With the launch of its revamped offering, Kredivo and VietCredit pioneer by providing a very unique product in the Buy Now Pay Later space across the country, in line with its ambition to bring innovative payment solutions to the Vietnamese market, for the benefit of the Vietnamese people.

According to Kredivo, the Vietnam e-commerce industry has some similarities with Indonesia in respect of the tremendous potential it represents as well as some of the challenges both face. In Indonesia, Kredivo has contributed to remove the obstacles of the country's online retail industry by introducing the most advanced digital credit payment method, enabling Kredivo’s 5 million+ users in Indonesia to get instant access to flexible and affordable credit, and the merchant partners also benefit from instant point-of-sale financing, powered by its unique 2-click checkout. That makes Kredivo a market leader with at least 50 percent Buy Now Pay later wallet share across most of the major Indonesian e-commerce merchants.

Valery Crottaz, Chief Capital Officer & Head of International Expansion of FinAccel, parent of Kredivo, said, “As a superior transaction engine for e-commerce, Kredivo is a sales enabler for merchants. Merchants using Kredivo see 30-50 percent increase in the average order value and very high user stickiness.”

Kredivo's Buy Now Pay Later platform allows customers to make their purchases instantly and choose to pay in 30 days, 3, 6 or 12 months with the simplicity of 2 clicks at the checkout. Upon registration, customers get access to a revolving credit limit through a mobile application.

“More than 60 percent of our users get their first credit through Kredivo. We believe that Kredivo's Buy Now Pay Later will enable financial inclusion in a responsible, convenient, safe, and affordable manner, further driving growth in the Vietnam e-commerce to the next level,” added Valery.

Kredivo is operated by FinAccel, a Singapore headquartered financial technology company, with a mission to make financial services fast, affordable and accessible. FinAccel is backed by leading investors such as Victory Park Capital, Mirae Asset, Naver, Square Peg Capital, Telkom Indonesia and Jungle Ventures, among others. Kredivo Vietnam Joint Stock Company is a Joint Venture with Phoenix Holdings, a company having investments in diversified fields of consumer, financial services, retail and technology sectors.

VietCredit is a finance company that pioneers in distribution of domestic credit cards; and currently one of the market leaders in the domestic credit card segment - the unique financial solution in the consumer financing market.

PV