Founded in 2019 by The Global Economics, a UK-based financial and business magazine, The Global Economics Awards (TGEA) honours organisations and individuals that excellently drive innovation, growth, and transformation in industries shaping the global economy, such as banking, insurance, consumer finance, and technology. The 2024 theme, "Innovation, Excellence, and Transformation in the Global Market," highlights businesses that lead with cutting-edge innovations and demonstrate excellence in execution, revolutionising how industries engage with consumers and services.

Home Credit’s double win affirms the company’s outstanding efforts in shaping the consumer finance industry with innovative solutions. It also marks Home Credit Vietnam’s third inclusion in The Global Economics Awards list, reflecting its leadership in innovation in consumer finance and its continued focus on consumers.

Leading with a user-centric approach

According to TGEA’s distinguished judges, through a rigorous, transparent evaluation process, the Home App has dramatically transformed the way individuals interact with and manage their personal finances, making financial services more inclusive, efficient, and convenient.

The app has been specifically designed with a user-centric approach, offering a seamless and intuitive interface that allows customers to easily manage their entire personal finances on a single platform. From applying for, tracking, and paying off loans, managing credit cards and Buy Now, Pay Later through Home PayLater, to budget planning tools, everything is intelligently integrated. Since its launch in August 2022, the app has reached 6.6 million downloads.

Mr. Lê Phước Phúc, Head of Online at Home Credit, stated, 'Being recognized as the "Best Consumer Finance Mobile App" is a testament to Home Credit's ongoing efforts to provide modern, accessible, and user-friendly digital financial solutions to all our customers.

The app’s diverse and flexible payment features are also a major strength – and with attractive promotions and a quick payment process, the app attracts nearly half a million customers using this feature each month, contributing significantly to the company’s total revenue. Users can comfortably choose from various payment methods for needs such as settling loans, paying utility bills, topping up phone credit, and making payments using QR codes.

Additionally, with an optimised online cash loan process on the app, approval and disbursement take only 3 minutes, providing a fast, convenient, and seamless experience for users.

Dedicated to continuous innovation

The win for Home PayLater also comes from Home Credit Vietnam’s focus on continuous innovation, guided by the belief that people and technology together play crucial roles in shaping the finance sector.

The product’s newest award demonstrates its profound impact on Vietnamese consumer behaviour. By offering consumers a digital account to make cashless payments and purchases online with no hidden fees and the option to pay for them later on their own terms, it meets the growing need for affordable and convenient financing solutions. Home Credit was also the first BNPL provider in Vietnam to implement the QR code scanning payment feature, one of the most popular payment methods in the market today.

Mr. Winardi Wijaya, Head of Home PayLater at Home Credit, accepted the award for ‘Most Innovative BNPL Platform.

In partnership with VietQR, Home Credit became the first consumer finance company in Vietnam to allow customers to utilise their Home PayLater account for flexible payments at more than 700,000 VietQR acceptance points across the country.

Notably, the Home PayLater platform integrates advanced Artificial Intelligence (AI) algorithms that assess creditworthiness in real time and provide personalised payment plans based on each consumer’s unique financial profile. TGEA’s judges recognised that it is the speed and accuracy of the platform’s approval process that have made Home PayLater a favourite among consumers looking for a fast, hassle-free financing option.

Furthermore, to expand its footprint across various sectors, Home PayLater has strategically partnered with major retailers and e-commerce platforms, making it an essential payment tool for modern-day consumers. In particular, on December 13, 2024, Home Credit Vietnam and Mobile World Group officially signed a strategic partnership agreement for the Home PayLater product, which will provide customers with a "Buy Now, Use Now, Pay Later" option across the Mobile World Group system. Earlier, a partnership between Home Credit and Be Group introduced Home PayLater as a new payment option for over 10 million BE users.

Mr Winardi Wijaya, Head of Home PayLater at Home Credit, shared: "Winning the award for the 'Most Innovative Buy Now, Pay Later (BNPL) Platform' is proof of Home PayLater's success in providing an innovative BNPL solution that empowers customers to take control of their finances and fulfil their shopping needs.”

At the beginning of the new year 2025, Home Credit launched a series of attractive incentive programmes for customers. Home Credit offers a 20% discount (maximum 50,000 VND) on e-bill payments and top-ups via the Home App. With Home PayLater in January, consumers can enjoy a 50,000 VND discount at supermarkets, convenience stores, restaurants, and beauty shops, or save 50,000 VND on their first Home PayLater transaction with VietQR with a minimum transaction amount of 150,000 VND. Those who buy electronic products or accessories in Mobile World and Dien May Xanh will get up to 100,000 VND off until February 28.