Vietnam Television introduces 9Pay's multi-channel payment solution

The Fintech Wave in Vietnam

Financial technology, or Fintech, is reshaping the global financial market, contributing significantly to the 4.0 technological revolution. According to the auditing firm KPMG, 2022 continued to be a notable year for the global Fintech sector with 6006 investment deals worth up to $164.1 billion. Regionally, while Fintech investments in the Americas and Europe showed signs of decline, the Asia-Pacific maintained growth momentum for the fifth consecutive year. Amid global economic fluctuations and challenges, the figures Fintech companies achieved in 2022 highlight the increasing appeal and stature of tech applications in finance. In comparison to the global scene, Fintech in Vietnam is relatively nascent but has actively approached the trend.

In 2022, investment deals in Fintech in Vietnam reached $294 million, with the number of startups increasing by almost 13% from 156 to 176 companies. Nonetheless, the number of Fintech companies in Vietnam is modest compared to other ASEAN countries like Singapore (1580 companies), Indonesia (993 companies), and Malaysia (612 companies).

This is seen as both an opportunity and a challenge for Fintech enterprises. The technological evolution, paired with cyber-security risks, requires these companies to invest time and strategy to convince users to transition to non-traditional products.

Mr. Nguyen Quang Thinh - Director of 9Pay Joint Stock Company answers an interview on VTV1

In this context, users and businesses are eagerly seeking multi-platform payment solutions that are user-friendly and ensure high levels of security and privacy.

Multi-channel payment solutions for domestic and international businesses

9Pay is among the few intermediary payment entities licensed by the State Bank of Vietnam. Established in 2018, 9Pay has concentrated resources to develop modern financial solutions, assisting businesses in easy cash flow management, business development with Collection - Payment services, and a Payment Gateway. Simultaneously, it offers a digital ecosystem for over 3 million e-wallet users in Vietnam.

According to VTV, despite being a young enterprise, after five years of clear developmental goals, 9Pay is recognized as an experienced management unit with the capacity to produce products and services meeting international standards. It has become a reputable brand in the payment sector, helping many partners achieve specific successes in the domestic market.

The 9Pay team participates in training on new products & services.

Aiming to deliver groundbreaking products & services, in its 5-year foundational journey, 9Pay continuously expands its partner network, seeks market opportunities through surveys, actively participates in financial technology events, and intensifies international collaboration. As a result, the young brand 9Pay increasingly attracts attention & trust from numerous businesses, users, and media agencies in Vietnam and globally.

Acknowledging 9Pay's relentless efforts over the past 5 years, Vietnam Television produced a feature titled "Multi-channel Payment Solution," broadcasted in the Business - Entrepreneur segment on VTV1. The program supports proactive businesses in keeping pace with global technological and business trends, providing quality digital solutions for users and significantly contributing to Vietnam's economy & society.

9Pay personnel proactively provide rapid solutions for customers.

Fintech has transformed how we manage finances and consume financial services. Vietnam is seizing opportunities in this sector, and 9Pay exemplifies how Fintech can assist both domestic and international businesses in optimizing payment processes. The program on VTV1 aims to enhance awareness of Fintech's growth and 9Pay's solutions within the business community and users in Vietnam.

It's a tremendous honor and pride for the 9Pay management and staff – those who strive day and night for growth – to assert the brand's position in the Vietnamese & global Fintech market.

Follow the milestones and achievements of 9Pay in the feature report here.