Mobile banking in Vietnam
NH Nonghyup Bank announced on April 4 that the bank will join forces with VIMO, a Vietnamese mobile payment company, and CJ E&M Vietnam, a Korean cultural contents company, in an effort to take over Vietnam's mobile market.
On June 1, NH Nonghyup Bank signed a business agreement with VIMO, a local mobile payment company in Vietnam, and CJ E&M Vietnam, a Korean-language content distributor in Vietnam, to launch a Vietnamese version of mobile bank “All One Bank” scheduled to debut in the second half of this year.
VIMO is a mobile payment company headquartered in Hanoi, Vietnam. The company has about 10 million members and strong offline partners, and is planning to jointly launch an “e-wallet” service, which enables local customers to remit money, pay and withdraw money from ATMs.
In addition, NH Nonghyup Bank is planning to provide “QR code payment,” which enables Korean tourists visiting Vietnam to pay at hotels and duty-free shops for the first time among Korean mobile banks. Also in the works is an overseas remittance service using electronic wallets in Vietnam.
In addition, considering a strong Korean cultural wave in Vietnam, NH Nonghyup Bank is planning to provide “Tving” contents through All One Bank in partnership with CJ E&M’s Vietnamese subsidiary.
Meanwhile, NH Honghyup Bank is working on various alliance to build a new global mobile bank model, such as signing a business agreement with Korea-Vietnam Friendship IT University on June 2 in order to forge partnership with Tigo, a popular local scheduling and community service in Vietnam.