Insights from the Sandbox mechanism – A major opportunity for Bold Fintech companies in Vietnam

Fintech companies in Vietnam are entering a booming phase—not only thanks to market potential but also due to strong support from macro-level policies promoting innovation and digital transformation. Vietnamese fintechs are now operating within a legal framework and a business environment more favorable than ever for technology enterprises, especially in the field of digital finance.

Policy Unlocking for Technology: The Sandbox Mechanism and Institutional Vision

On July 1, 2025, Decree 94 will officially take effect, establishing for the first time a regulatory sandbox for fintech companies operating in the banking sector. This breakthrough move allows credit institutions, foreign bank branches, and fintech companies to test new models and services in a controlled but flexible environment—under the direct supervision of the State Bank of Vietnam.
Three fintech areas prioritized in the sandbox's initial phase include:

• Credit Scoring: Leveraging AI and big data to assess creditworthiness of individuals and businesses, thereby expanding credit access to customer segments without traditional credit histories.
• Data Sharing via Open API: Developing an open banking ecosystem that allows third parties to securely and transparently access financial data, driving innovation in financial services.
• Peer-to-Peer (P2P) Lending: Directly connecting borrowers and lenders through digital platforms, reducing costs and improving capital access efficiency.

At the same time, Resolution 68 from the Politburo clearly outlines the direction for completing the legal framework for technology-based business models—including fintech, AI, blockchain, virtual assets, and e-commerce—thereby accelerating innovation and digital transformation within the private sector.

It can be said that policy has paved the way—now the breakthroughs must come from the enterprises themselves. With this support, fintech companies are not only granted space to experiment but also gain access to capital, strategic partnerships, and high-growth opportunities.

9Pay: Seizing Trends, Advancing Through Technolog

In the context of open policies and rapid transformation, 9Pay has clearly defined its technology strategy and pioneering role. As one of the licensed payment intermediaries by the State Bank of Vietnam, 9Pay aims to become a Global Payment platform that is intelligent, stable, and borderless—built upon three strategic pillars:

• Comprehensive Payments with Global Reach: 9Pay is developing B2B peer-to-peer (P2P) and real-time cross-border payment solutions, facilitating seamless transactions between Vietnam and international markets.
• AI-Driven Data and Personalized Experiences: 9Pay applies artificial intelligence to analyze user behavior, forecast demand, and conduct non-traditional credit scoring—delivering more tailored and secure financial solutions for both businesses and individual users.
• Open and Flexible Ecosystem: The goal is to become an open financial platform, enabling other fintechs to build applications on top of 9Pay’s infrastructure, creating a multi-dimensional digital ecosystem that enhances connectivity and generates synergistic value.

As policies open up numerous opportunities and technology becomes a critical competitive advantage, fintech enterprises must not only innovate, but also choose strategic directions aligned with long-term growth.

The sandbox is not merely a testing environment—it’s where technological ideas are validated, refined, and made ready to scale. With a flexible mindset, practical technology implementation, and a commitment to addressing real market needs, 9Pay is approaching this opportunity with substance and strategy—rooted in Local Trust, aiming for Global Payment leadership.

Read more:

• Vietnam’s Fintech and digital payments at golden turning point as private sector gains momentum

• When Economic reform and Vietnam Fintech share the same spirit