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 properties of the Zalopay payment method are shown in the following table:
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 | ❌ |
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 payment process:
Figure 1. Payment process (app/WAP)
- Checkout on the merchant app or WAP page.
- Redirect to the Zalopay or Zalo app to see the transaction details.
- Optionally change the source of funds for payment.
- Authorize the transaction with your fingerprint or passcode.
- Get the payment result.
- Automatically redirect to the merchant app or WAP page.
