Zalopay and CIMB Vietnam launch Installment product

Ho Chi Minh City, October 30, 2024 - Leading online payment platform Zalopay and CIMB Bank Vietnam have partnered to launch an installment payment product on the Zalopay app with a limit of up to 30 million VND.

Installment payment products aim to improve users' lives with flexible and easy payment methods.

CIMB Vietnam's Installment Payment product on Zalopay offers users a flexible and easy payment option, thanks to its ability to cover low-value payments starting from just 500,000 VND. The product also boasts competitive interest rates and requires no down payment, helping customers meet urgent spending needs and reduce financial pressure. Users can flexibly choose different installment plans with terms of 3, 6, 9, or up to 12 months, depending on their personal plans and financial capabilities. The registration process is completely free and simple. To use, Zalopay users simply access the application, select the "Installment Payment" section, complete the registration form, and wait for approval from CIMB Vietnam Bank. After approval, users can choose the Installment Payment option during the payment process when using services and features on the application. And you'll have the chance to participate in additional promotional programs directly when paying in installments via Zalopay.

The installment payment registration process is done on the Zalopay application platform and is completely free.

“The Installment Payment product is part of Zalopay’s long-term strategy to develop a comprehensive financial ecosystem. We believe that through this product, users’ personal financial experience will be improved. People will not only manage their budgets more effectively but also have more flexibility, being able to pay for essential expenses, from tuition fees and monthly bills to travel and transportation activities,” emphasized Ms. Le Lan Chi, General Director of Zalopay. On behalf of CIMB Vietnam, Ms. Le Hien Trang, Director of Strategic Partnerships and Marketing, stated, “CIMB's core strategy is to develop its business based on a new partnership model, driven by the aspiration to provide customers with the best digital banking services. Collaborating with Zalopay is a strategic step to expand our digital financial products in Vietnam. With Installment Payments, CIMB and Zalopay expect the product to not only bring practical value to customers, offering greater flexibility in personal financial management and improving daily life, but also contribute to the development of the financial industry in Vietnam.”

CIMB Vietnam and Zalopay have collaborated to launch three financial products on Zalopay: Postpaid accounts, Savings accounts, and Installment payments.

Previously, the two products, Postpaid Account and Savings Account, jointly launched by Zalopay and CIMB Vietnam, also received positive support from users. Zalopay and CIMB Vietnam are committed to continuing close cooperation to expand personal finance solutions in the future, with the goal of becoming a reliable partner for users on their personal financial management journey, contributing to creating a comprehensive, convenient, and secure digital financial environment.

Source: https://www.vng.com.vn/news/press-release/zalopay-launches-installment-product.html