MEMBERS:
of Vietnam's payment market O
1. TRẦN ĐỨC THÁI
2. LÊ PHƯƠNG ANH
3. PHAN THỊ KHÁNH LY
HOW IT WORKS ?
1. The cardholder is identified as the
consumer who purchases a product
or service online.
2. The merchant is the person or
business that sells goods and
services to the cardholder.
3. The issuer is the financial institution
that provides the cardholder with the
payment card.
4. The acquirer, or merchant account
provider, is the financial institution
that establishes an account with the
merchant.
5. The payments processor handles the
official transaction between the
cardholder and merchant.
6. The payment gateway processes
merchant payment messages and
uses security protocols and
encryptions to ensure transaction
safety.
APPLICATION :
Vietnam remains one of the most attractive
markets in the region for investors interested
in the fintech sector :
The potential Infrastructure Non-cash payment
Vietnam is still a
a high
Vietnam has
predominantly cash percentage of smart
based economy, where devices with internet
more than 70% of the connections globally
population is not part Statistically, the
of the banking country has 45%
ecosystem, ATMs bank smartphone
branches in rural areas penetration and 57%
. internet penetration.
T HREATS Enhancing the value and scale
People in rural areas do not have much access to The rate of using non-cash P
OPENING non-cash payments, delaying the process of
digital transformation and national financial
payment is increasing,
promising to become a popular P
universalization. method, replacing cash because O
DEFINITION & HISTORY of its convenience and
The legal environment in the field of electronic
payment is still incomplete and synchronous.
increasing modernity R
T
Fintech has leveraged the
Lack of linkage between banks, payment power of modern technology to U
DEFINITION intermediaries and companies providing
electronic payment solutions.
make a breakthrough in the
provision of payment services. N
Payment is a form of exchange of goods, and services in I
exchange for another form of goods, and services agreed by all Attracting the attention
Fraud and risk of fraud from electronic payments
parties involved. Electronic payment is understood as a form of are on the rise
and investment of T
online payment. foreign businesses
I
With traditional payment processing systems, a customer can E
use cash, checks, magstripe cards, EMV chip cards, or mobile
payment options. S
S
Fast and convenient: Make transactions anytime,
anywhere, quickly and simply on electronic devices
E-payments are orchestrated by an electronic funds transfer
with internet connection. Forgery and technical risks: Scams
(EFT), which is the process of transferring money from one
entice people to send money illegally
bank account to another without any exchange by hand. Save costs and time: not have to spend a lot of time and hacker risks are increasingly
T moving to the address to pay, but just perform a few
quick operations on electronic devices.
sophisticated.
R Enjoy many incentives: When paying online through
banking applications you will receive many
Risk of information insecurity:
Customers sharing personal account
E
incentives. This contributes to speeding up the e- information, transferring money from
commerce process. unsecured websites or giving a
phone/computer with installed
HISTORY N Flexible payment: Online payments can be made
through a variety of methods giving you the
applications to other users.
G
flexibility to choose online payment line according
The legal corridor on e-commerce is
to your needs.
1989 - Tim Berners-Lee invented the World Wide Web. still not specific: The law does not
1994 - Stanford Federal Credit Union was the first financial T Increase the circulation of money and goods: have clear regulations on risks in e-
payment.
Electronic payment helps monetary transactions to
institution that offered online internet banking services to all its be done quickly, safely and securely.
members.
H Completing and developing e-commerce: creating a
Enterprises do not have enough
infrastructure to develop e-commerce.
Late 90s, Electronic payments were on the rise.
1994, two seemingly unrelated events occurred: S safe and convenient commerce environment and
meeting the increasing demand for transactions as
WEAKNESSES
the population is constantly increasing.
SWOT
Fintech is a broad
industry; therefore, at
present, Vietnamese
PAYMENTS
laws provide neither a
definition of Fintech nor
a single comprehensive
instrument for
regulating fintech
activities.
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