Vietnam

Top Fintech Vietnam News From May 2018

Here comes our selection of must read Fintech News from May. Also check out the Fintech Vietnam Job selection at the end of our newsletter.

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Vietnam Fintech Sector Report: All about Digital and Mobile Payments?

Vietnam’s fintech industry is poised for growth as Internet and smartphone penetration rates continue to rise and as the government pursues its push for greater digitalization of the economy, according to a new report by consulting firm Solidiance. (Read more)

Huobi Strategizes Market Penetration into Vietnams Growing Blockchain Market

Huobi.Pro, the leading global digital asset exchange, which saw a cumulative annual turnover of US$850-billion last year in 2017, announced its grand strategy to tackle the Vietnamese market during their keynote speech at Blockchain Festival Vietnam. (Read more)

FE Credit and Mastercard Launch the First Digital Credit Card Solution for Vietnam

FE CREDIT launches MPlus+, a unique digital credit card delivery solution which allows card holders to commence their cashless journey before the physical card is delivered Vietnams VPBank Finance Company Limited (FE CREDIT) starts with the MPlus+ Card, a unique digital credit card solution as an extension to the existing range of physical card products focused on category entrants. (Read more)

Grab Food and Grab Credits/Pay Arrive in Vietnam

With their newest services, GrabFood and GrabPay, the Singapore-based company is set to break into the lucrative food delivery and e-payment markets in Vietnam, taking advantage of their popular ride-hailing app to connect millions of users to drivers, restaurants and each other. (Read more)

Mobile payment firms struggle to dethrone cash in Southeast Asia

Bui Mai Phuong is an avid online shopper, ordering anything from clothing to personal-care products from her smartphone. But she prefers to pay with cash. (Read more)

Fintech firms need support from banks: SBV

The fintech (financial technology) sector is facing difficulties of capital mobilisation shortage, inadequate legal framework and banks’ hesitance in co-operation, said Lê Minh Hưng, Governor of State Bank of Việt Nam (SBV). (Read more)

Investment in Vietnamese startups booming

A total of 92 Vietnamese startups raised $291 million in funding last year, said Mai Duy Quang of the Vietnam Software and IT Services Association at the opening of K-Startup Grand Challenge on Thursday. (Read more)

Chinese tourists pay via unlicensed mobile wallets, POS in Vietnam

Concern about this kind of payment arose after inspectors of the State Bank of Vietnam and local police caught a store in Ha Long, a tourist city in the northern province of Quang Ninh, accepting payments from Chinese customers using three unlicensed POS machines last week. (Read more)

Top Fintech News from Southeast Asia

Top 15 Most Well-Funded Southeast Asian Fintech Companies

The financial services industry in Southeast Asia is rapidly evolving as a result of disruption from new-age fintech companies. (Read more)

Rise of The Neo-Banks: Hong Kong Issues New Guidelines for Virtual Banks

The Hong Kong Monetary Authority (HKMA) published today a revised Guideline on Authorization of Virtual Banks (the Guideline) following the completion of a public consultation. (Read more)

MAS Warns 8 Digital Token Exchanges and ICO Issuer

The Monetary Authority of Singapore (MAS) has warned 8 digital token exchanges in Singapore not to facilitate trading in digital tokens that are securities or futures contracts without MAS’ authorisation. (Read more)

E-Commerce Risk in APAC is Rocketing

E-commerce in Asia-Pacific is booming – with 71 percent of APAC consumers making an online purchase – but so is the risk of fraud, with one in five customers already falling victim. (Read more)

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