E-payment Market Case Study: Vietnam
Digital Assessment Of E-commerce And Payment Market Landscape In Vietnam
A global multinational, which was considering an investment in Vietnam’s e-commerce industry. The client wanted to know the industry landscape, validate its market attractiveness, and have a better understanding about local regulatory issues.
The client wanted to better understand the e-commerce market and payment market landscape in Vietnam to assess the viability of its planned investments. It needed a thorough and detailed understanding of retail and payment trends in Vietnam including traditional retail vs. modern vs. e-commerce, as well as use of cash, bank transfers, and plastic cards – including credit, debit, and prepaid – to make online & offline purchases, pay bills such as utilities, and issue remittance payments.
Solidiance Digital placed a team composed of 2 consultants plus 1 manager on this project. The team had deep knowledge of Vietnam’s technology and retail landscapes from previous engagements, so there was no time lost to product learning. Solidiance digital provided a detailed digital internal assessment and digital benchmarking services for digitization strategy.
Solidiance Digital helped the client by providing a detailed evaluation of the e-commerce and payment market landscapes, examining the retail industry, the banking industry and ATM usage, domestic & international remittances, the penetration and usage of plastic cards, and the prevalence of cash payments. Solidiance also advised the client on the competitive landscape, including an analysis of competitor strengths, weaknesses, and gaps.
This study gave our client the strategic information needed to grasp the potential of the e-commerce and payment industries in Vietnam, as well as the insight and context needed to understand how its IPS could fit within the overall payment market landscape.