The Mobile World Investment Corporation and Cake by VPBank have officially announced their strategic collaboration in launching a co-branded ‘MWG PayLater’ – the first private label deferred payment service for the Mobile World Group (MWG).
In this partnership, MWG PayLater leverages Cake’s full operational capabilities in deferred payment services, offering customers the following features:
● Credit limit approval of up to VND 40 million, completely online within 2 minutes.
● 0% interest installment plans for up to 12 months on products financed by MWG and Cake.
● Flexible payment options: pay in full from the given credit limit or choose a 0% down payment and enjoy an interest-free period of up to 90 days, the longest in the market.
● Seamless integration of electronic identification (eKYC), OTP authentication, and facial recognition (facematching).
MWG PayLater is currently available across all Mobile World Group’s retail chains: The Gioi Di Dong, Dien May Xanh, Topzone, and Avakids. In the next phase (expected in July 2025), the product will expand to all MWG’s offline and online sales channels, including An Khang pharmacies and other member companies within the ecosystem.
According to MWG’s leadership, the product offers customers a seamless experience, from limit registration to deferred payment conversion, usage, and limit management directly on MWG’s Quà Tặng VIP app, making shopping simple, fast, and convenient.
With the option to buy now and pay later, along with flexible payment terms of up to 24 months, consumers will enjoy a convenient, safe, and transparent financial payment experience.
Mr. Truong Hong Hoang, Director of Service Business Development of The Gioi Di Dong, and Mr. Nguyen Huu Quang, CEO of Cake Digital Bank, announce the launch of MWG Paylater
“Today, we are thrilled to introduce MWG PayLater, a tech-finance solution for our customers,” shared Mr. Truong Hong Hoang, Director of Service Business Development of The Gioi Di Dong. “With Cake’s strong financial backing, superior technology, flexibility, and ability to handle large transaction volumes, we are confident that MWG PayLater will be the choice of customers in the future.”
“Cake is proud to partner with The Gioi Di Dong to create a highly practical, accessible, and flexible financial product for consumers,” said Mr. Nguyen Huu Quang, CEO of Cake Digital Bank. “With our expertise in designing tailored experiences for partners and our experience in deploying financial services on a large scale, we believe that MWG PayLater will quickly become a preferred choice for shoppers in Vietnam.”
Customers experiencing the MWG Paylater deferred payment service on the Quà Tặng VIP app
The MWG PayLater deferred payment service aims to serve the mass market, particularly those seeking quick access to consumer finance when purchasing mobile phones, electronics, home appliances, or children’s products.
In the first year, MWG Paylater is expected to reach hundreds of thousands of users, contributing to MWG’s revenue growth and customer engagement.
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