Mastercard Vietnam
An active member of the American Chamber of Commerce (AmCham) in Vietnam for 4 years, and as a leading technology company in the global payments industry, Mastercard provides valuable insights and expertise to help drive the conversation on financial technology in the country.
1. Tell us about Mastercard and how long has Mastercard been a member of AmCham?
Mastercard is a leading technology company in the global payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and network, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments, and businesses realize their greatest potential. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
Mastercard has participated as a member of the American Chamber of Commerce (AmCham) in Vietnam for 4 years to connect with the strong network of businesses and leaders dedicated to driving progress and economic development in Vietnam. Mastercard and AmCham prioritize the importance of creating an inclusive digital economy in Vietnam by facilitating and accelerating the adoption of digital transformation and a cashless economy, which contributes to a broader financial inclusion.
AmCham is well-regarded for its dedication to advocacy, networking, and commitment to promoting a supportive business environment. Mastercard values collaboration and the exchange of knowledge is vital to driving innovation and achieving success, and we have found AmCham to be an excellent platform to facilitate these endeavors.
2. As a member, which Committee is Mastercard involved in? And why did Mastercard join this particular Committee?
Mastercard is an active member of two committees within AmCham: the Digital Economy & Technology Committee and the Capital Market & Financial Services Committee. The company’s involvement in these committees aligns with its global commitment to bring 1 billion people into the digital economy, assist 50 million small and micro merchants, and focus on providing 25 million women entrepreneurs with solutions to help them grow their businesses by 2025.
As of the end of 2023, in collaboration with our partners across the world, Mastercard has connected over 870 million people and 48 million small businesses to the digital economy, and provided solutions for 37 million women entrepreneurs. Serving as the Board Liaison for the Digital Economy & Technology Committee, Mastercard collaborates closely with fellow members to advance initiatives that are crucial for Vietnam’s economic growth.
In both committees, Mastercard has been involved in various campaigns aimed at promoting e-commerce adoption. Through AmCham’s insightful events, Mastercard has had the opportunity to support businesses, particularly small and medium-sized enterprises (SMEs), in their post-COVID recovery. For example, during the seminar ‘Road to Economic Growth’ as part of AmCham’s Cross-Border E-Commerce event series, Mastercard provided innovative payment tools and solutions to help SMEs exporting to the U.S. market enhance their capacity.
3. How does Mastercard complement AmCham’s efforts to promote digital economy/ fintech, and resultant financial inclusion in Vietnam?
Mastercard supports AmCham’s efforts to promote the digital economy and financial inclusion in Vietnam through various initiatives. As a global leader in digital payment solutions, Mastercard provides valuable insights and expertise to help drive conversations on payments technology.
Mastercard actively promotes the adoption of e-commerce among small and medium enterprises (SMEs) by providing solutions that enabling them to continue operations despite the challenges posed by the pandemic. This aligns with AmCham’s goal of fostering a conducive environment for the growth of the digital economy in Vietnam.
In addition, Mastercard has contributed to the discourse on the current economic landscape in Vietnam. For instance, during the ‘Vietnam’s Economic Outlook – Thriving in Uncertain Times’ event in Ho Chi Minh City in 2022, Mastercard shared insights on the latest consumer trends and developments in digital payments. This information was crucial for enterprises, especially the SMEs, as they had to formulate and strengthen their business strategies in the wake of COVID-19.
Mastercard’s efforts are aimed at helping businesses, particularly SMEs, embrace the digital economy. These efforts are well aligned with AmCham’s goals and Vietnam’s push towards a cashless society.
LE & TRAN Law Corporation - Mr. Stephen Le
Founder & Lead Counsel of LE & TRAN and a member of AmCham for over 07 years, Stephen is a multi-award-winning attorney who is widely-regarded as one of Vietnam’s preeminent trial lawyers.
1. How does AmCham’s vision align with your personal values and beliefs?
The heart of a vibrant business community? It’s not forged in steel and contracts, but in the fire of honesty and integrity. We need to be not just legal eagles, but champions for our clients and those we stand for. We delve into their dreams, feel the sting of their struggles, and become their guardians through every twist and turn. Because sometimes, the journey towards a solution is far more valuable than the destination itself.
At AmCham, this human touch is my battle cry. Let’s forge bonds, not just deals. Let’s stand shoulder-to-shoulder, a united front. Because problems may be complex, but together, with empathy as our compass, we’ll find creative solutions to bring down imaginary walls and leave a lasting impact.
This is way more than business. This is about building a community that thrives on trust and collaboration.
2. How do you contribute to the growth and development of industry stakeholders as an AmCham member?
Integrity and cooperation aren’t just words on a plaque, they’re the lifeblood of my world! It’s the same fire that burns in AmCham’s commitment to diversity, equity, and transparency. We’re not playing a solo game here. Partnerships between enterprises are like forging alliances in a grand quest for knowledge. Learning is an unending feast, and I’m always hungry! At both Le & Tran and AmCham, we’re a vibrant tapestry of nationalities, working side-by-side in the offices, at events, or across the miles – it’s this diversity that fuels our innovation! We share our expertise, learn from each other, and together, our collective brilliance explodes.
As part of AmCham, I dream of becoming a bridge, a colossus connecting businesses from Vietnam, Southeast Asia, the Americas, and beyond! This incredible community isn’t just a platform – it’s the engine that allows me to empower our members, propelling us all towards shared prosperity. I’m honored that AmCham has been a catalyst for Le & Tran’s growth, unlocking invaluable professional development and networking opportunities. Collaboration on various fronts including co-hosting legal seminars for AmCham members has enabled us to connect with brilliant legal minds globally, facilitating meaningful exchanges of knowledge and expertise. Let’s not forget the 23rd Annual Thanksgiving Turkey Shoot Golf Tournament hosted by AmCham – I may have missed out on my hole-in-one, but lasting relationships with regional stakeholders were indeed forged!
3. How do you balance your personal life between Le Tran and AmCham?
Work-life balance? That’s not a juggling act, it’s a beautiful symphony! It all starts with clear boundaries, like firewalls protecting the precious time I have with my family. Time management might sound rigid, but it’s the secret melody that keeps my days humming.
In my engagements with AmCham, hosting legal seminars emerges as a personal highlight of mine, and I find profound satisfaction in active interaction with industry luminaries and thought leaders. At Le & Tran, I’ve cultivated a dream team who are more than just colleagues; they’re family. We trust each other to excel in our respective roles, empowering one another to contribute our best.
A true leader doesn’t tightly hold the reins but empowers each team to create masterpieces together. This approach allows me to be fully present for both AmCham and the firm, knowing that my family always has their dedicated conductor – me – at home. Family dinners won’t be missed, bedtime stories won’t be skipped because the most fulfilling success is the one shared with loved ones.