Allied Wallet, a globally leading provider of mainstream online
payment processing, is now compatible with Nganluong, Momo, and VTC
Pay in Vietnam to support its growing e-commerce market, ranked as one
of the top ten fastest growing in the world.
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Allied Wallet is now compatible with several new online payment solutions in Vietnam. (Photo: Business Wire)
Value
Walk listed Vietnam as the #6 fastest growing e-commerce market in
the world with an annual growth rate of 32%. It’s currently worth €2.3
billion and highly influenced by the incredible e-commerce growth in
China.
Although Vietnamese banks are launching programs to promote an increase
in credit card usage, the country has not yet seen widespread adoption
due to cultural barriers and the existing minimum income requirements.
Despite a rate of just 2% in credit card penetration and only 31% of the
Vietnamese population being banked, the country shows incredible growth
in e-commerce partly due to the use of smartphones and their online
services.
“At Allied Wallet, we’ve always put a focus on connecting buyers and
sellers and supporting their preferred payment methods. As e-commerce
and m-commerce continue to grow in Vietnam we want to promote growth
there and make sure we support the unique culture and payment methods,”
said CEO Andy Khawaja of Allied Wallet.
Vietnam, similar to its neighboring countries, is gravitating towards
e-commerce because of the comfort and convenience it offers. It also
allows them access to goods and services from neighboring countries or
even further.
Solutions like Momo
allow users to load their eWallet by connecting it to their bank account
or loading it in any one of its 4000+ retail locations. Nganluong
already works with more than 10,000 e-commerce merchants and supports
over 500,000 eWallet customers and partners. VTC
Pay has over 22 million active eWallet users and is accepted by over
30,000 businesses.
Allied Wallet is proud to support these payment methods and connect
their users to a global payment platform that supports over 150 million.
About Allied Wallet:
Allied Wallet continues to revolutionize the e-commerce industry by
introducing new and innovative payment processing solutions for online
merchants, enabling them to send and receive global payments. With PCI
compliant merchant services for nearly any business size, Allied Wallet
provides a state-of-the-art payment gateway to optimize online
transactions. Please visit www.alliedwallet.com/.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190423005245/en/