The Fourth Industrial Revolution is changing various economies across the world, including Vietnam while the investment of foreign technology companies in the country brings about both opportunities and challenges to domestic enterprises, forcing them to produce more competitive goods. Viettel, one of the leading telecommunication enterprises in Vietnam, understood its mission of supporting people nationwide to reach the best services, including money transferring, payment, loans, and savings. Representative from the Viettel Telecom of the Military-Run Industry and Telecommunication Group sharing information about ViettelPay The release of ViettelPay allows customers to transfer money, make payments, deposit money, and even offers loans. It also assists mobile phone users to access banking services anytime, anywhere, and on any cell phones. The service is expected to make digital payments and e-commerce services increasingly popular. It is targeted to help people in … [Read more...] about Viettel launches new app for customers
Mobile app service provider
E wallet services in fierce competition for Vietnamese consumers
(VEN) - Electronic wallet (e-wallet) services are becoming more popular in Vietnam, with around 20 e-wallet apps on the market currently, such as Vi Viet, ZaloPay, 123pay, Baokim, Nganluong, Bankplus, VTCPay, Timo, MoMo, Payoo, MobiVi, and Wepay. Flourishing According to the State Bank of Vietnam, the value of e-wallet transactions in 2017 reached more than VND53.1 trillion, an increase of 64 percent compared to the previous year. As of date, the State Bank of Vietnam has licensed more than 20 e-wallet apps. By May 2018, the Vi Viet app had 2.2 million users and over 19,000 points accepting payments nationwide. The ZaloPay e-wallet, developed by VNG Corporation, aims to open about 1,000 new points of sale in 2018. ZaloPay enables electronic payment of bills such as electricity, water, internet and TV as well as money transfer via QR code and connection with bank accounts for cash withdrawals or recharge. E-wallets have provided services that compete with banks’ internet and … [Read more...] about E wallet services in fierce competition for Vietnamese consumers
Ho Chi Minh City to switch to mobile apps to build e-governance
While several departments and sectors in Ho Chi Minh City are already serving the public online, a top leader has requested that mobile apps replace websites as the cores of the municipal e-governance system. Tran Vinh Tuyen, deputy chairman of the Ho Chi Minh City administration and leader of the city’s administrative reform initiative, believes that websites have fallen behind the times and fail to properly suit the needs of city dwellers. “Only mobile apps are capable of promptly resolving complaints and petitions from the citizens,” Tuyen told Tuoi Tre (Youth) newspaper in an interview published Thursday. Tuyen underlined that building electronic governance, or e-governance, is a key task of the city’s administrative reform effort, as it helps cut time and increase transparency in delivering public services. E-governance is the application of information and communication technology for providing government-to-citizen and government-to-business services, … [Read more...] about Ho Chi Minh City to switch to mobile apps to build e-governance
The rise of Vietnam’s App economy
However, there remains much to be done to take full advantage of trends in the evolving app economy to ensure it develops into a solid contribution to the country’s Gross Domestic Product (GDP), according to a recent report by the Progressive Policy Institute (PPI). The app economy has evolved far beyond the social media and games found in app marketplaces. Today, every industry benefits from enterprise or consumer-facing mobile software components. As such, the app economy is a firm impetus for industry 4.0.Chief economic strategist at the Progressive Policy Institute (PPI) Dr Michael Mandel said, “When Apple introduced the iPhone in 2007 that initiated a profound and transformative new economic innovation. While central bankers and national leaders struggled with a deep financial crisis and stagnation, the fervent demand for iPhones and the wave of smartphones that followed, was a rare force for growth.”Vietnam fosters a nascent tech sector, which includes … [Read more...] about The rise of Vietnam’s App economy
Room for mobile platform development
E-commerce revenue in Vietnam is forecast to reach $2.1 billion this year and with annual growth of 6.5 per cent is expected to hit $4 billion in 2021, according to Statistic Portal. The website also pointed out that Vietnam ranked eighth in Asia-Pacific in shopping on mobile devices in the fourth quarter of 2016, with 29 per cent of purchases. Leading was South Korea, with 55 per cent, then China with 41 per cent. Internet users in both Vietnam and China account for 53 per cent of the population. Mobile devices dominate e-commerce in Asia-Pacific, according to Statistic Portal. Forty-six per cent of online sales are made on mobile devices, which is expected to reach 69 per cent by 2020. Nonetheless, only 19 per cent of enterprises in Vietnam have developed websites that are compatible with mobile platforms, the Vietnam E-commerce Indicator Report 2017 from the Vietnam E-commerce … [Read more...] about Room for mobile platform development