Consumer credit company Home Credit Vietnam Finance Company Ltd on August 22 signed a deal with MoMo Wallet, the biggest e-wallet company in Viet Nam, to offer customers faster and more convenient services.

Customers can now borrow from Home Credit and have the money transferred directly to MoMo Wallet.

In the last quarter of this year, all the information in customers’ contracts along with monthly instalments payable to Home Credit would be automatically synchronised with their MoMo accounts, the two companies said.

Since last month, customers have been able to make repayments to Home Credit via MoMo.

At the signing ceremony, the two informed that their partnership began in 2015, just a year after the e-wallet launched on iOS and Android.

Under the partnership, Home Credit’s customers have been able to repay their loan via MoMo application or at MoMo’s 5,000 points of sales across the country.

MoMo said Home Credit customers would have the opportunity to access and enjoy a number of its promotions that add more value to their customer experience.

Branislav Vargic, COO of Home Credit Vietnam, said: “As a lender, we have decided to co-operate with more technology companies to create an integrated eco-system that delivers instant benefits to customers, enabling them to conveniently access Home Credit services.

“Therefore, we highly appreciate the partnership with MoMo and fully expect the partnership to succeed in future.

The consumer finance market is witnessing dramatic growth of 30 per cent a year in Viet Nam.

According to the National Financial Supervisory Commission, by the end of last year, the size of the market had reached US$52 billion. — VNS