From my point of view, 2020 ended on a high note for FinTech Ecosystem in Vietnam:
1- eWallets (intermediary payment services): 41 eWallets as of Jan 29, 2021.
2- eKYC: renown players from Silicon Valley, Japan, South Korea, India expanded into VN aggressively while local startups also claim part of the market. However, some awful products created a bunch of frauds and many criminal lawsuits.
3- Digital Banks: welcomed the newcomers such as TNEX, Cake, Ubank.
4- Personal Lending: around 100 so-called “personal finance” apps was shut down by the Ministry of Public Security. These digital loan shark could charge unbanked ppl from 60% to 95% interests per MONTH.
5- BNPL: various types of services: flowers, furniture, smartphones, bikes…
6- Nano (Income streaming app for retailers and manufacturers in SEA) & Homebase (Personalized real estate financing using technology in SEA)get accepted to YC.
* Special thanks to Hang Do (Scommerce), Trang (CIMB ), Long Do(Saison Capital), Valerie (Van) Vu, CPA (Venturra), My Tran (Jungle), Michael Do (Beenext), Tri (Dennis) Doan (VinaCapital), Long “Leo” Pham (Access) for contributing!
*Happy International Woman’s Day :)
#fintechvietnam #startupvietnam #vietnamfintech
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