Posts tagged: vtc

A brief history of Vietnam FinTech over the last decade

By , December 12, 2016 2:55 am

The first major event of ‘contemporary’ Viet FinTech was the birth of the then-competing three Bank Switchboards

Then there were OnePay, NganLuong, Payoo, Paynet, Webmoney, VTC Pay, Zing Pay…

I don’t have the ambition to list all players who joined the playground. We thus can skip through VNBC, NTT Data’s acquisition of Payoo, MobiVi’s successful funds raising series from players such as Experian, how BaoKim ‘borrowed’ from NganLuong, Paylink’s closure.

Key takeaway 1: The market consolidated even before it had the opportunity to fragment. It hadn’t taken long for Smartlink to take over the market before the merger (or reverse-acquisition) which subsequently hatched Napas.

Key takeaway 2: To base on bank or non-bank institution should not have even been a question to ask. Merchant-reliant payment solutions still need to run on top of bank-reliant gateways.

e-Payment is no longer stuck

e-Payment used to be a chicken-and-egg problem: no customer base no bargain power, no bargain power no business development. So chicken or egg?

This question, too, is irrelevant. Business development on merchant side must move ahead buyer base, the opposite doesn’t work. So the real question is: investment. A few deal-makers solved it beautifully, named Momo and PeaceSoft.


If FinTech is as at today too ahead of Vietnam economy, should players zen down and wait till the economy catches up?

As much as we aspire to there’s only so much FinTech players can do to speed up the process. Educating users and banks is too costly even with deep pockets.

Then there’s politics.

Anything to do other than zenning and waiting for the retail banking market?


  1. M&A and deal making.
  2. Optimize micro-transactions.
  3. Externalities and network development.
  4. Buy more time, slow down the cash burn rate.
    Fortunately, the market as in 2016 is not as harsh as “the last man standing wins” because players have found their respective verticals.
    Payment solutions are not only e-Commerce; big money is still cash management.
  5. The war against COD. The state of COD today was begun by NhomMua and Lazada. Tough but inevitable battle.
  6. Peer-to-peer financing.
  7. Key question: Strategic partnership with bank(s) is certainly a must, but how deep?
  8. Receiving investment, being a subsidiary (with all accompanying governance), being an associated company, integrate to the gateway, staying as a fa├žade, what help to get from SBV, what help to get from MOF.
    Governance often chooses man not the other way around.
  9. Treading the thin line of symbiosis, avoiding irritating financial institutions.

Bucket seems full, am I deluding myself astray?

Image source:

The treasure named real identity

By , February 11, 2012 7:07 pm
  • Real identities is the next treasure
  • Anything can plug in existing collection of real identities: advertising, market research, insurance, education, real estate, recruitment, pension, legal services, public services… ANYTHING!
  • The current most relevant interface/facade for an identity is a profile on a social network
  • Facebook owns probably the most powerful publicly-acknowledged identity database. Facebook’s real-time data mining has been scarily accurate.
  • Google knows what we search. Facebook knows what we share & whom we connect to.

In Vietnam:


Real identities

Convertible identities

Telecommunication carriers Registered subscribers Unregistered subscribers
Banks Customers, with transaction information N/A
e-Commerce & e-Payment services Customer accounts, with transaction informatio Off-site transactions
FPT ADSL subscribers
Tien Phong Bank customers
Readers of VnExpress & digital products
VNG 123mua & Zing Deal customers Gamers
Zing Me accounts
Zing News readers
VTC TV subscribers
Go accounts
VCCorp e-Commerce (including MuaChung) customers Readers of content products
Soha accounts

How to fully utilize the potential of identity? This is a decade-long strategy.

Vietnam ebooks market, the first step

By , December 15, 2011 12:24 pm

vietnamese kindle

Market size?

Fresh market.


  1. Piracy
  2. User habit
  3. Underdeveloped e-payment system. Currently, most e-payment is done through SMS. Content providers share 50-55% upfront revenue with telecommunication service providers

The Pioneers

  2. VCCorp
  3. VTC Online confirmed the intention
  4. Publishers including FirstNews, Alpha Book, Youth Publisher
  5. Lac Viet

A few players have expressed their intention to join the market. More update when their intentions have materialized and publicized.

Show me the money

I have just personally brainstormed a few ideas how players would workaround the challenges and elicit money from buyers

  1. Target impulse buying demand
  2. Provide convenience for mobile device holders
  3. Provide a complete hi-end experience for smart phone holders – good content to go with good hardware
  4. The long tail where pirates don’t bother pirating
  5. Work with academic institutions to educate and/or coerce students into consuming the contents. Alezaa is deploying this

What categories?

  1. Manga!
  2. English textbooks
  3. Chick lit

Show me MORE money

How to earn enough to be profitable?

I’m using Amazon for a case study

  1. Selling Kindles at subsidy to create the platform for content consumption
  2. Technology-powered automation to control scaling cost, and to serve the long tail
  3. Large scale (one million titles as at December 2011) for network effect which leads to market domination which leads to revenue
  4. Use bargain power to drive down costs from suppliers
  5. Backward integration to cut the costs from suppliers

Image courtesy: Tiendq

ThanhNien Online's New Design

By , August 27, 2008 9:47 am

Following VnExpress & VTC, ThanhNien Online – currently ranking 12th in Vietnam on Alexa – has rolled out a new design.

ThanhNien Online New Design screenshot

This new portal is built on Microsoft SharePoint 2007. Media is built on Microsoft Silverlight.

Overall, the blue theme is more pleasant to the eyes than VnExpress is. Since content is right on the left, it is easier to zoom in than with VTC.

Technically, the biggest issues with SharePoint is performance and scalability. Do you think ThanhNien would encounter any problems with these?

What do you think of this design?

Panorama Theme by Themocracy