Vietnam Newsletter

Vietnam

Vietnam’s VC Market Matures as Investments Reach Record Highs

2021 was a record year for venture capital (VC) investments in Vietnam, driven by a maturing technology startup ecosystem, an increasing number of later stage investments, and rising participation from both local and foreign investors eager to tap into Vietnam’s

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Thailand and Vietnam Officially Launches QR Payment Linkage

The State Bank of Vietnam (SBV) and the Bank of Thailand (BOT) announced that they have officially launched their joint QR payment services as an alternative means of cross-border payments between the two countries. Nguyen Kim Anh, Deputy Governor of

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Google Wallet Lands in Vietnam, Thailand and Malaysia

Google Wallet has now been extended to three additional Southeast Asian countries – Vietnam, Thailand and Malaysia – making it available in 57 countries total. In Vietnam, the feature is currently only supported for Visa cardholders while Mastercard will be

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Sacombank Chooses Swiss Firm Temenos to Elevate Digital Banking

Sacombank, one of the largest banks in Vietnam has selected Temenos Infinity to elevate digital banking and deliver a seamless omnichannel experience to retail and business customers. The bank has a customer-centric business strategy and plans to introduce fully digital

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Vietnam’s Card Payments Market Expected to Hit US$37.6 Billion This Year

The Vietnamese card payments market is expected to grow by 23.8% to reach VND859.2 trillion (US$37.6 billion) in 2022, according to a report by GlobalData. According to the data and analytics firm, this growth is supported by rising consumer spending

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How Well Are Insurtechs Plugging Vietnam’s Coverage Protection Gaps?

The insurance market in Vietnam has grown along with the country’s surge to economic prominence in recent years. During the 1990s, only general insurance was offered by the state-owned insurance group Bao Viet. It was only in 1995 that life

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Vietnamese BNPL Firm Fundiin Secures US$5 Million Series A

Vietnamese Buy Now, Pay Later (BNPL) firm Fundiin announced that it has secured US$5 million in a Series A funding round that was co-led by Trihill Capital and ThinkZone Ventures. Additional investors who had joined the financing round include 1982

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Igloo Rolls Out Home Content Insurance With Shopee in Vietnam

Insurtech firm Igloo has partnered with e-commerce platform Shopee to roll out its Home Content Insurance offering in Vietnam. Underwritten by Bao Viet Insurance, the offering is a comprehensive protection solution for indoor assets against unexpected events such as natural

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Vietnam and Philippines Lead The World in Retail Crypto Adoption

For the second consecutive year, Vietnamese consumers are being recognized as the biggest adopters of cryptocurrencies, recording the highest usage of crypto-related tools, products and services, compared to other nations. This is the finding of Chainalysis’ 2022 Global Crypto Adoption

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Vietnamese Digital Bank Timo and OpenWay Bag Award for Payments Software

Vietnamese digital bank Timo and OpenWay, a digital banking and payment software platform, received the Vietnam Technology Excellence Award for Payments Software for its digital banking platform. The award programme recognises major breakthroughs and innovative ways that technology is used

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