Buy online in installments – New payment trend after Covid
Market of “technology shopping” and online installment buying service
According to the data reported by Facebook at the end of 2021 on shopping behavior in Southeast Asia, the value of online shopping in Vietnam market increased by 150% compared to 2020, with an expanded list of goods. 50%. Vietnam is the market expected to have the fastest growth in Southeast Asia, expected to reach US$56 billion in 2026, up 430% from the US$13 billion achieved in 2021. This figure shows that the door of “technology shopping” is increasingly open and has a great impact on Vietnamese tastes and markets.
The method of payment for online purchases has also changed a lot, thanks to the attraction of online installment purchases, pre-paid post-paid purchases, shopping refunds, etc., the number of users increased by 82% compared to 2020. accounting for 58% of payment methods compared to using cash.
Only in the last 3 months of 2021, the number of consumers using online installment purchase accounted for more than 40% compared to other forms of payment. Not only targeting high-value technology and electronics products, this form of payment has expanded to include fast-moving consumer goods, health care, beauty, etc. This is also considered a spending trend. promote the rapid development of technology shopping.
Buy online in installments – A form of spending that goes hand in hand with shopping with technology
After the outbreak of the Covid-19 pandemic, consumers gradually formed the habit of buying online, limiting going out and interacting in crowded places. The advantage of this habit is that it saves time, is not bound by geography and shopping time frame.
This is also an advantage for online installment purchases. Customers can register at home, without waiting for staff of financial companies to contact them to make documents or provide cumbersome notarized documents. All processes have been streamlined thanks to the application of technological advances in the 4.0 era.
Gen Y and Z customers are increasingly interested in financial applications thanks to the simple process that helps them get the desired product immediately with the amount of money divided and paid monthly. Thanks to this feature, expenses are still guaranteed and financial pressure is minimized.
The online installment purchase market is increasingly active
More and more online installment buying applications are born, making the market more competitive and exciting than ever. Competition in interest rates, conversion fees, payment times between banks and financial technology companies (Fintech) brings more benefits to consumers.
Kredivo Vietnam is a subsidiary of FinAccel financial technology company from Indonesia. The advantage of buying in installments through the Kredivo application, also known as prepayment, is the 0% interest rate with a term from 30 days to 3 months. There are absolutely no subscription or annual fees to consumers. Besides online installment purchase, Kredivo also helps connect users with organizations that provide other services such as personal loans, payment of fixed bills such as electricity, water, and phone bills.
Currently, Kredivo has connected with many partners in Vietnam to bring more convenience to users in shopping such as FPT Shop, CellphoneS, Mytour, Happy Skin, Haravan, Xinhtuoi, Divui, Kolabuy, Uglee, Actgold, Anhkhoikids , Mypham.vip, N Cosmetics…
Online installment purchase promises to contribute to stirring up the online payment market to promote the trend of “technology shopping” in Vietnamese schools.
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at Blogtuan.info – Source: cafebiz.vn – Read the original article here
