Kredivo partners with 9Pay to offer a flexible payment solution for millions of customers and merchants

Ho Chi Minh City, 28 March 2023 - One of the fastest-growing fintech unicorns in Southeast Asia, Kredivo, shakes hands with 9Pay, one of the top payment gateways in Vietnam, to offer the Buy Now Pay Later (BNPL) service to seize a huge market opportunity. PWC forecasts that Vietnam is a country with great potential for development of electronic payments with an expected annual growth rate of 15.7% by 2025. Meanwhile, the latest report of Precedence Research shows that the global buy now pay later market size is expected to reach approximately USD 3,268.26 billion by 2030, poised to grow at a CAGR of 43.8% during the forecast period from 2022 to 2030.

In this partnership, 9Pay will play an important role in connecting with small and medium-sized enterprises and offer them a comprehensive payment solution. The launch of the new BNPL services co-delivered by 9Pay and Kredivo aim at providing Vietnamese consumers easy access to modern financial solutions with various choices. On the other hand, this new service will assist businesses to grow their revenue and draw in new customers without spending a lot on advertising and marketing. 

According to Mr. Nguyen Quang Thinh, Director at 9Pay Joint Stock Company, “Partnering with a leading fintech company like Kredivo highlights our commitment in creating new solutions and business models that offer user-friendly, secure, and affordable products and services to businesses. Meanwhile, it also helps us to bring the best payment solution for the underserved, credit-invisible consumers, which are dominated by young Vietnamese users.”

Mr. Dan Nguyen, Country Manager of Kredivo Vietnam, said, “We are pleased to work with 9Pay, one of the rising digital payment providers in Vietnam. Both parties share the same goal of bringing secure, convenient, and seamless shopping experiences to customers. I believe this partnership will offer 500 merchants in the 9Pay’s network a new payment solution that enables them to attract new customers, grow their revenues and finally contribute significantly to the local economy in the long run.”

The partnership between 9Pay and Kredivo is expected to take a hit for new and positive fintech trends in the Vietnamese market, especially when only 4% of Vietnam's population owns a credit card despite high personal consumption demand. With Kredivo's simple 2 click-checkout, users can pay seamlessly and choose to repay over time within 30 days or 3 months with in-due interest waived or low interest when paying within 6 months or 12 months. Thus, 9Pay hopes to make this emerging financial trend accessible for more Vietnamese consumers and bring them a seamless and comprehensive   digital payment experience. Besides, the company aims to offer a total solution to businesses, retail chains, and individual business households within the 9Pay network, as well as improve the competitive edge of 9Pay in the local market.

9Pay aims to optimize the cashless payment ecosystem in Vietnam by collaborating with numerous businesses and individual households to offer optimal and user-friendly payment solutions across all platforms. Through our installment payment solutions, including credit card and BNPL options, we enable users to enjoy seamless shopping and payment experiences. By doing so, 9Pay helps businesses optimize their resources and increase revenue while also promoting the growth of the cashless payment ecosystem in Vietnam.