Digital Banking

Kredivo expands digital credit platform into Vietnam

Image via iStock.com

September 3, 2021

Kredivo, a digital credit platform, has expanded into Vietnam through a joint venture with Phoenix Holding. This venture, which will be called Kredivo Vietnam Joint Stock Company, will utilize Kredivo's PayLater platform and Phoenix Holding's local network, according to a press release.

The company will offer products such as point-of-sale financing, two-click checkout and more for both ecommerce and in-store purchases. Kredivo will launch its products in the country gradually, starting with bill payments and personal loans and later ecommerce buy-now, pay-later solutions.

"Kredivo and Phoenix share a mutual vision of financial inclusion and access. Together we want to make credit and financial services more easily available to those who qualify for and need it. In Vietnam, with a golden generation that is upwardly mobile and digital native, our services like Buy Now Pay Later will cater to a consumer needs where other credit services come with unreasonably high barriers," Nguyen Lan tung Anh, CEO of Phoenix Holdings, said in the release. "As in other markets, we believe BNPL will unlock and catalyze another important growth stage of the Vietnam economy."