With total disbursements targeted at billions of US dollars, the two companies aim to significantly scale up their partnership, address a broader range of customers’ financial needs and deliver more practical value.

From their initialWhat began as cooperation on individual financial products is gradually evolving into a broader, longer-term strategic partnership. Cake and DMX plan to improve service quality, expand financial touchpoints and make convenient financial options available closer to where customers actually need them.

Partnership enters a new phase of growth

The 2027–2029 agreement marks a new stage in the relationship between Cake and DMX, moving beyond individual products and services toward cooperation on a greater scale and with greater depth.

Over the next three years, the two companies will continue developing existing products, broaden access to financial services through DMX’s store network and digital platforms, and explore new solutions tailored to customers’ real-world needs.

The target of billions of US dollars in total disbursements between 2027 and 2029 reflects the growing scale of the partnership and provides a foundation for Cake and DMX to develop additional services and financial touchpoints for customers.

Nguyen Huu Quang, CEO of Cake, said: “For Cake, the value of our partnership with DMX lies not only in business scale, but also in our ability to expand practical financial touchpoints in customers’ daily lives.”

“The new phase of cooperation provides a foundation for Cake and DMX to develop solutions on a larger scale, from shopping and lending to international money transfers, bringing financial services to the right place and at the right time when customers’ needs arise,” he added.

Truong Hong Hoang, Business Development Director of Services at DMX, said: “DMX’s direction is to gradually evolve from a retail system into an ecosystem of services built around customers’ needs and life cycles. Consumer finance and utility services are among the important growth pillars for the coming period.”

“Expanding our partnership with Cake allows us to combine DMX’s strengths in its network, touchpoints and customer ecosystem with Cake’s technology and digital finance capabilities, bringing financial solutions closer to customers, at the right time, for the right needs and in a more convenient way,” he said.

DiverseMore touchpoints, more financial options

In recent years, the retail model has been shifting beyond the traditional focus on buying and selling products toward providing a broader range of services built around customers’ needs and life cycles. As part of its 2026–2030 development strategy, DMX has identified “Consumer Finance & Utility Services” as one of its growth pillars alongside its core retail operations.

Against this backdrop, the Cake-DMX partnership is also expanding across a wider range of financial touchpoints. The two companies currently offer MWG PayLater, cash loans at DMX stores, cash loans through the Qua Tang VIP app and international money transfer services at DMX stores.

While MWG PayLater gives customers greater flexibility in managing spending when making purchases, cash loan products broaden access to funds for other everyday needs. International money transfers add another practical financial service available directly through DMX’s store network.

From their initial cooperation on individual products, Cake and DMX are moving toward a more comprehensive partnership, integrating a wider range of financial services into different touchpoints throughout the customer journey.

Making finance part of the retail experience

The expansion of financial services at DMX comes amid a broader shift in retail toward building ecosystems around customers. Instead of focusing solely on products at the point of purchase, retailers are increasingly incorporating payment, financial, after-sales and utility services to meet multiple needs within the same customer journey.

For Cake and DMX, combining Cake’s digital banking capabilities, technology and financial product development expertise with DMX’s 3,000-store retail network and customer ecosystem creates opportunities to deliver financial services across both physical stores and digital platforms.

“The important point of this cooperation is that customers do not necessarily have to begin an entirely new journey to access financial services. These options are brought closer to where their needs arise, whether in stores or on digital platforms,” Nguyen Huu Quang said. “This is also how Cake expands its services through partner ecosystems, enabling digital banking technology to serve customers on an increasingly larger scale.”