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Tuesday, July 5, 2022

Mirae Asset Finance Vietnam Officially Launches Miraeasset Credit

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  • E-Payment market is much more dynamic with the participation of MIRAEASSET CREDIT from MAFC
  • MIRAEASSET CREDIT from MAFC increases the diversity of the e-Payments market
  • MIRAEASSET CREDIT from MAFC – the very first cashless disbursement through QR Code in Vietnam

MIRAEASSET CREDIT, the very first QR Code disbursement solution in Vietnam, has been officially launched. It is considered as one of Mirae Asset Finance Vietnam’s strategic financial solutions in order to satisfy customers’ financial needs, simultaneously creating an eco-system to connect customers with retail partners.

The application of technology to innovate products and create better experiences with brands is considered as a key tool for competitiveness across industries and consumer finance. Especially, under the impacts and influences of the pandemic, the shift in consumer taste has become a challenge in terms of products and services’ innovation to lots of businesses. Specifically, cash usage habits have noticeably changed as the percentage of consumers using cashless payments through the online payment portal NAPAS has increased by 125%, while the total value of card payments at point of sales (POS) increased by 50% (according to State Bank of Vietnam statistic).

MIRAEASSET CREDIT – The very first touchless disbursement without using bank accounts in Vietnam

Operating as a “permanent innovator” with a “customer first” approach, Mirae Asset Finance Company (MAFC) is a pioneer of technology to deliver the best customer experience in the market, from taking advantage of application programming interface (API) technology in order to launch the first Alternative Distribution Channel (ADC) model through the cooperation with FRT in 2019 to 100% online lending solution through FPTshop.com.vn in 2021. Capitalising on the popularity of QR codes in Vietnam, it has launched Miraeasset Credit, a touchless disbursement solution that allows MAFC customers to pay for products or services at more than 16,000 MAFC-affiliated partners such as FPTshop, Mobile World, and other partners through Buy Now Pay Later.

MIRAEASSET CREDIT is considered one of MAFC’s strategic financial solutions in order to satisfy customers’ financial needs, as well as creating an eco-system to connect customers and retail partners. Accordingly, individual customers who are eligible to participate in the product can own the product within 24 hours through few steps on the My Finance app. For partners who provide products and services and would like to participate in MIRAEASSET CREDIT’s eco-system, they can easily download the SMART MERCHANT app to register.

Creating a competitive advantage and setting up the stage for MAFC to enter credit card market in 2022

MIRAEASSET CREDIT product is expected to create a competitive advantage for MAFC when competing with other consumer finance companies. Compared to regular credit cards, it provides a more flexible and secure experience to customers with touchless disbursement via a personal QR Code issued to each customer. Creating and developing MIRAEASSET CREDIT product is considered as a premise for MAFC to officially enter the credit card industry in 2022 through a new and innovative credit card product – virtual credit card by utilizing QR code. It is promised to be a special and convenient form of credit card for users, simultaneously increasing the opportunity to access diversified financial solutions for customers in the near future.

The first touchless disbursement by utilizing QR code

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