Alipay, China's leading third-party online payment solutionAlipay, China's leading third-party online payment solution

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

Acquiring region

SG, AU, HK

Payment flow

Redirect

Checkout Payment

✔️

Buyer country/region

Vietnam

Auto Debit

✔️

Funds deduction

Real-time

Refund

✔️

Processing currency

VND

Partial refund

✔️

Minimum payment amount

1000 VND

Chargeback/Dispute

Maximum payment amount

50,000,000 VND; 100,000,000 VND per month

Refund period

180 days

User experience

The following figure shows the ZaloPay authorization process:

image.png

Figure 1. Authorization process (app/WAP)

  1. Choose ZaloPay to bind on the merchant app or WAP page.
  2. Redirect to the ZaloPay or Zalo app to see the binding details with the available fund sources (balance, saving account, linked bank account).
  3. Authorize the transaction with your fingerprint or passcode.
  4. Get the binding result.
  5. Automatically redirect to the merchant app or WAP page.