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E-Payment in Vietnam
Tutor:
Group:
Ms. Mai Yen Nhi
Nguyen Thi Lan Anh
Nguyen Thi Huyen
Nguyen Thi Thuy
To Thi Quynh Trang
Contents
1
3
General info
2
Opportunities for e-payment in Vn
3
Challenges for e-payment in Vn
4
Nganluong.vn
5
Recommendations
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General information
 E-payment:
 Transfer $ from the buyers to the sellers through electric technology
 One part of e-commerce
 In VN:
 E-commerce: 27.4% (2009)
 E-payment: 3.2% (of 27.4% ), 96.8% of cash payment
 Only 21% know about credit cards, 8% knew about the debit card and
91% know about the ATM card
 > 20 million Internet users in Vietnam, only 20% have debit cards and
1% have credit cards
 E-PAYMENT WILL DEVELOP IN VIETNAM?
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Opportunities
 Number of internet users increase
 2003: 4% of population (3.1mil)
 2009: 26% of population (22.5mil)
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Opportunities
 Increase in buying and selling online
 Number of commerce websites increase
• 2005: 200,000 websites
• 2009:>500,000 websites
 Government policy: restrict cash pmt
 Prevent the money laundering
 Avoid the inflation
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Challenges
 Payment habits of Vietnamese customers
 Prefer cash payment
 Lack of trust in online payment
 Low E-transaction security
 Limited E-payment systems
 Incomplete law system of E-payment (Tax calculation)
 Lack of technology & expertise
Social environment and business practices are not compatible
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HOW E-PAYMENT WORK
IN VIETNAM?
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E-payment providers
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Nganluong.vn
OnePAY
DongAbank, Vietcombank …
F@st MobiPay
MobiVi
Payoo
VnMart
NetCASH – PayNet
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Nganluong.vn
 One of the leading products of
the Peace Soft
 Send & receive $ on Internet
with safety, convenience,
protection and dissemination
 Allow abroad transaction with
39 foreign countries through
eBay.vn
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How nganluong.vn work
 Nganluong.vn works such as electronic wallet
 Each user owns a registered account for individual or
business category
 Such accounts are linked to a bank account
 Buyers deposit $
 Sellers withdraw $
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Payment methods
 “ Hold payment“
 Dominant mode of
transaction
 Payments will be frozen
 The system will
automatically transfer $ to
seller within 7 days
 "Immediate payment“
 Sellers you trust
 Sellers who are verified by Nganluong.vn as "the guaranteed sellers”
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Benefits when using nganluong.vn
Publicized procedures & conditions
of handling complaints
Obligations and responsibilities of
buyers and sellers in the
treatment of disputed claims
Security, objectivity &
fairness for both
buyers & sellers
Compensation insurance for buyers in
nganluong.vn incase of financial loss
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Recommendations
 For the website:
 Investigate  rate the truthfulness of sellers
 Allow the buyers to rate sellers’ reliability
 Have software to protect buyers’ credit card number and personal
information
 For the government:
 Allow the companies to open bank accounts in foreign countries
 Allow the information encryption  secure the information
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References

2007, “Các website thương mại điện tử hàng đầu Việt Nam”
Available at URL:
http://vietbao.vn/Vi-tinh-Vien-thong
(Accessed on September 14th, 2010)

2010, “Vietnam NetCitizens Report”
Available at URL:
http://www.cimigo.vn/en-US/ReportDetail.aspx?ProductId=3
(Accessed on September 14th, 2010)

2005, “Những khó khăn khi ứng dụng TMĐT ở Việt Nam)
Available at URL:
http://www.chungta.com/Desktop.aspx
(Accessed on September 14th, 2010)
2009, “Lợi ích thanh toán trực tuyến qua NgânLượng.vn ”
Available at URL:
http://chodientu.vn/blog-bv-182-2
(Accessed on September 14th, 2010)


2007, “Chính phủ muốn hạn chế dùng tiền mặt”
Available at URL:
http://vietbao.vn/Kinh-te
(Accessed on September 14th, 2010)
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Q&A