Home Credit has become a market leader in the BNPL thanks to Home PayLater. After a simple credit appraisal process, consumers immediately receive short-term loans from Home PayLater to purchase and pay for products and services.

The advantages of Home Credit's Home PayLater lie in its simplicity and speed. Customers can use the BNPL service immediately without needing to go to a check-in counter or declare their credit status. All registration and shopping takes place online with a quick five-minute approval process.

Home PayLater allows consumers to break down purchase payments into interest-free instalments over one to 12 months.

While most BNPL lenders in the market require customers to pay before using the service, Home PayLater has been developed with the five nos in mind: no prepayment, no interest, no hidden fees, no prepayment conversion fee, and no early settlement fee.

As a result, customers can feel secure when choosing Home PayLater's services. This helps build customers' trust amid the warnings of hidden interest loans and additional conversion fees charged by black credit institutions. With Home PayLater, customers can select from payment terms of 1, 3, 6, or 12 months. The service not only brings convenience to customers, but also matches their financial goals.

(From left) Vu Tri Thanh, OnePay’s operation director, Nguyen Minh Dao, Home Credit Vietnam’s E-commerce Partnership manager, Dang Thanh Phong, OnePay’s general director, Anna Matejovska, Home Credit’s Vietnam head of E-Commerce and Digital Lending, and Nguyen Thi Thuy Ngan, sales director of OnePay

Home Credit has entered a strategic cooperation agreement with OnePay, a Vietnamese enterprise specialising in providing digital payment solutions.

The tie-up is part of Home Credit's strategy to promote digital transformation and inclusive digital finance, which promises to create a comprehensive digital consumption ecosystem that benefits both the users and brand partners of Home Credit.

When using Home PayLater, customers can easily search for partner brands in various industries, such as fashion, travel, accessories, electronics, education, and services.

The fact that brands are also increasingly cooperating with Home Credit is a testament to the development potential of BNPL in Vietnam. For example, many names such as Ivivu, Triumph, Awake Your Power, and 24h store have officially cooperated with Home Credit. Along with traditional sales channels, brands also attract customers by adopting the BNPL service offered by Home PayLater.

Michal Skalicky, Home Credit Vietnam's CCO

Michal Skalicky, CCO of Home Credit Vietnam said, "In the future, the platform will promote partnerships with other suppliers and strategic partners such as OnePay to enhance users’ digital experience with modern shopping. We aim to meet the needs of smart, digital finance through technology platforms and policies which provide practical benefits for users."

Vietnam is entering an era of digital transformation, especially in the consumer economy. According to Statista, the country's e-commerce market is forecast to increase from $13 billion in 2021 to $39 billion in 2025. This strong growth is fuelling the rise of digital apps and services to meet the rising demands of customers.