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Banking & Finance

Home Credit introduces new payment feature

Released at: 14:05, 15/07/2019

Home Credit introduces new payment feature

Photo: Home Credit Vietnam

Lender's new in-app feature allows loan installment payments with AirPay e-wallet.

by Hong Nhung

Consumer finance firm Home Credit Vietnam announced on July 15 a new in-app feature - loan installment payments via AirPay e-wallet.

This is one of the efforts of the Czech financial consumer company to support the announcement from the State Bank of Vietnam on promoting cashless payments. Moreover, its handshakes with multiple e-wallet partners also reflect Home Credit’s priority in digitalization, with the purpose of shifting the customer experience “from fast to instant”.

Customers can easily make payments with only three simple steps. With the new feature on the Home Credit Vietnam’s app, they can actively make payments anytime, anywhere, without travelling to a POS.

In particular, they neither have to pay extra fees nor remember the contract information, as all data is already stored in the system. Another bonus when compared to other payment methods such as transactions at the counter or bank transfers is that the app will update and send in-app notifications to customers right after payments have been made successfully.

Home Credit and AirPay signed an agreement in March to provide loan repayments through the AirPay e-wallet. The next milestone in the partnership - integration that allows consumers to make payments on Home Credit’s mobile app - is expected to make cashless payments become seamless. Besides AirPay, Home Credit customers also have MoMo as another option for repayment through e-wallets.

“E-wallet usage in daily transactions has become more and more familiar with Vietnamese people, especially younger customers,” said Mr. Dmitry Mosolov, CEO of Home Credit Vietnam. “With the purpose of transforming the customer experience from fast to instant, Home Credit is still actively discussing and working with new partners with the aim of integrating more payment options this year.”

Since its official launch in March 2017, the Home Credit Vietnam app was named “Most popular consumer finance application in Vietnam” for two consecutive years, in 2017, 2018. As at July, the app has had nearly 4 million downloads on iOS and Android platforms. With the latest in-app upgrade in May this year, customers are now able to apply for loans on the app.

Eligible existing customers can experience a full digital process, from loan application to disbursement within two hours. Customers can also manage their loans with ease as well as access price comparisons for mobile phones with iPrice and digitally sign their contracts with E-Signing.

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