The agreement will open up the development strategy and thorough cooperation in all business areas among these leading financial and technology companies.

Accordingly, Viettel Money's 20 million users will have access to Cake digital banking's exclusive products including Savings Deposits and Consumer Loans with lots of incentives. 

Viettel is Be’s partner in terms of online cashless payment for all services. Through its partnership with Be Group, Viettel Money seeks to broaden its services within the ecosystem, offering customers the greatest delivery, shipping and food delivery services with optimal online payment method via Viettel Money. 

The number of Be platform users linking Viettel Money accounts has increased by 20 times, and throughout the four-month integration period, the number of successful transactions has rocketed by 50 times.

Ms. Vu Hoang Yen, CEO of Be Group said: “Customers of the Be consumer platform and users of Viettel Money have benefited from this partnership's payment experience in terms of convenience, time savings, and the removal of concerns associated with cash payment.”

“Additionally, the cooperation enables customers to directly profit from the two firms' digital ecosystems and alter their habits. Be is presently an on-demand multi-service consumer platform that incorporates the most varied payment options on the market thanks to its partnership with Viettel Money.”

In addition, customers who use the Viettel Money application to deposit money at Cake by VPBank benefit from a competitive interest rate of up to 7.4%, a quick and easy process that takes just two minutes, and total security thanks to online identification technology. Cake's Consumer Loan service on Viettel Money will also bring a quick, easy and reliable financial solution to users with outstanding advantages such as instant loan approval and disbursement process, 0% interest rate and free early payment.

Mr. Nguyen Huu Quang - CEO of Digital Bank Cake by VPBank, said: "The integration of Cake savings and consumer loans on Viettel Money offers a swift, innovative investment and financing solution along with the highest benefits for users.”

“The complete partnership between Viettel, Be, and Cake in particular will pave the way for a development plan and comprehensive cooperation among the top financial and technological businesses in Vietnam."

Cake by VPBank Digital Bank has made significant progress toward strengthening its position after 20 months of operation. It holds two records as the fastest-growing digital bank in Vietnam with more than 2 million customers, and it is the first bank in Asia-Pacific to convert core banking in just 74 days. It has also won prestigious international awards such as "Best New Generation Digital Bank in Vietnam 2022", "Best Growth Digital Bank in Vietnam 2022".

Mr. Le Van Dai, General Director of Viettel Digital Services Corporation, said that the collaboration between Viettel Money, Cake, and Be offers customers optimal financial and technological solutions, contributes to a positive change in argument shifting in the economy with high growth, and makes people more accustomed to using non-cash payment methods.

Be Group JSC, the owner and developer of the on-demand multi service consumer platform “be”, currently provides a wide range of on-demand services including transportation, goods delivery, food delivery, groceries shopping, insurance, telecom services and Cake by VPBank. 

Since its launching in 2019, Be apps has been downloaded over 20 million times, currently servicing over 10 million transactions monthly on the platform and growing. Be currently operates in 28 cities and provinces and is the biggest Vietnamese platform within the on-demand transportation category. 

Cake by VPBank offers a wide range of banking products and services, allowing customers to perform all transactions such as opening a bank account, sending and receiving money, savings, investments, consumer loans, etc., without going to the banking transaction office. Cake harnesses disruptive financial technologies to allow customers to open accounts in as little as two minutes using a mobile phone account, and an electronic customer identification (eKYC) system that helps customers settle contracts with their digital signature. 

PV