BE Group and VPBank tie up to roll out payment and financial services

Ride-hailing firm BE Group partners with VPBank to launch payment and financial services

beFinancial, the new financial service developed by BE Group, will be one of the best mobile financial service platforms for Vietnamese people to meet the needs in daily life, as well as support the business activities of large businesses and small- and medium-sized enterprises. beFinancial provides VPBank’s financial services in the technology and fintech ecosystem of be, including payment, loyalty & reward, and financial services.

The partnership with VPBank in the financial sector will be the start and the first step towards BE Group's goal of creating an open technology ecosystem. It will develop into a platform rather than an application, allowing and welcoming other service providers to join.

In 2019, Be Group and VPBank will co-operate to launch payment and financial services for individual consumers, drivers, and corporate customers. The two will issue the co-branded credit/debit card for quick, convenient, and safe payment for products and services with many attractive incentives. Thus, individual consumers will enjoy loans with attractive interest rates and quick procedures through the co-branded card.

This strategic partnership will also provide a clear, secure, and transparent financial payment and management system to support and improve the performance of drivers. Within the framework of the agreement, be drivers can access VPBank's exclusive banking and financial services to make financial planning in everyday life easier. Especially when the drivers are in need of motorbike or car loans, they will enjoy preferential interest rates and loan terms. Thus, drivers can bring stability to their life.

One of the highlights of this partnership is the optimised financial solution for large businesses as well as SMEs. The advanced technology platform of BE Group combined with VPBank's payment system will create a professional digital technology ecosystem to optimise the trading process between entities.

beFinancial will create payment management portals for each entity to minimise paperwork and improve accuracy and transparency. With that, businesses can easily manage cash flows conveniently and closely, improve business performance, and increase profits.

“As a Vietnamese technology company, BE Group aspires to bring a coherent solution to simplify the complexities in everyday life and become a bridge between every customer and service provider. After the deployment of ride-hailing services, BE Group will focus on developing beFinacial as a digital financial product. Therefore, the partnership with VPBank – the largest private bank in Vietnam in terms of payment and financial products – is expected to bring a quick, secure, and optimal payment solution for individual consumers and corporate customers, as well as more benefits to the drivers so they can rest assured to concentrate on their work,” Tran Thanh Hai, CEO of BE Group said.

BE Group is a Vietnamese technology startup in the field of technology transportation with the ride-hailing app named be, featuring two main services, beBike (two-wheeler booking service) and beCar (car booking service). Currently, be app has been downloaded on about four million mobile devices and has about 30,000 drivers, conducting about 200,000 trips every day.