Zalopay CEO: I used to not like being CEO but "will do whatever is best for Zalopay"

With 12 years of experience studying and working in the US, graduating with an MBA from the prestigious Harvard University (USA), but the young girl Le Lan Chi decided to return to Vietnam and stick with Zalopay, because of her belief in "a cashless society".

Journey to "join the army" at Zalopay Chi joined Zalopay in 2019 as Head of Finance and held various positions in the following 5 years, from Operations, Marketing, Customer Care to developing the Comprehensive Finance product group. Thanks to that, she has important insights into products, users and partners.

In early 2023, Chi was officially appointed CEO of Zalopay. "Actually, I just want to focus on my expertise and not be a CEO," she recalled. In order to best take on the leadership role, Chi has constantly worked and studied to develop herself from the smallest things. All of these are aimed at a single goal: trying to do the best she can to help Zalopay become better and better. The female CEO even refused a private office to be closer and more intimate with the staff. The pressure of the electronic payment industry comes not only from the general global economic situation, market competition, the need for large investments... but for Zalopay, the most important thing is still to fully meet the needs of users so that they truly love and stick with the product. To do so, Chi determined that the staff must believe, be steadfast and make efforts to develop the product, moving towards a cashless society in Vietnam is the most important thing. “First” achievements Understanding Zalopay helps the “female general” Zalopay determine that e-wallet is a means, not a destination. This has been proven when Zalopay has continuously launched breakthrough payment and financial products in recent years. By July this year, the payment application made its mark on the market with the event of announcing a new brand identity. At the same time, Zalopay also announced its orientation to become an open payment platform, not only serving e-wallet users but also expanding to digital payment users in general; at the same time providing a comprehensive set of personal financial products.

*Zalopay announces new brand identity in July 2024*

It was not easy to achieve this turning point when there were many conflicting opinions at first. Chi spent time patiently answering questions, as well as convincing each group of employees in detail about the open ecosystem. “Zalopay believes that when all members understand and share the same development goals, the organization will develop in the right direction and sustainably,” Chi expressed.

*Each step of product improvement, each achievement that Zalopay achieves is the effort of the whole team with the same direction and goal - CEO shared*

After more than 6 years of development, Zalopay has reaped the “sweet fruits”: serving more than 14 million users, providing a product portfolio of more than 100 convenient services. Zalopay is continuously on the list of favorite payment platforms in the country and in 2023 is the only Vietnamese representative in the Top 200 global financial technology (fintech) companies ranking announced by the American television channel CNBC.

In particular, the bold move to allow users to freely use all services on the Zalopay application without linking to a bank has recorded positive signals. In addition to the stable number of Wallet users, the number of payment transactions via non-Wallet forms such as bank transfers, international cards or Apple Pay accounts for about 37% of new users every month. Putting people as the core element Despite having a long time studying and working abroad, Chi quickly adapted and expressed her desire to build an open working environment, promoting creativity and a culture of empowerment. The Zalopay Town Hall (periodic quarterly meeting) was born for that reason. "I want to make it a tradition of Zalopay, in each of these meetings, Zalopay's leadership will try to be as transparent as possible, answering all questions from employees, without exception."

*Zalopay CEO Le Lan Chi shared at the quarterly meeting last August*

With a strategy of prioritizing human resource development from within the company, Zalopay focuses on building a Fresher program for the Product and Business teams, helping young employees understand the product, have a technological mindset, gradually equip themselves with knowledge and gradually take on greater responsibilities. “The team behind is the core factor to develop a product. I hope that every member of Zalopay has the opportunity to become a better version of themselves.”

Positive changes in Zalopay's management strategy have gradually built trust and promoted human resource and product development. Although there are still many challenges, these steps are opening up a new direction for the company in the financial technology market. "In the context of many difficulties in financial resources and human resources, all Zalopay members share the same goals and work together to create major changes in the product. I am very proud of you all," said Zalopay CEO.

According to the World Economic Forum in June 2024, women currently account for 42% of the world's workforce and 31.7% are in the management group. However, only 25% of women hold senior executive positions in companies (C-level).

Source: https://www.vng.com.vn/news/enterprise/zalopay-ceo-le-lan-chi.html