Strategic cooperation between F88 and ZaloPay, who benefits?

F88 and ZaloPay officially signed a strategic cooperation agreement

On July 30, F88 and ZaloPay officially signed a strategic cooperation agreement through which information about F88's alternative lending service with collateral will be displayed on the Zalopay application, helping customers easily register for a loan without having to go to an F88 transaction office.

Overall, the biggest beneficiaries of this cooperation agreement are ZaloPay customers, especially ordinary workers, specifically manual workers and freelancers, who cannot meet the loan conditions from traditional credit institutions.

Currently, ZaloPay has 16 million customers, considered one of the three largest online payment platforms in Vietnam. Meanwhile, F88 is the largest affordable finance chain with nearly 900 stores nationwide, providing millions of loans using motorbike and car registration for its main customers, ordinary workers. However, there are still questions about what else F88 and ZaloPay get behind this strategic handshake?

It is not difficult to see that, with F88, it is an opportunity to reach millions of customers on a digital platform. This was affirmed by Mr. Phung Anh Tuan, Chairman of the Board of Directors and General Director of F88 at the signing ceremony: “With the mission of changing the way people access finance, helping people have a better life through fast, easy and transparent services, F88 is constantly expanding and diversifying its service delivery channels. In addition to developing a system of physical stores nationwide, F88 especially focuses on promoting financial solutions on a digital platform. Cooperating with Zalopay is a strategic step, helping F88 optimize user experience, while contributing to realizing its mission”.

Users benefit when F88 and ZaloPay cooperate

According to experts' analysis, F88's form of lending by registering motorbikes and cars is more difficult to digitalize than the unsecured lending forms of traditional credit institutions in general. However, F88 also has a strategy to bring customer experience and financial services to its own digital platform.

Accordingly, many digital solutions for loan registration help customers save time and effort when borrowing for the first time and in subsequent loans, customers with good credit history according to F88's scale can borrow online through the My F88 application. This digital strategy is considered to have created a competitive advantage for F88 in the popular finance market, alternative finance and cooperation with ZaloPay is a strong highlight in the roadmap to implement that strategy.

With ZaloPay, they expect that the cooperation with F88 will create a comprehensive, secure, easy-to-use digital financial experience that is suitable for the majority of users, as shared by Ms. Le Lan Chi - General Director, at the signing ceremony: "Zalopay aims to popularize financial technology, creating conditions for users to easily access suitable and reliable services. With the advantage of a large user network, we play the role of a bridge, bringing practical financial solutions closer to the people."

Cooperating with an experienced unit like F88 will contribute to improving the user experience, especially for customers who do not have many conditions to access traditional financial services. According to experts, improving customer experience is just one of the goals that ZaloPay is aiming for. Because they believe that when an intermediary payment platform with the advantage of being easy to access, easy to use, and used by many people combined with a form of loan that ensures quickness, ease, and transparency, that is when the first bricks contributing to the creation of a comprehensive financial platform are formed. This is the long-term goal that ZaloPay is aiming for, not only in the cooperation strategy with F88 but also in the cooperation strategy with all other partners.

In the context of strong growth of the digital economy , the need to use flexible, timely and digital financial services of the people is increasing, this strategic handshake has brought benefits to all three parties, customers, F88 and ZaloPay.

Source: https://baodautu.vn/hop-tac-chien-luoc-giua-f88-va-zalopay-ai-la-nguoi-huong-loi-d345392.html