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Kredivo launches Buy Now, Pay Later in Vietnam

Monday 30 August 2021 13:17 CET | News

Kredivo, an Indonesia-based digital credit company, has partnered with Vietnam-based Phoenix Holding to launch instalment programmes in Asia-Pacific.

Following the recent announcement of its plan to become a publicly traded company, Kredivo announced its market entry into Vietnam through a joint venture with Phoenix Holding, a family investment office based out of Vietnam with a portfolio in consumer, financial services, retail and technology sectors. The Vietnamese entity, Kredivo Vietnam Joint Stock Company, will be able to leverage Kredivo's extensive PayLater expertise as well as Phoenix Holding's local network and know-how.

The launch of Kredivo in Vietnam, their first market outside of Indonesia, is another milestone for the business this year. Vietnam came as a choice given the low penetration of credit cards in the country and a rapidly growing middle class, the fast-growing ecommerce market, and the similarities in the demographic and consumption patterns to Indonesia.''

In Vietnam, Kredivo will also partner with VietCredit Joint Stock Company, a finance company, to operate Kredivo's PayLater business in Vietnam. Kredivo's core products will be launched in stages, starting with bill payments for daily needs and personal loan, to be followed by ecommerce BNPL (Buy Now, Pay Later).


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Keywords: partnership, online payments, BNPL
Categories: Payments & Commerce
Companies:
Countries: Indonesia
This article is part of category

Payments & Commerce