As the world becomes increasingly digitalized, financial services are evolving rapidly, with Buy Now Pay Later (BNPL) being one of the latest innovations in the financial sector. Fundiin is a Vietnam-based startup that is leading the way in the BNPL industry by providing a zero-cost and user-friendly service to the unbanked and underbanked population of Vietnam. This startup showcase will explore how Fundiin is revolutionizing the BNPL industry in Vietnam and how it has managed to partner with some of the biggest retail merchants in the country.
Making BNPL accessible to the unbanked and underbanked population of Vietnam
Vietnam has a large unbanked and underbanked population, with only 31% of adults having access to formal financial services. Credit card penetration is only 5%, making it difficult for people to access credit when needed. This is where Fundiin steps in, offering a zero-cost BNPL service that is accessible to everyone, regardless of their banking status. Fundiin’s service is free of interest or fees, and the onboarding process requires just a single photo of the ID card and five seconds without an app download required, making it quick and easy to use.
Partnering with over 300 retail merchants
Fundiin has partnered with over 300 retail merchants in Vietnam, including some of the biggest names in their respective industries. These partnerships allow Fundiin to provide its users with a seamless shopping experience, with the ability to use the BNPL service at a variety of retail outlets. The partnerships include big names like Mobile World – the largest overall retailer in Vietnam, Unilever, Vua Nem – the largest mattress retailer, Lug – the largest luggage retailer, and Galaxy Play – a leading local movie streaming service. Additionally, Fundiin has partnered with several cosmetics and fashion brands, including Paula’s Choice, AHC, DHC, Sulwhasoo, and many more.
The future of BNPL in Vietnam
With its zero-cost and hassle-free BNPL service, Fundiin is poised to be a leader in the BNPL industry in Vietnam. By providing a service that is accessible to the unbanked and underbanked population of Vietnam, Fundiin is helping to bridge the gap between formal financial services and the people who need them. With its partnerships with over 300 retail merchants, Fundiin is making it easier for people to shop and pay later, without the worry of high-interest rates and fees.
Fundiin is a startup that is changing the financial services landscape in Vietnam by providing a zero-cost and user-friendly BNPL service to the unbanked and underbanked population of the country. With its partnerships with over 300 retail merchants, Fundiin is making BNPL accessible to everyone, regardless of their banking status. Fundiin is certainly a startup to watch in the BNPL industry in Vietnam.