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These incumbents had made a strong entry, collectively achieving a 23% penetration rate and securing the fifth position, the data show. Top digital financial platforms in Vietnam by penetration rate (%), Source: The Connected Consumer Q4 2023, Decision Labs, 2024 This came amid the entry of Apple Pay in the Vietnamese market in August 2023.
Now people can easily set parameters or choose whether they use debit, credit, “pay-in-four” with installments, reward points or even pay in another currency. Micro-merchant Acceptance: Allows money transfer from consumer to merchant through smartphone devices. Click to Pay is available in CEMEA today.
The company offers innovative digital financial services aimed at empowering local and regional micro, small, and medium enterprises (MSMEs). The company’s platform integrates these services into a single entrypoint on the Grab app, catering to consumers who prefer accessing all their digital financial services on one integrated platform.
To compete, Amazon is investing in product including hiring product managers for devices solutions, which could see Alexa move from the home and office, and into brick-and-mortar or point-of-salePOS. Its first entrypoint in the market was in payments in October 2014. Amazon Go: Amazon’s secret payments weapon?
Businesses that had not already incorporated contactless payment options into their point-of-sale (POS) systems prior to Covid-19 have moved to do so. In May 2020, micro-investing app Acorns followed suit, adding a Spend Account alongside its investment and retirement products. Source: Recorded Future.
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