aware of their role and responsibility in accompanying the private sector, especially individual and household businesses which form a large and essential part of the value supply chain across all aspects of life. "Small-scale trading is still doing business. Ninety percent of Loa TingTing users are small traders and individual business households. Many of them want to expand, but accounting, tax procedures and technology are still complex and difficult to access. We are here to accompany them, making the transition easier, more efficient, and more transparent," said Vu Ngoc.

Supporting transformation of business models

In fact, to promote the transition from household businesses to formal enterprises in line with state policy, 9Pay JSC, a payment intermediary licensed by the State Bank of Viet Nam, is actively implementing a support programme for small traders and household businesses with suitable solutions for the digital economy era.

The programme aims to provide practical and effective support to micro and small enterprises and household businesses, helping them transition into formal enterprises through comprehensive, easy-to-integrate payment and transaction management solutions that are accessible even to those unfamiliar with technology. Key support includes assistance in business conversion registration for shop owners using 9Pay’s Loa TingTing solution via the Loatingting.vn app; providing a real-time revenue and transaction management platform to help shop owners control cash flow; integrating QR payments and fund transfers to improve user experience; supporting e-invoice issuance and tax declaration in compliance with regulations.

According to a 9Pay executive, this roadmap will be completed by the third quarter of 2025, enabling small traders to meet all legal requirements. In addition, banks such as Vietcombank are also actively supporting household businesses in becoming enterprises by designing and implementing a free consulting programme on financial reporting and e-invoice application.

According to the bank, the programme helped over 2,000 household businesses register as enterprises in 2024, with 70% successfully adopting e-invoices. Thus, Decree No. 70/2025/ND-CP with its revised and supplementary provisions on invoices and documents is expected to promote the use of e-invoices, enabling small-scale traders to better manage revenue, inventory, and costs. This also provides banks with sufficient data to assess credit and develop automated and online lending models.

Experts note that household businesses using sales management software, issuing e-invoices, and proving transparent cash flows will have better access to bank loans, thereby gaining resources to expand and grow into full-fledged enterprises. Meanwhile, many small traders supported by commercial banks in the digitalisation process share the view that these digital financial solutions help them embrace technology more easily and meet financial management and tax obligations more effectively. 

Source: https://en.nhandan.vn/supporting-small-traders-in-digital-transformation-post149947.html