Home Credit and Mobile World aim for $2 billion in revenues via partnership

August 18, 2023 | 10:52
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On August 16, Home Credit and Mobile World signed a strategic cooperation agreement to provide special financial support for customers at Mobile World’s chains, including thegioididong.com, Dien May Xanh, and TopZone.
Home Credit signs a strategic partnership with Mobile World

Through this agreement, Home Credit will offer superior and specially tailored financial solutions to Mobile World’s customers.

These include providing better interest rates, increased loan budgets, more convenient instalment options, and an online financing solution.

In return, Mobile World will prioritise Home Credit as their top long-term strategic partner, maintaining Home Credit's leading market share at the retailer.

This cooperation between the pioneering digital financial service provider and the popular retailer will enable more Vietnamese people to easily access class-leading financial offerings.

Currently, 70 per cent of customers who purchase through an instalment plan at Mobile World are benefiting from a 0 per cent interest rate provided by Home Credit. The entire loan and instalment process has been completely digitalised and takes only three minutes.

The signing ceremony also coincided with the celebration of the 10-year anniversary of the partnership between Home Credit and Mobile World. The two parties have been collaborating since the consumer lending market in Vietnam was still in its infancy.

Ten years ago, consumers were unfamiliar with this lending model and the loan approval process was complex, involving multiple steps and taking several days, or even weeks.

Over a decade, both parties have relentlessly worked to develop and improve the market. Now, instalment loans play an essential role in people's consumption, enabling customers to purchase quality products to improve their lives with a low initial budget.

Annica Witschard, CEO of Home Credit said, "Over the past 10 years, the partnership between Home Credit and Mobile World has developed significantly, contributing tremendously to our success and growth."

"The synergy of Home Credit's extensive financial expertise and Mobile World’s market share come together to offer customers a more seamless experience. This collaboration also reflects the strong commitments of both companies to generate value and foster financial inclusion," Witschard added.

Doan Van Hieu Em, CEO of Mobile World Investment Corporation stated, "We are excited about the prospect of further expanding our partnership with Home Credit."

"This union will provide customers with more convenient payment options, driving a new consumption trend. Our thanks go to Home Credit for accompanying us over the past 10 years and enhancing the shopping experience for our customers," continued Mobile World's CEO.

With a shared orientation towards continued innovation and development, both parties are aiming for a revenue of approximately $2 billion within the next three years.

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By Thanh Van

What the stars mean:

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