Through its Vietnamese subsidiary, Net Protections is partnering with BVBank to expand the availability of its BNPL payment service AFTEE. The service will be rolled out to businesses in the region, including large-scale e-commerce operators.
Net Protections has started a business partnership with Vietnam Thuong Tin Commercial Joint Stock Bank (BVBank) and will expand the availability of its buy now, pay later service AFTEE in Vietnam. Against the backdrop of growth in the Vietnamese market, the companies will establish a new framework to meet demand for payment options using BNPL.
Vietnam's e-commerce market continues to grow, and research indicates rising demand for flexible payment options beyond conventional payment methods. Use of buy now, pay later services is expected to expand, particularly among younger people and women, and the local rollout of AFTEE will enable the service to support a diverse range of businesses.
With AFTEE, registered members can pay later for purchases using only SMS OTP, and can choose installment payments in up to 12 installments. Merchants adopting the service can meet demand for buy now, pay later options, with expected benefits including higher average order values and the acquisition of new customers.
Net Protections Vietnam will lead the rollout in Vietnam and, in partnership with BVBank, will enable AFTEE to be adopted by a wide range of businesses, including large-scale e-commerce platforms.