Home Credit signed a strategic cooperation agreement with Traveloka, implementing the payment method “Buy now, pay later”

Home Credit Vietnam has just announced the signing of a cooperation agreement for the ‘Buy now, pay later’ project with the Home PayLater product and Traveloka – Southeast Asia’s leading travel platform.

Travel enthusiasts will have the opportunity to freely explore all attractive tourist destinations, “hunt” for air tickets, hotels, travel activity tickets food services… right on the Traveloka platform without worrying about finances with the new and fast payment method ‘Buy now, pay later’ Home PayLater from Home Credit.

Redefine Your Travel Experience with Home PayLater on Traveloka

The “handshake” between two leading companies in the fields of digital finance and online travel brings users, especially young people, the most convenient experiences in just one platform. Now, when there is a need to travel, eat, shop, etc., users can comfortably make plans without worrying about financial costs. This is a strategic step of Home Credit to promote the ‘Buy now, pay later’ service in Vietnam, creating more products with competitive advantages, bringing the best experience to customers.

Mr. Michal Skalicky – Director of Products and Customer Relations of Home Credit Vietnam, said: “Young individuals are constantly driven to embark on travel adventures and explore new destinations. However, with the current difficult economic context, most of them also strive to minimize their financial expenses. The “Buy now, pay later” Home PayLater enables them to indulge in their travel aspirations without the burden of immediate financial concerns. Moreover, through our collaboration with Traveloka, we are committed to providing customers with highly advantageous promotions, flexible payment options, and catering to their specific travel and tourism requirements during special occasions. As the Lunar New Year of 2024 approaches, we aim to deliver an exceptional travel experience tailored to their needs”.

With Home PayLater, customers can enjoy instant access to Traveloka’s services without the need for upfront payment. They can conveniently commence the first payment period starting from one month after the purchase date, all while benefiting from a 0% interest rate. Unlike other providers of “Buy now, pay later” products, Home PayLater does not impose conversion fees, hidden charges, or account opening fees. Additionally, thanks to the integration of Home Credit’s digital technology, customers can experience swift loan approval in under 60 seconds.

Furthermore, when using the Home PayLater payment method, customers can enjoy attractive discounts on all available services offered on Traveloka platform. They can receive a 50% discount, up to a maximum of 100.000 VND, or a 5% discount, up to a maximum of 300.000 VND. Additionally, Traveloka hosts the Home PayLater Day program every Tuesday, providing users with even more enticing promotions, whereby customers can avail a 10% discount, with a maximum value of up to 500.000 VND, on services such as room bookings, airline ticket purchases, domestic and international tours, etc.

Traveloka representative affirmed: “Cooperating with Home Credit – a leading digital financial company in implementing the ‘Buy now, pay later’ Home PayLater will help simplify and technologized the customer experience, providing new payment solutions for young people. In fact, most of our customers book hotels, air tickets, travel services… and make cashless payments. Therefore, methods like Home PayLater’s ‘Buy now, pay later’ are very popular and will help us reach more customers across Vietnam.”

Advantage of being the pioneer

‘Buy now, pay later’ is an increasingly popular form of payment with Vietnamese consumers, especially young people who are tech-savvy and financially proactive. And Home Credit is one of the pioneering companies in this segment in Vietnam. The birth of Home PayLater provides users with a quick and simple method of registering to buy now and pay later, taking full advantage of digital technology, targeting customers who are the digitally savvy younger generation. Requires convenient, seamless, and financially knowledgeable shopping.

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Home Credit Vietnam team and Traveloka cooperate in the Home PayLater project

According to statistics from the market research company Research & Market (*), the application of ‘Buy now, pay later’ payment in Vietnam is expected to achieve a compound annual growth rate of about 31.1% in the period of 2023-2028. The total value of goods bought now and paid later in the country will increase from 1.5 billion USD in 2022 to 9.1 billion USD in 2028. With this great potential, pioneers like Home Credit will have great advantages in market development and market share to increase experience, retain customers and stimulate consumer demand.

Currently, not only in the travel industry, Home PayLater’s ‘Buy now, pay later’ method can be easily searched at more than 450 sales points and e-commerce platforms nationwide such as Tiki, Meta.vn, Gosumo, Shooz.vn, Mobile World, Hoang Ha Mobile, Bach Long Mobile, ShopDunk, Di Dong Viet,… This is even more evident in the context of competition and the need to retain customers, besides traditional sales channels, brands also attract a large number of customers through online sales channels with buy now pay later methods such as Home PayLater.

About Pioneer

Pioneer Marketing & Public Affairs is a premier marketing agency, based in Hanoi, Vietnam, providing marketing and public-affairs consultancy. Founded in 2004, we offer a broad range of insight-driven, public-affairs and marketing communications solutions to clients in various industries ranging from aviation, e-commerce, fintech, FMCG, nutrition, and information and communications technology. For more information, please visit: https://pioneervn.com/who-we-are/

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