Vietnam's financial technology and other new payment methods grow

It is expected that cooperation with legal persons of local enterprises will also improve competitiveness. On December 31, the Ministry of industry, commerce and resources and Gyeonggi do held the "G-FAIR Korea" Conference on the strategy of small and medium-sized enterprises entering Vietnam market in Korea International Convention and Exhibition Center. Kang Hodong, director of BECAMEX IDC, said: "due to the lack of e-credit payment methods and quality concerns in Vietnam, 85% of online shopping users choose the payment method of spot delivery, and the new payment method combined with smart phones has huge growth potential. Only 3.5% of Vietnamese have credit cards. Although there are many kinds of e-payment services in the market, such as baokim.vn, PayPal, Momo, etc., the mobile phone usage rate of young people is high, and the payment mode combined with mobile phone is more likely to develop.

Since 2010, the cosmetics and beauty products market in Vietnam has grown by more than 16% annually. Influenced by Korean current, Korean products have been popular. Unilever, a multinational enterprise, has entered Vietnam in the form of joint venture. It has developed continuously on the basis of the existing circulation channels. Through the acquisition of local enterprises, it now has a high market share. After providing product information through smart phones, unicharm, a Japanese enterprise, has set a precedent for foreign enterprises by improving market share through the omni-channel strategy of offline stores selling products. In particular, through online shopping and social networking sites, the number of direct purchases is increasing. In addition, due to concerns about quality, freight, time and after-sales service, product diversity, price and discount rate have become major determinants of purchase. According to the 2018 Vietnam market survey data, 36% of consumers expressed dissatisfaction with product quality on the basis of return, accounting for the highest proportion, followed by simple change of mind (27%), inconsistent with product photos (22%), dissatisfaction with distribution (14%). He also said that with the modernization of channels, convenience stores, large shopping centers, supermarkets (discount stores) are increasing, and the high-end market is growing. The circulation of similar products should be noted. The Chinese brands mumuso and mini goon have opened stores in the prosperous areas, which are popular with the Korean wave. Therefore, they need the government's response and support. According to Director Jiang, "Vietnam is the gateway to enter the New South market instead of the Chinese market. Therefore, it is necessary to understand the retail and electronic market of the country."