Fundiin partners with Pharmacity to launch BNPL at a thousand drugstores in Vietnam

2023-11-13 14:58 2219

Fundiin and Pharmacity have forged the first-ever Buy Now Pay Later (BNPL) partnership in the pharmacy retail sector, with Fundiin being the most popular BNPL provider in Vietnam and Pharmacity emerging as the regional leading drugstore chain.

HO CHI MINH CITY, Vietnam, Nov. 13, 2023 /PRNewswire/ -- Fundiin's presence at Pharmacity - the Vietnamese leading pharmacy retail chain having close to a thousand drugstores will provide holistic consumer protection, addressing both physical and financial well-being by providing interest-free pay later options.

Consumers can choose Fundiin as a payment option when shopping at Pharmacity
Consumers can choose Fundiin as a payment option when shopping at Pharmacity

Pharmacity's introduction of BNPL through Fundiin is poised to propel healthcare spending and enhance its competitive advantage via embracing innovative solutions. For consumers, this flexible payment solution promises unparalleled convenience in accessing healthcare services while mitigating financial worries, enabling them to receive the care they need and pay later.

Fundiin BNPL services have emerged as an advantageous and growing payment method for Vietnamese consumers, especially those who are underserved by traditional banks & financial institutions. It can help to make financial services more accessible to a wider range of people, and boost consumption and economic growth.

This exciting collaboration with Pharmacity solidifies Fundiin as the preferred BNPL partner for various industry leaders across a wide range of sectors, including cinema, mattresses, bicycles, fashion, cosmetics, and travel in Vietnam.

By providing a BNPL payment method, Fundiin becomes a valuable ally for merchant partners in increasing conversion rates, and average order value (AOV), and driving revenue growth of up to 30%.

"Our partnership with Pharmacity aims to enhance healthcare and empower the Vietnamese people with greater health and financial freedom. We believe that our interest-free pay later payment method will provide valuable support to families and patients facing short-term financial difficulties, encourage them to seek medical treatment without hesitation and not to miss out on golden time for treatment," said Mr. Nguyen Anh Cuong, CEO of Fundiin. He further emphasized that retailers and consumers have transitioned to BNPL as a more financially comfortable payment alternative, leading to a remarkable three-fold increase in topline growth for Fundiin.

About Fundiin:

Founded in 2019, Fundiin has rapidly gained market share and become a leading player in the BNPL market in Vietnam and has been identified as the most popular BNPL solution in Vietnam, according to data compiled and released by Merchant Machine.

With over 500 partners, including LOTTE Cinema, Vans, Reebok, Murad, The Face Shop, Cho Tot by Carousell, etc. Fundiin has received investment from prominent Venture Capital funds such as Trihill Capital, ThinkZone Ventures, Genesia Ventures, 1982 Ventures, Jafco Asia, and Zone Startups Ventures.

Source: Fundiin