The ride-hailing market in Vietnam was once dominated by international players such as Uber and Gojek, backed by strong investments in technology and marketing. However, after a period of operation, these giants eventually withdrew from the market. Despite facing numerous challenges and fierce competition, local taxi companies persevered and gradually regained their foothold with the help of VNPAY Taxi – a ride-hailing platform integrated into the VNPAY bank and wallet app.
Unlike other ride-hailing platforms, VNPAY Taxi does not develop its own fleet of drivers but instead collaborates with over 200 taxi companies nationwide, including prominent electric and tech-based firms like Xanh SM and Be. This strategy enables VNPAY Taxi to tap into the existing network of drivers and vehicles of its partners, thereby increasing its competitiveness in the market.
As a result of this strategy, VNPAY Taxi can offer faster vehicle search times and significantly reduce customer waiting times. This not only enhances the user experience but also helps local taxis compete on a level playing field with foreign rivals. This collaborative model also provides local taxi companies, which have struggled to keep up with tech-based applications, with new growth opportunities and improved revenue streams.
A key differentiator for VNPAY Taxi is its direct integration into major e-wallets and banking applications such as VCB Digibank, BIDV SmartBanking, Agribank Plus, VietinBank iPay Mobile, HDBank, VietBank Digital, VietABank EzMobile, Eximbank EDigi, and many others. This integration allows local taxi companies to easily and effectively reach over 50 million potential customers nationwide.
A representative from Saigon Taxi Group shared: “Our collaboration with VNPAY Taxi is a strategic move that accelerates our digital transformation and enables us to offer convenient and modern solutions to our customers, enhancing our competitiveness and elevating their service experience.”
VNPAY Taxi is integrated directly into most banking and e-wallet apps, enabling local taxi companies to reach over 50 million potential customers.
Optimizing User Experience
VNPAY Taxi not only benefits taxi businesses but also maximizes convenience for users. Customers can now easily hail a ride directly from their familiar banking or e-wallet application without the need to download any additional apps. This saves time and enhances their overall service experience. Through VNPAY Taxi, customers can book taxis nationwide from a variety of companies, including Xanh SM, Be, Mai Linh, G7, Lado Taxi, Sun Taxi, Bac Trung Nam, Taxi Asia, Da Lat Taxi, Binh An, Tien Sa, and more.
Additionally, VNPAY Taxi frequently offers attractive promotions, such as discounts for new and loyal customers and weekend specials. These programs not only attract new users but also encourage existing ones to use the service more frequently. Mr. Phan Van Ba, a driver for Sao Thu Do Taxi, shared: “Thanks to VNPAY Taxi, I’ve seen a significant increase in my customer base. The ride-hailing and in-app payment system is very convenient, saving time for both drivers and passengers.”
More and more users are choosing to book VNPAY Taxi through banking and VNPAY wallet applications due to its convenience and attractive promotions.
The partnership between VNPAY Taxi and local taxi companies not only brings immediate benefits but also holds promise for long-term positive changes. It can be said that VNPAY Taxi is empowering local taxi companies to compete more effectively with foreign platforms and reshape the ride-hailing market in Vietnam.
The Great Gojek Driver Scramble: Seeking Stability in Uncertain Times
As of September 16th, the online ride-hailing platform Gojek will cease operations in Vietnam. This has left a significant number of drivers struggling to find a new platform to partner with.
The Battle for Vietnam’s Ride-Hailing Market: Be and Xanh SM Grab 51% Share, with Be Emerging as the GenZ Favorite with a 43% ‘Trip Rejection’ Rate
Q&Me rates Be as the top ride-hailing app in terms of customer retention.
The Battle for Market Share: Gojek’s 4-Year CEO Carousel and Their Struggle Against Rising Competitors in Vietnam’s Ride-Hailing and Food Delivery Scene
In January 2023, Gojek Vietnam underwent a leadership change for the third time since its inception. Three months later, a market research expert advised Gojek to withdraw from the Vietnamese market. A year and a half later, this prediction came true.
The Brutal Reality of the Ride-Hailing Market Wars
“With a limited customer base and an oversaturated market, many ride-sharing and food delivery platforms have fallen by the wayside. The challenge of standing out in an increasingly competitive market is a formidable one.”
What Do Drivers Have to Say About Gojek’s Exit From Vietnam?
Gojek Vietnam has announced that it will provide necessary support to all affected parties during the transition period.
