Vietnam’s VP Bank, Lotte team up to offer buy now pay later services

They will also issue co-branded cards in Vietnam.

The Vietnam Prosperity Joint Stock Commercial Bank (VPBank) has signed a memorandum of understanding (MOU) with LOTTE C&F Vietnam to issue cards and buy now pay later products.

VPBank and LOTTE C&F Vietnam will issue co-branded cards, as well as create buy now pay later products for Lotte customers.

The two companies also shared plans to offer account services, virtual credit cards and digital functions based on Lotte’s digital platform.

VPBank said that it will also provide comprehensive finance solutions that foster sustainable resources with the aim of helping enterprises in Lotte Ecosystem in Vietnam fullfill their strategy objectives. 

LOTTE C&F, meanwhile, will assist in promoting VPBank’s finance products to its subsidiaries in Vietnam.