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E-Payment in Vietnam
Tutor: Group: Ms. Mai Yen Nhi Nguyen Thi Lan Anh Nguyen Thi Huyen Nguyen Thi Thuy To Thi Quynh Trang

Contents

1 3
2 3 4 5

General info Opportunities for e-payment in Vn Challenges for e-payment in Vn Nganluong.vn

Recommendations
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General information
E-payment:
Transfer $ from the buyers to the sellers through electric technology One part of e-commerce

In VN:
E-commerce: 27.4% (2009) E-payment: 3.2% (of 27.4% ), 96.8% of cash payment Only 21% know about credit cards, 8% knew about the debit card and 91% know about the ATM card > 20 million Internet users in Vietnam, only 20% have debit cards and 1% have credit cards

E-PAYMENT WILL DEVELOP IN VIETNAM?

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Opportunities

Number of internet users increase

2003: 4% of population (3.1mil) 2009: 26% of population (22.5mil)

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Opportunities

Increase in buying and selling online

Number of commerce websites increase
2005: 200,000 websites 2009:>500,000 websites

Government policy: restrict cash pmt

Prevent the money laundering Avoid the inflation

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Challenges
Payment habits of Vietnamese customers
Prefer cash payment Lack of trust in online payment

Low E-transaction security

Limited E-payment systems

Incomplete law system of E-payment (Tax calculation)

Lack of technology & expertise

Social environment and business practices are not compatible
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HOW E-PAYMENT WORK IN VIETNAM?

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E-payment providers

Nganluong.vn OnePAY DongAbank, Vietcombank F@st MobiPay MobiVi Payoo VnMart NetCASH PayNet

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Nganluong.vn
One of the leading products of
the Peace Soft Send & receive $ on Internet with safety, convenience, protection and dissemination

Allow abroad transaction with

39 foreign countries through eBay.vn

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How nganluong.vn work

Nganluong.vn works such as electronic wallet Each user owns a registered account for individual or
business category Such accounts are linked to a bank account
Buyers deposit $ Sellers withdraw $
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Payment methods
Hold payment
Dominant mode of transaction Payments will be frozen The system will automatically transfer $ to seller within 7 days

"Immediate payment
Sellers you trust Sellers who are verified by Nganluong.vn as "the guaranteed sellers

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Benefits when using nganluong.vn

Publicized procedures & conditions of handling complaints

Obligations and responsibilities of buyers and sellers in the treatment of disputed claims

Security, objectivity & fairness for both buyers & sellers

Compensation insurance for buyers in nganluong.vn incase of financial loss

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Recommendations

For the website:

Investigate rate the truthfulness of sellers Allow the buyers to rate sellers reliability Have software to protect buyers credit card number and personal
information

For the government:

Allow the companies to open bank accounts in foreign countries Allow the information encryption secure the information

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References

2007, Cc website thng mi in t hng u Vit Nam Available at URL:

http://vietbao.vn/Vi-tinh-Vien-thong
(Accessed on September 14th, 2010)

2010, Vietnam NetCitizens Report Available at URL: http://www.cimigo.vn/en-US/ReportDetail.aspx?ProductId=3 (Accessed on September 14th, 2010)
2005, Nhng kh khn khi ng dng TMT Vit Nam) Available at URL: http://www.chungta.com/Desktop.aspx (Accessed on September 14th, 2010) 2009, Li ch thanh ton trc tuyn qua NgnLng.vn Available at URL: http://chodientu.vn/blog-bv-182-2 (Accessed on September 14th, 2010)
2007, Chnh ph mun hn ch dng tin mt Available at URL: http://vietbao.vn/Kinh-te (Accessed on September 14th, 2010)

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Q&A