ViettelPay - the fastest growing FinTech app in Vietnam - expects triple regular users in 2020

PR83055

HANOI, Vietnam, Feb. 27, 2020 /PRNewswire=KYODO JBN/--

-ViettelPay is the fastest growing fintech application in Vietnam in 2019

-ViettelPay users are allowed to deposit savings at an interest rate of over 8%/year

ViettelPay, launched by Viettel Digital Services - a member of Viettel Group,

is the fastest growing fintech application in Vietnam in 2019 despite the number

of fintech companies increased by 71% compared to 2018. ViettelPay now has

more than 9 million users; while the number of regular users increases 6 times

compared to the end of 2018. The average cash flow generated through

ViettelPay reached VND 50,000 billion with 40 million transactions.

Among various benefits like transfer to 40 domestic banks, cash withdrawal at

all ATMs and Viettel's service points in Vietnam, users of ViettelPay can also

have saving account with interest rate at over 8% yearly, the highest in the market.

In 2019, ViettelPay's salary payment service has more than 4,000 partners with

payment cash flow reaches nearly VND800 billion/month. ViettelPay is also providing

fee payment service for 450 schools in 20 provinces and cities across Vietnam.

In 2020, the number of regular users of ViettelPay is expected to be tripled

comparing to 2019 with 120,000 transaction points nationwide. ViettelPay's

services will be provided with the assistance of Face ID, A.I. and eKYC

(Electronic Know Your Customer).

Viettel's goal is to provide digital banking to everyone, everywhere. While

certain fintechs only concentrate in urban areas, ViettelPay has invested

nation-wide at the get-go.

Mr. Pham Trung Kien, General Director of Viettel Digital Services, a member of

Viettel Group, said: "We want to serve more than 90 million people in Vietnam,

regardless of who they are. ViettelPay is a personal financial product for everyone,

including those in rural, remote and isolated areas, therefore it must be available

seamlessly across the country."

SOURCE: Viettel Group