Kredivo review

Kredivo review DEFAULT

Indonesian BNPL Kredivo Begins SE Asian Expansion Plans with Vietnamese Launch

Kredivo, an Indonesian Buy Now, Pay Later (BNPL) platform, announced its expansion into Vietnam through a joint venture with Phoenix Holding, a family investment company based in the country.

This move comes on the heels of the announcement by FinAccel, Kredivo’s parent company, to go public via a US$2.5 billion SPAC merger earlier this month. The firm had raised US$90 million in 2019 during a Series C funding round to double down on its South East Asian expansion plans.

In Vietnam, Kredivo will partner with VietCredit Joint Stock Company, a finance company, to operate its BNPL business in Vietnam.

The Vietnamese entity, Kredivo Vietnam Joint Stock Company, will be able to leverage Kredivo’s expertise and experience in operating a BNPL firm as well as Phoenix Holding’s extensive network and local knowledge.



Kredivo‘s core products will be launched in stages, starting with bill payments for daily necessities and personal loans, followed by the PayLater feature in e-commerce in the fourth quarter of 2021.

Recent data shows that Vietnam is one of the countries with the lowest credit card penetration in Southeast Asia besides Indonesia and the Philippines, with only 4.1% of the population owning a credit card.

In addition, the credit gap and lack of knowledge about digital payments is a challenge in the country and has resulted in the majority of transactions being carried out in cash.

Valery Crottaz, Chief Operating Officer at Kredivo

Valery Crottaz

Valery Crottaz, Chief Operating Officer at Kredivo said,

“The launch of Kredivo in Vietnam as the first market share outside Indonesia is another achievement and milestone to be proud of this year.

 

Vietnam is a logical choice given the country’s low credit card penetration and a rapidly growing middle class; fast growing e-commerce market; and similar demographic and consumption patterns with Indonesia.”

Ho Minh Tam, Chief Executive Officer of VietCredit

Ho Minh Tam

Ho Minh Tam, Chief Executive Officer of VietCredit said,

“We are very excited to apply the Kredivo digital credit platform to VietCredit’s new products.

 

We believe that collaboration with Kredivo, in the spirit of open innovation, is a powerful digital transformation driver and can offer customers better products and services, this can improve customer experience and gain a competitive edge in the industry.”

 

Featured image: Edited from Unsplash

Print Friendly, PDF & Email
Sours: https://fintechnews.sg/54850/indonesia/indonesian-bnpl-kredivo-begins-se-asian-expansion-plans-with-vietnamese-launch/

Indonesia buy now, pay later start-up Kredivo enters Vietnam

Indonesia’s buy now, pay later (BNPL) start-up Kredivo is entering Vietnam, its first international foray, to tap underbanked communities in the country.

The BNPL firm will tie-up with Phoenix Holdings to establish Kredivo Vietnam Joint Stock Company, it said in a statement on Friday (27 August). The joint venture is partnering with finance company VietCredit to operate Kredivo’s BNPL service.

The announcement came after Kredivo’s parent FinAccel earlier this month said it was eyeing US listing via special purpose acquisition vehicle (SPAC) in the first quarter of 2022, with valuation estimated at USD2.5bn.

Similar consumer patterns

“The launch of Kredivo in Vietnam, our first market outside of Indonesia, is another key achievement and milestone for the business this year. Vietnam came as a logical choice given the low penetration of credit cards in the country and a rapidly growing middle class; the fast growing e-commerce market; and the similarities in the demographic and consumption patterns to Indonesia,’’ chief operating officer Valery Crottaz said.

Learn more about stock trading with our free guides

Founded in 2015, Kredivo has nearly four million approved users and partnerships across eight of the top 10 e-commerce merchants in Indonesia. Aside from BNPL service, it also provides peer-to-peer lending.

“In Vietnam, with a golden generation that is upwardly mobile and digital native, our services like Buy Now, Pay Later will cater to consumer needs where other credit services come with unreasonably high barriers,” said Nguyen Lan Trung Anh, CEO of Phoenix Holdings – a family investment office which invests in digital bank Timo, payment services Moca and peer-to-peer lending Interloan.

Trade iShares MSCI All Country Asia ex Japan ETF - AAXJ CFD

Read more: Singaporean buy-now, pay-later firm FinAccel eyes US SPAC listing

Ready to get started?

Capital.com Download

Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

Sours: https://capital.com
  1. Big bear trout stocking
  2. Used xbox one
  3. Ivanhoe houses for rent
Download, discover, share
Kredivo icon

Make online purchases in Indonesia without a credit card

Latest version

3.4.5

Apr 24th, 2021

Older versions
Kredivo is an app that lets you make online purchases by requesting small loans with a quick turnaround. Thanks to this app, you can buy things online without using your credit card or bank account.

Another interesting aspect of Kredivo is that the app has very reasonable interest rates. That means that you can request small loans without worrying about paying them back at a much steeper price.

Kredivo is affiliated with more than 200 businesses in Indonesia and abroad. This way, you can use the credit on your account to make all kinds of payments, even for your mortgage, which saves you time and effort whenever you want to make a payment from your Android smartphone.

Kredivo is a safe and secure online credit and payment app for getting the money you need. The best part is that you can pay it back at reasonable rates, so you don't have to worry about accumulating unnecessary debt.
Reviewed by Andrés López Translated by Taryn

More information

Package Name

com.finaccel.android

Older versions

3.4.5 Apr 25th, 2021

3.4.4 Apr 25th, 2021

3.4.3 Apr 10th, 2021

3.4.3 Mar 28th, 2021

3.4.3 Apr 11th, 2021

3.4.2 Feb 25th, 2021

See more

Rate this App

Kredivo icon

Rating

Similar to Kredivo

Google PLAY icon

Google PLAY

The best place to buy movies, music and apps for Android

Paypal icon

Paypal

Do all your money management from your phone

Meesho icon

Meesho

A super easy way to purchase and sell all kinds of items

Google Pay icon

Google Pay

Manage your accounts and payments conveniently with Google Pay

Blockchain icon

Blockchain

Buy and sell cryptocurrencies with this app

Easypaisa icon

Easypaisa

Manage your money and payments with this banking app from Pakistan

Discover Productivity apps

T guard icon

T guard

Increase your smartphone's productivity with this Korean app

Unacademy icon

Unacademy

A fine way to prep for India's top examinations

Amex Mobile icon

Amex Mobile

Manage your American Express account no matter where you are

Sours: https://kredivo.en.uptodown.com/android

The corpses should be removed. They will quickly cease to be fresh in the heat. "We begin to drag them into the boat. 2-3 bodies each.

Review kredivo

He took this event with a little disappointment and at first even wanted not. To open it, but remembered that his friend Zhenya had to come to him today to pick up his book. Maxim got up from the sofa and went to open the door. -Hi old. - Zhenya immediately gave his hand and entered.

CEO \u0026 Co-Founder of FinAccel (Kredivo), Akshay Garg, Speaking at Power Lunch, CNBC Indonesia

He plunged into a ball of fire, deeply scratching the leg of the godless succubus. - Trashy, crippled, lousy, - the wounded devil voiced. I will destroy, crush, incinerate you.

You will also like:

Deep in the palm of the hand, the knife buried itself in something hard. I swore I might have to dig elsewhere. But then I got curious and started working harder with the spoon, wanting to know what was in there.



21361 21362 21363 21364 21365