ZaloPay and Grab Vietnam share about cooperation and development orientation

On Feb 28th, the talk “Elevating cashless payments collaboration” was held by Grab Vietnam and ZaloPay to share more details about their partnership in the upcoming months.

In January 2023, Grab Vietnam and ZaloPay officially announced the cooperation to deploy ZaloPay as the payment method on the Grab application.

“As technology companies, Grab and ZaloPay constantly evolve from our experiences. Working together allows us to accelerate the development of both companies by learning from each other. It will help both platforms grow stronger and more sustainable”, Mr Le Hong Minh, Founder and CEO of VNG stated.

According to Alejandro Osorio, CEO of Grab Vietnam, Southeast Asia is witnessing rapid growth in cashless payments due to key factors: the Covid-19 pandemic; the underbanked population; and the rapid development of e-commerce. In Southeast Asia, Vietnam is not slow on its journey to becoming a cashless country. VISA’s Consumer Payment Attitudes Study 2022 indicates that up to 83% of Vietnamese respondents plan to use cashless payment methods more often. That is the opportunity that Grab Vietnam and ZaloPay are aiming to seize in the near future.

Mr. Alejandro Osorio – Managing Director of Grab Vietnam (left) and
Mr. Le Hong Minh – Founder & CEO of VNG (right)

Also at the event, Le Lan Chi, CEO of ZaloPay shared the difficulties when encouraging users to switch to a new form of payment, especially those who have limited technological access or are hesitate to engage in the complicated process of bank registration and linkage. To that end, ZaloPay has taken an unprecedented step in Vietnam’s e-wallet industry – integrated into the Zalo messaging application – to introduce ZaloPay to 100 million Zalo users.

“We understand that promotions are only useful in attracting users and enhancing their experiences as the retention rate depends on the product quality. Therefore, ZaloPay’s long-term development strategy is to focus on delivering good services. Providing solutions to solve users’ pain points is the goal of ZaloPay,” emphasized Ms. Chi.

Ms. Nguyen Thi My Hanh – Vice President of Grab Vietnam (left)
and Ms. Le Lan Chi – CEO of ZaloPay (right)

With unremitting efforts, ZaloPay has achieved more than 11.5 million users in 2022 with a network of more than 13,000 merchant partners and 35,000 payment points across the country. ZaloPay is also recognized as one of the fastest-growing e-wallets in Vietnam. The expansion of cooperation with Grab Vietnam will create conditions for both parties to explore new business opportunities and expand their services.

Through the event, both Grab Vietnam and ZaloPay expect the cooperation between these two large ecosystems to create a more diverse environment for both users and business partners, contributing to the promotion of the cashless community.