NextPay.vn, a Vietnamese fintech firm owned by NextTech Group, launched the Next360.vn digital transformation ecosystem serving one million micro-small and medium enterprises (MSMEs), with the aim of contributing an additional US$15 billion to national total GDP in the next five years.

Delegates attend the ceremony on March 31 in Hanoi. Photo: NextPay

With roughly VND560,000 (US$24.2) per month, the MSMEs will be able to use a set of 20 products for digital transformation. The products will solve the problems of four main business areas such as corporate governance, sales, payments, sourcing, and capital. 

Covid-19 is the driving force for the progress of digital transformation. However, the MSMEs and SMEs, accounting for 96.7% of total enterprises in Vietnam, have not yet approached digital transformation due to lack of experience and solution providers’ interest.

According to a recent survey conducted by NextTech, companies providing digital transformation solutions often focus on the government sector and large enterprises with high budget.

Meanwhile, MSMEs have many limitations about the solvency and investment in digital transformation. “Next360 ecosystem is a solution for the issues,” Nguyen Huu Tuat, CEO of NextPay told the opening of the ceremony on March 31 on Hanoi.

NextPay continuously invests in joint ventures to help small startups access a network of hundreds of thousands of SMEs nationwide in its parent’s ecosystem.

The fintech firm plans to invest millions of dollars in sales management software PosApp, customer service startup MySpa and electronic invoice service provider MegaBiz.

At the event, NextTech announced the launch of Next Academy with the goal of vocational training for consultants and implementing digital transformation.