From Traditional Cross-Border Transfers to Instant Payouts

For decades, international money transfers from the U.S. to Vietnam have relied heavily on traditional payment rails such as SWIFT and Automated Clearing House (ACH). While widely adopted, these systems are inherently slow, operating on batch-based processing and limited cut-off times. As a result, recipients often wait 1–5 business days, or longer, for funds to arrive.

This delay creates tangible challenges for both individuals and businesses, including reduced liquidity, limited cash flow visibility, and difficulties in financial planning—particularly in a remittance-driven economy like Vietnam.

According to the World Bank’s Remittance Prices Worldwide report (March 2025), the global average cost of sending a USD 200 international remittance reached 6.49% in Q1/2025, up from 6.26% in Q4/2024. This figure reflects the level of costs incurred by customers, without factoring in latency-related considerations.

These structural inefficiencies underscore a critical question: Can U.S.–Vietnam remittance become faster, more transparent, and more predictable?

The Edge of “Take 1–5 Business Days” in International Payments

As the digital economy accelerates, consumer and business expectations around payments have fundamentally shifted. Speed, availability, and certainty are no longer competitive advantages—they are baseline requirements.

The Capgemini World Payments Report 2023 projects that global non-cash transactions will grow at a CAGR of 16.6% starting from 2023, with total transaction volume expected to reach 2.3 trillion by 2027, nearly doubling compared to 2022.

This growth is driven by three structural trends:

• Rapid expansion of instant payment infrastructures
• Wider adoption of open banking frameworks
• Regulatory pressure and innovation initiatives aimed at modernizing payment ecosystems

Within this context, delayed settlement models are increasingly incompatible with real-time economic activity.

What Are Real-Time Payments in the U.S.?

Real-time payments refer to transactions that are processed and settled in real time, operating 24/7/365 without reliance on banking hours or cut-off times. This represents a significant departure from legacy systems.

In the United States, two core real-time payment systems are shaping the market:

RTP Network (The Clearing House)

Launched in 2017, the RTP Network enables instant payments with transaction limits of up to USD 10 million, covering more than 70% of U.S. demand deposit accounts (DDAs).

FedNow Service (Federal Reserve)

Officially launched in July 2023, FedNow expands real-time payment capabilities to a broader range of financial institutions, supporting transaction values of up to USD 1 million and reaching over 30% of U.S. Demand Deposit Accounts (DDAs).

Together, these infrastructures are redefining the standard for domestic payments in the U.S.—and setting new expectations for cross-border remittance providers.

Key Challenges of Real-Time Cross-Border Payments

Despite their success domestically, real-time payment systems in the U.S. face significant limitations when applied to cross-border remittance, including U.S.–Vietnam corridors.

Fragmented Global Infrastructure

RTP and FedNow were designed primarily for domestic use. Once a payment exits U.S. rails, it must traverse a complex global network involving multiple currencies, correspondent banks, operating hours, and regulatory regimes—each adding friction and delay.

Foreign Exchange (FX) Costs and Volatility

FX conversion remains a major cost driver in international remittance. Exchange rate volatility introduces uncertainty for both senders and recipients, complicating cash flow forecasting and increasing total transaction costs.

Regulatory and Compliance Requirements

Cross-border payments require robust AML, KYC, and sanctions screening across multiple jurisdictions. While essential for financial integrity, these processes can significantly slow transaction settlement.

These challenges explain why, despite advanced infrastructure, the U.S. still trails behind countries with more integrated real-time ecosystems such as Brazil’s PIX or India’s UPI.

Why Real-Time Payments Matter for U.S.–Vietnam Remittance

According to the World Bank and KNOMAD, Vietnam consistently ranks among the World’s top 10 remittance-receiving countries. Ho Chi Minh City accounts for the largest share, attracting over USD 10.3 billion in 2025—an increase of more than 8% year over year. Of this total, remittance inflows from the Americas reached USD 3.2 billion, surging by nearly 128%.

This reflects the income recovery of Vietnamese communities in the United States, alongside a growing trend of remittance flows supporting investment, consumption, and family assistance in Vietnam. The Americas continue to represent a high-value remittance corridor, maintaining relatively stable growth over recent years.

Remittance plays a critical role in Vietnam’s economy by:

• Supporting household consumption
• Enhancing financial inclusion
• Stabilizing the balance of payments
• Contributing to long-term economic resilience

Given the strategic importance of this corridor, improving speed, transparency, and cost efficiency in U.S.–Vietnam money transfers has direct implications for both economic sustainability and user experience.

How FinFan Enables Faster U.S.–Vietnam Money Transfers

Working with licensed U.S. partners, FinFan is a fintech company focused on enabling **fast, secure, compliant, and cost-efficient money transfers from the U.S. to Vietnam. **

By leveraging a diverse international partner network and operating in full compliance with Vietnamese regulations, FinFan enables real-time transaction processing subject to compliance checks, significantly reducing settlement times for recipients.

Key advantages include:

• Rapid processing, allowing recipients to access funds instantly (T+0/T+1 subject to compliance checks)
• Flexible payout options, including bank accounts and e-wallets
• API-driven architecture, enhancing security, scalability, and operational efficiency

Through this approach, FinFan helps bridge the gap between U.S. real-time payment infrastructure and Vietnam’s local settlement ecosystem.

Contact FinFan today via hotline (+84) 28 6685 3317 or email support@finfan.vn to receive expert consultation on fast, secure, and transparent international money transfer solutions.

Reference

• World Bank. (2025). Remittance prices worldwide: Main report and annex (Q1 2025). (https://remittanceprices.worldbank.org/sites/default/files/rpw_main_report_and_annex_q125_1_0.pdf)
• Wise. (2025, September 26). How long does a wire transfer take? US guide (https://wise.com/us/blog/how-long-does-a-wire-transfer-take)
• U.S. Bank. (n.d.). Transform your business in real-time with instant payments. (https://www.usbank.com/corporate-and-commercial-banking/treasury-payment-solutions/treasury-management/faster-payments/real-time-payments.html)
• State Bank of Vietnam. (2023, December 23). Thanh toán không tiền mặt toàn cầu tiếp tục tăng nhanh. (https://www.sbv.gov.vn/vi/web/sbv_portal/w/sbv585464 )
• Bao Cao Vien. (2025). TP. Hồ Chí Minh: Dự báo kiều hối đạt kỷ lục 10,5 tỷ USD trong năm 2025. (https://baocaovien.vn/tin-tuc/tp-ho-chi-minh-du-bao-kieu-hoi-dat-ky-luc-10-5-ty-usd-trong-nam-2025/374889.html)
• Thunes. (2025, November 27). Why real-time isn’t real yet for US cross-border payments. (https://www.thunes.com/insights/learn/us-cross-border-payments)
• Visa. (2025, December 12). Beyond Detection: How Fraud Scoring Transforms Risk Management For Modern Banks. Forbes. (https://www.forbes.com/sites/visa/2025/12/12/beyond-detection-how-fraud-scoring-transforms-risk-management-for-modern-banks/)
• Jiko. (n.d.). The Real-Time Payments Race: Where the U.S. Stands and What’s Next. (https://www.jiko.com/blog/the-real-time-payments-race-where-the-us-stands)
• Trang, Q. (2026, January 22). Hơn 10 tỷ USD kiều hối về TP HCM. VnExpress. (https://vnexpress.net/hon-10-ty-usd-kieu-hoi-ve-tp-hcm-5008827.html)