Kredivo enters into collaboration with OnePay

May 30, 2023 | 18:41
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Kredivo, a leading buy now, pay later (BNPL) platform in Indonesia and one of the most valuable fintech unicorns in Southeast Asia, has announced a partnership with OnePay, a top payment services provider in Vietnam since 2006.
Kredivo enters into collaboration with OnePay

Through this collaboration, millions of Vietnamese customers will gain access to a fast, affordable, and convenient BNPL services. This partnership is part of a comprehensive strategy from both companies to address the growing demand for digital payments in Vietnam, a market predicted to be worth $143 billion by 2025.

The union of these two prominent platforms is expected to have a positive impact on the digital payment trend and further boost Vietnam's digital economy.

Considered pioneers in the nation's emerging digital payment market, Kredivo and OnePay are set to offer seamless BNPL services to 20 million customers within the network. This new, modern, and convenient financing and payment solution features a fast and flexible process with a simple two-click check-out.

Moreover, with Kredivo's BNPL solution integrated on OnePay, over 4,000 merchants will be able to leverage Kredivo's smart financial solutions and user experience to enhance their business and customer loyalty.

Dan Nguyen, country head of Kredivo Vietnam said, "We are excited to collaborate with OnePay, one of Vietnam's largest e-payment gateways, to bring this BNPL solution to millions of users in Vietnam. With seven years of experience serving over seven million users in Southeast Asia, Kredivo's BNPL offerings have helped Vietnamese merchants grow their businesses and attract potential customers in a cost-effective manner."

"Many Kredivo merchants have seen their transaction frequency double and their average order value increase by up to 30 per cent. We believe that the collaboration between Kredivo and OnePay will add new momentum to the digital payment market by providing fast, affordable, and convenient experiences that increase Vietnamese purchasing power," added Nguyen.

Dang Thanh Phong, director of OnePay stated, "OnePay upholds a business philosophy that pivots around customer experience and prioritising the interests of merchants. We are continuously seeking opportunities to innovate and improve our digital solutions. Via this partnership with Kredivo, we hope to offer a new financing option that perfects the customer experience and promotes business growth for merchants, thereby contributing to the advancement of digital payments in Vietnam."

Kredivo and OnePay have announced the first phase of their partnership by launching a series of attractive promotions, including a 50 per cent discount valued up to VND100,000 ($4.26) on a user’s first transaction and a 5 per cent discount valued up to VND500,000 ($21.29) on transactions from VND700,000 ($29.81).

In addition, they are offering 6- and 12-month instalments, applicable to purchases from OnePay’s leading merchants and partners, such as – a top 10 global tech corporation – and – a renowned e-commerce website in Vietnam.

With Kredivo's BNPL service and two-click checkout, users can pay seamlessly and opt to delay the payment over 30 days or three months with interest waived, or over six or 12 months with low interest.

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As one of Southeast Asia’s fastest-growing and most promising digital economies, Vietnam represents a significant growth potential for Kredivo.

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By Thanh Van

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