Zalopay and CIMB Vietnam launch Installment product

Ho Chi Minh City, October 30, 2024 - Leading online payment platform Zalopay and CIMB Bank Vietnam have just cooperated to launch the Installment product right on Zalopay application with a limit of up to 30 million VND.

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

CIMB Vietnam's Installment product on Zalopay provides users with an additional flexible and easy payment method, thanks to the ability to expand for low-value payments from only VND 500,000. The product also has a competitive interest rate and does not require prepayment, helping customers meet urgent spending needs and reduce financial pressure. Users can flexibly choose different installment packages with terms of 3, 6, 9 or up to 12 months, depending on their personal financial plans and capabilities. The registration process is completely free and designed to be simple. To use, Zalopay users only need to access the application, select the "Installment" section, complete the registration form according to the form and wait for approval from CIMB Vietnam Bank. After the application is approved, users can choose the Installment method at the payment step when using services and utilities on the application; and have the opportunity to participate in additional direct promotional programs when paying in installments on Zalopay.

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

“The Installment 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 budget more effectively but also be more flexible, when they can pay for essential expenses, from tuition fees, monthly bills to travel and transportation activities.” – Ms. Le Lan Chi, General Director of Zalopay emphasized. On behalf of CIMB Bank Vietnam, Ms. Le Hien Trang, Director of Strategic Partnerships and Marketing, said, “CIMB identifies its core strategy as developing its business operations based on a new partnership model strategy with the aspiration to bring customers the best digital banking services. Cooperating with Zalopay is our strategic move to expand digital financial products in Vietnam. With Installment Payment, CIMB and Zalopay expect that the product will not only bring practical value to customers, help them be more flexible in managing their personal finances and improve their daily quality of life, but also contribute to promoting the development of the financial industry in Vietnam.”

CIMB Vietnam and Zalopay have cooperated to deploy 03 financial products on Zalopay including: Postpaid Account, Savings Deposit and Installment Payment

Previously, the two products Postpaid Account and Savings Deposit jointly deployed by Zalopay and CIMB Vietnam also received positive support from users. Zalopay and CIMB Vietnam are committed to continuing to cooperate closely to expand personal financial solutions in the future, with the goal of becoming a trusted companion of users on their personal financial management journey, contributing to creating a comprehensive, convenient and safe digital financial environment.

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