This partnership is part of a comprehensive strategy from both companies to address the growing demand for digital payments in Viet Nam, a market predicted to be worth US$143 billion by 2025.
The Global Economics (TGE), a finance and business publication, recently announced Home Credit Vietnam’s Home PayLater as the winner of the Best New "Buy Now Pay Later" Platform Award.
Most Vietnamese consumers (95 per cent) are aware of Buy Now Pay Later (BNPL) or installment plan as a payment option, though only a minority have used it in the last year, according to the Mastercard New Payments Index 2022.
Deloitte and cloud banking platform Mambu have identified the five steps merchants and fintech need to embrace in building a successful Buy Now Pay Later (BNPL) offering.
With the consumer-oriented “Buy Now, Pay Later” (BNPL) industry set to exceed US$1 trillion in annual gross merchandise volume globally by 2025, Mastercard launched a new commercial card offering designed specifically for small and medium enterprises (SMEs) on November 15.