With a largely unbanked population, Vietnam holds promise for BNPL services if strategies and regulations prove sound, writes Dr. Pham Nguyen Anh Huy from RMIT University Vietnam.
According to Research & Market, buy-now-pay-later (BNPL) services hold great potential in Vietnam. The service is expected to reach more than $1.1 billion this year, up 126.4 per cent compared to 2021, and $10.5 billion by 2028, an increase of 21-fold against 2021.
The “Buy Now, Pay Later” (BNPL) solution promises to explode in Vietnam and will also see fierce competition in the time to come. The absence of specific regulations in Vietnam, however, poses certain risks.
The Kredivo Vietnam Joint Stock Company launched a lending technology application platform using the “Buy Now Pay Later” (BNPL) solution on August 27 in Ho Chi Minh City. The platform will officially go into operation in the fourth quarter. The BNPL model in Vietnam is considered a “bright spot” in helping businesses and investors confidently join the market.
Ngày 27/8/2021, tại Tp. HCM Công ty Kredivo Việt Nam chính thức công bố ra mắt tại thị trường Việt Nam để phát triển nền tảng ứng dụng công nghệ cho vay “Buy Now Pay Later” thông qua hợp tác chiến lược với Công ty Phoenix Holdings. Đối tác được lựa chọn để triển khai ứng dụng này là Công ty Tài chính Cổ phần Tín Việt (VietCredit)...