Retailers digital transformation

SmartPay has just supported around $8.7 million for Vietnamese small- and medium-sized businesses (SMEs), while other e-wallets focused on incentives to end-users. Why did SmartPay favour this group of customers? Marek Forysiak, chairman of SmartPay Since its establishment, SmartPay has chosen a different mission and direction to accompany the prosperous development of millions of Vietnamese small businesses. Until now, SmartPay is still the first and only payment platform to invest in and support retail merchants who are being neglected in the process of digitalisation. Retailers now account for nearly 30 per cent of SmartPay’s frequent customer base – that is nearly 600,000 retailers of around two million users – more than other e-wallets. Offering interest-free credit lines through an e-wallet platform is also associated with SmartPay’s distinct competitive advantage in the vibrant digital payment market. During the process, SmartPay continuously surveys and … [Read more...] about Creating distinct and vibrant digital payment alternatives

Technology M&A to retain booming growth in 2022 Nguyen Cong Ai, partner at consulting firm KPMG Vietnam, said that the country has the potential to grow into an up-and-coming startup centre in Southeast Asia, buoyed by favourable macroeconomy, a burgeoning middle-class with ever-increasing income, and abundant tech-savvy human resources, as well as the government’s supportive policy. “Foreign investors are showing particular interest in Vietnam’s tech field. Lately, we are receiving growing proposals from South Korean and Japanese investors towards Vietnam’s internet economy, fintech, edutech, and media,” he said. KPMG forecasts that investment into tech would shoot up 150 per cent in 2022, hitting $2 billion. Nguyen Thanh Tuyen, deputy head of the Information Technology Department under the Ministry of Information and Communications, said that many sizable deals took place in the M&A scene during 2019-2021. For instance, VNPay received $300 million from SoftBank … [Read more...] about Technology M&A to retain booming growth in 2022

Electricity market revamp on cards The Electricity Regulatory Authority of Vietnam (ERAV) is finalising its report to the prime minister about planned direct power purchase agreements (DPPA) – a mechanism to allow renewable energy producers to sell electricity directly to end-users, as Nguyen Anh Tuan, director of the authority said on January 18. The DPPA mechanism, if implemented, will be the first step in the development of the electricity retail market, allowing renewable energy generators with a capacity greater than 30MW to sell to customers for industrial production purposes. Parties can negotiate and agree on purchase and sale prices through long-term contracts if the scale of their deal is not exceeding 1,000MW. Since 2012, the electricity market has contributed to increasing transparency in mobilising power plants, creating a competitive environment, enhancing the initiative of market participants, and gradually abolishing the monopoly in the industry. The success … [Read more...] about Electricity market revamp on cards

As demand for internet-based services continues to soar, the revamped ManuConnect customer portal offers users an online platform that provides security, simplicity, and convenience. Manulife Vietnam continues to accelerate its rollout of digital solutions with the launch of the refreshed customer website, delivering an enhanced and simpler platform that makes it easier for the insurer's more than 1 million customers to self-manage their account. As demand for internet-based services continues to soar, the revamped ManuConnect customer portal offers users an online platform that provides security, simplicity, and convenience. According to the Manulife Asia Care Survey released in February 2021, respondents from Vietnam claimed they were more open to using digital self-service for less complicated servicing needs. The survey also showed that 75% of respondents from Vietnam indicated a preference to take more control of their own insurance by digitally … [Read more...] about Manulife Vietnam launches revamped customer portal that offers new user-friendly experiences