SEA neobank Circle Asia to launch Vietnam's AI paylater card

Circle Asia Technologies plans to launch Vietnam’s first AI-powered PayLater card in early 2026 through a partnership with Visa and Pismo.

The new card will use Pismo’s API-based platform to offer instant credit approval, flexible installment options, and virtual payments without requiring a bank account.

Circle says it aims to address Vietnam’s low credit card adoption by using AI to assess risk and underwrite customers within five minutes.

The rollout will be supported by a local commercial bank to meet compliance standards.

Visa acquired Pismo in 2024, and the collaboration leverages Visa’s payments infrastructure with Pismo’s cloud-native technology.

The initiative is intended to expand access to credit and digital payments in Vietnam.

🔗 Source: Circle Asia Technologies

🧠 Food for thought

Implications, context, and why it matters.

Vietnam’s Buy Now, Pay Later surge comes from mainstream adoption and credit access

BNPL use in Vietnam rose from 17% in 2022 to 49% in 2025, with strong pickup among 25-34s and women 1. Low credit card penetration and credit access still matter 2. Many shoppers pick installments for flexibility.
BNPL has moved from alternative credit to a mainstream payment that influences purchase decisions like discounts or free shipping 1. Circle’s AI-powered card arrives in a market where flexible payments are expected.
Digital payments reached nearly $24 billion in 2024, and 95% of customers used some cashless method 3. Buyers want choice and convenience at checkout.

E-commerce platforms and checkout providers can lift conversion with embedded BNPL

For merchants and payment service providers in Vietnam, flexible payments now move conversion alongside shipping costs 1. Shopee, Lazada and Tiki fuel electronic payments 3. Put installments in clearer view to raise completed orders.
Vietnam’s BNPL market is on track to hit $2.6 billion in 2025, up 36.8% year over year 3. Checkout Software-as-a-Service firms and payment gateways can integrate multiple BNPL providers, then A/B test (run randomized experiments comparing two options) for each segment.
MoMo, a popular Vietnamese e-wallet app, offers installments with up to 45 days delayed payment 3. Payment apps can add BNPL features to raise transaction frequency and basket size.