Founded in 2019, The Global Economics Awards (TGEA) is an annual initiative by the U.K.-based magazine, recognizing organizations and individuals driving innovation, growth, and transformation across industries such as banking, insurance, consumer finance, and technology.
The 2024 theme, “Innovation, Excellence, and Transformation in the Global Market,” celebrates businesses delivering cutting-edge solutions and redefining how industries engage with consumers.
User-focused digital transformation
According to TGEA’s judges, the Home App stood out for its user-centric design, which has transformed how individuals manage their personal finances. The app offers an intuitive interface for users to apply for loans, track and repay them, manage credit cards, use buy-now-pay-later services via Home PayLater, and access budgeting tools. Since its launch in August 2022, the app has garnered 6.6 million downloads.
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Le Phuoc Phuc (R), Head of Online at Home Credit, receives the awards at The Global Economics. Photo courtesy of Home Credit |
With flexible payment options, the app attracts nearly half a million monthly users for tasks like loan repayments, utility bills, phone top-ups, and QR code payments. These features, coupled with promotional offers and a streamlined payment process, contribute significantly to Home Credit Vietnam’s revenue.
The app’s optimized online loan process, which provides approval and disbursement in just three minutes, has further enhanced its appeal by delivering a seamless and fast financial experience.
Le Phuoc Phuc, Head of Online at Home Credit, said: “This recognition as the ‘Best Consumer Finance Mobile App’ affirms our commitment to providing accessible and user-friendly digital financial solutions for all customers.”
Innovating with Home PayLater
Home PayLater’s accolade as the “Most Innovative BNPL Platform” highlights Home Credit Vietnam’s efforts in offering practical, technology-driven financial solutions. The platform enables consumers to make cashless payments and purchases online with no hidden fees, allowing them to pay later on flexible terms.
Home Credit Vietnam was the first BNPL provider in the country to introduce QR code scanning as a payment option, in partnership with VietQR, making the service available at over 700,000 acceptance points nationwide.
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Winardi Wijaya (R), Head of Home PayLater at Home Credit, receiving the award for “Most Innovative BNPL Platform.” Photo courtesy of Home Credit |
The platform uses advanced AI algorithms for real-time creditworthiness assessments and personalized payment plans, a feature that has resonated with consumers seeking fast, hassle-free financing options.
To expand its reach, Home PayLater has partnered with major retailers and e-commerce platforms. On Dec. 13, 2024, Home Credit Vietnam signed a strategic agreement with Mobile World Group, offering a “Buy Now, Use Now, Pay Later” option across its retail network. Earlier partnership with Be Group integrated Home PayLater as a payment option for over 10 million Be app users.
Winardi Wijaya, Head of Home PayLater at Home Credit, said: “Winning the award for the ‘Most Innovative BNPL Platform’ underscores our success in providing an innovative solution that empowers customers to manage their finances and meet their shopping needs.”
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Home App and Home PayLater’s certificates. Photo courtesy of Home Credit |
Home Credit in early 2025 launched a series of incentive programs for customers, offering a 20% discount (maximum VND50,000) on e-bill payments and top-ups via the Home App.
With Home PayLater in January, consumers can enjoy a VND50,000 (US$1.98) discount at supermarkets, convenience stores, restaurants, and beauty shops, or save VND50,000 on their first Home PayLater transaction with VietQR with a minimum transaction of VND150,000 ($5.93). Those who buy electronic products or accessories in Mobile World and Dien May Xanh will get up to VND100,000 ($3.95) off until Feb. 28.
