ZaloPay
Founded by VNG in 2016, ZaloPay is one of the leading digital wallets in Vietnam. It offers mobile payment solutions for users to shop online, pay bills, make donations, and transfer money easily. With 70% of Vietnamese being unbanked and only 4% possessing a credit card, allowing customers to pay with digital wallets is crucial for the growth of online businesses in the Vietnamese market.
ZaloPay has close to 15 million users, and targets primarily young adults (20 to 35 years old) who have a high demand for mobile payments and transfers.
Properties
The following table lists the product properties supported by ZaloPay:
Payment type | Wallet | ||
Acquirer | AlipaySG | Merchant entity location | SG, AU, HK |
Payment flow | Redirect | Refund | ✔️ |
Buyer country/region | Vietnam | Partial refund | ✔️ |
Processing currency | VND | Chargeback/Dispute | ❌ |
Minimum payment amount | 1000 VND | Refund period | 180 days |
Maximum payment amount | 50,000,000 VND; 100,000,000 VND per month | Time to return the payment result | Real-time |
User experience
The following figure shows the ZaloPay authorization process:
Figure 1. Authorization process (app/WAP)
- Choose ZaloPay to bind on the merchant app or WAP page.
- Redirect to the ZaloPay or Zalo app to see the binding details with the available fund sources (balance, saving account, linked bank account).
- Authorize the transaction with your fingerprint or passcode.
- Get the binding result.
- Automatically redirect to the merchant app or WAP page.
