Director of YOLO Shameek BhargavaViet Nam News VPBank recently launched a digital bank called YOLO in which users can access not only daily services such as taxis, movies, hotel bookings and food and beverage orders, but also banking services including savings and loans associated with Master Card. Director of YOLO Shameek Bhargava talks with local media about the unique digital banking platform that VPBank is proud to add to the market Can you tell us about the background of the digital bank? The idea of forming YOLO originated from the desire to create a digital platform capable of reaching and serving millions of new customers quickly – a digital banking platform that has the potential to thrive and break through what we see as the traditional banking model. With such big ambitions, we have used a completely new, independent technology platform that is different from current banking platforms which use the traditional core banking system. This platform allows us to grow … [Read more...] about YOLO digital bank expected to make a breakthrough in mobile financial service
Mobile app service provider
Along with the increasing number of smartphone users, several banks have developed services to support financial transactions via mobile phones. Online transactions may replace traditional methods A survey on internet usage in Southeast Asia by Nielsen in 2011 showed that two out of every five Vietnamese use smartphones to access internet. At the time of the report online banking service for mobile phones were still new and simple. But with the increased access to broadband networks, WiFi services and a huge smartphone and tablet market, consumers are getting online more often. As a result, banking services for mobile phones have increased dramatically. Such services facilitate consumer banking by taking away the necessity to travel to a bank branch, ATM machine or even a computer. They have also made it easier for smartphone users to pay bills and transfer money. Since 2011, many banks have started to develop their own smartphone apps to promote their mobile banking services. … [Read more...] about Mobile banking services flourish in Vietnam
MOCA officially launches its service in Viet Nam. — VNS Photo HA NOI (Biz Hub) — MOCA Technology and Service Joint Stock Company this week launched its mobile payment service after three years of development. The service, a free app on smartphones, enables card owners to pay online transactions Founded in 2013, MOCA provides a free payment application on iOS and Android platforms for Vietnamese consumers. After installing the app, consumers can use their cards to conveniently pay their online transactions anywhere at any time via their smartphones. Since its founding, MOCA has cooperated with VPBank, ACB, OCB and Visa, MasterCard and JCB in collaboration with Sacombank. The service can be used at many merchants, including dining, shopping, travelling and entertainment sites. In another matter, MOCA has received the Payment Intermediary Service License given by The State Bank of Viet Nam. It has received certification for the international PCI-DSS standard for safety in … [Read more...] about MOCA lauches mobile payment service
The app, Rada, connects users to an online marketplace of repair and home services. A Vietnamese application named Rada has recently been granted a $40,000 subsidy package from FBStart, a new program designed by Facebook to help mobile startups. Launched in 2015, Rada allowed users to search for motorcycle repairing services in their region. The application then expands to other areas like household equipment repair, healthcare, food, construction, electricity and water services. The sum of $40,000, or nearly VND1 billion, will be converted into tools and services provided by Facebook and its partners, together with mentorship opportunities. Co-founder Ta Quang Thai said the aid package, though not in cash, will help Rada strengthen its marketing strategies. Currently, the app has been downloaded over 80,000 times from the Apple Store and Google Play with around 50 successful transactions per day. Rada’s founders aims to reach 500,000 users by the end of 2016, with 500 … [Read more...] about Vietnamese mobile app gets Facebook’s $40,000 support package
VietNamNet Bridge - The biggest rivals of domestic mobile network operators are not other domestic mobile network operators but are rather cross-border multi-service providers who will be their most formidable rivals. The Vietnamese mobile telecom market recently has witnessed a series of important events. The military telco Viettel has been intensifying its outward investment while launching a many other non-voice and non-SMS services in the domestic market. Meanwhile, VMS MobiFone has left VNPT to become MobiFone Corporation which provides multi-services. The restructuring of VNPT Group has completed, after which VNPT-Vinaphone will provide many other types of services together with traditional services. The costly process of restructuring businesses and the heavy investments in non-voice and non-text services, according to analysts, show the strong determination to deploy new business strategy. They said that in fact, Vietnamese telecom groups have no other choice than … [Read more...] about Mobile networks operators or service providers?