How innovative fintech is helping small business in cross-border payments

According to a World Bank report, small and medium-sized enterprises (SMEs) account for approximately 90% of all businesses. SMEs are not only a key driver of domestic economic growth but are also playing an increasingly important role in the global supply chain. However, expanding internationally remains a significant challenge for many SMEs.

Challenges SMEs face in cross-border payments

For many SMEs, entering foreign markets involves more than just developing the right product or capturing market share. The complexity often lies in managing cross-border payments and financial operations.

High transaction costs are one of the most common barriers. Smaller SMEs lack the negotiation power of large enterprises, resulting in unfavorable fees and exchange rates that directly impact profit margins. Moreover, delays in payment processing can disrupt supply chains and damage business continuity.

Even more challenging is navigating the host country’s regulatory and foreign exchange systems. International SMEs often lack dedicated in-house legal or compliance teams to manage foreign transactions, which increases the risk of operational issues.

Fintech as a barrier breaker

In this context, financial technology (Fintech) companies are emerging as key enablers for SMEs, offering innovative, flexible, and technology-driven solutions to longstanding pain points.
One of Fintech’s primary advantages is its ability to optimize costs and reduce processing time. With advanced infrastructure and real-time data processing capabilities, Fintech platforms allow SMEs to conduct near-instant transactions with transparent fee structures. Digital payment platforms also enable easy transaction monitoring and reconciliation.
Beyond being service providers, some Fintech firms now also act as legal and compliance advisors. They help SMEs understand and comply with tax regulations, foreign exchange controls, and establish transparent transaction processes—an essential foundation for any SME looking to expand into developed markets or attract international funding.

9Pay – Supporting global partners in Vietnam

Among Fintech companies operating in Vietnam, 9Pay stands out as one of the few entities licensed by the State Bank of Vietnam to provide cross-border payment services. As a payment intermediary, 9Pay not only offers efficient transaction processing systems but also supports international partners in adapting to Vietnam’s complex legal and regulatory requirements—from tax documentation and foreign exchange oversight to cash flow transparency.

What sets 9Pay apart is its ability to “tailor” financial solutions to each specific business model. Rather than applying a one-size-fits-all approach, 9Pay works closely with each client’s legal and operations teams to develop optimized payment strategies—ensuring cost control, faster processing, and full regulatory compliance.
In addition, 9Pay’s team includes professionals with deep expertise in international taxation and legal frameworks. This enables them to advise international partners on local regulations and ensure full compliance, helping to mitigate risks and build long-term, trusted business relationships.

With a deep understanding of local regulations and a strong global mindset, 9Pay is committed to becoming a reliable bridge between international businesses and the Vietnamese market—not only in payments, but also in compliance management and strategic expansion.