Much quicker than expected the number of digital consumers in Southeast Asia is growing exponentially. There is no doubt that the number of digital consumers in this region will reach several million in the future. The number of digital wallet payments facilitated by leading online payment providers in Vietnam and the rest of Southeast Asia is only going to keep rising in the near future. Take a look at some of the advantages you can enjoy with online or e-bank payments in SEA.
Cashless Payments in Southeast Asia
When it comes to a digital economy, China has been a clear leader in this regard. Across this populous nation, fintech firms have been instrumental in executing cashless payments. However, in recent years, other parts of Southeast Asia have also provided competition to challenge this status quo. It has been noted that commercial bank customers who form a large percentage of urban consumers in the region, already use the e-bank payment for SEA (Southeast Asia).
Recent Growth and Government Support
Southeast Asian consumers are driving a digital payment revolution, which is all set to grow in leaps and bounds. For example, for the development of cashless payments, the Vietnamese government has launched a special financial scheme. Further, apart from local payment solutions, several international players have also started investing in Vietnam.
Safer and More Convenient Payments
Payment providers try to make online payments safe and more convenient as they strive to improve service quality and develop new features. Online businesses or customers have several different choices when it comes to choosing a payment gateway. Small and medium enterprises can access these services without going through several complicated procedures. Further, reputed providers offer a customized service that can be tailored to meet the requirements of a growing business. A 24/7 service is also often provided to make it more convenient.
Virtual Account Solutions
Certain online payment providers in Vietnam offer virtual account options to meet the growing demand of the merchants in the market. Supporting more than ten Vietnamese banks, virtual account payments can be received within seconds. A variety of payment options such as ATM, QR code payments, and e-wallet payments are also taken care of by these providers. On an approval basis, they also support OTC banking options.
Reach a Wider Customer Base
With flexible settlement schedules, multiple currency transactions, hosted payment pages, mobile payment, batch payment, and multinational transactions, there’s no limit to the options for online payment providers in Vietnam. Get in touch with leading providers so you can get started on offering high-end services to your customers. Do not let the competition get the better of you. Invest in professional online payment solutions to capture the SEA market.