Mirae Asset officially launches Mirae Credit

The application of technology to innovate products and create better customer experiences is emerging as a key tool for competitiveness across industries and consumer finance. Under the influence of the pandemic, shifting consumer taste has become a challenge in product and service innovation for many businesses. Specifically, cash usage habits have noticeably changed as the number of consumers using cashless payments through the NAPAS online payment portal has increased by 125 per cent while the total value of card payments at points of sales (POS) increased by 50 per cent, according to State Bank of Vietnam statistics.

Operating as a “permanent innovator” with a “customer first” approach, Mirae Asset Finance Company (MAFC) is a pioneer of technology to deliver the best customer experience in the market, from utilising its application programming interface (API) to launch the first Alternative Distribution Channel model through the cooperation with FRT (FPT Retail) in 2019 and the 100 per cent online lending solution through FPTshop.com.vn in 2021.

Capitalising on the popularity of QR codes in Vietnam, it has launched Mirae Credit, a touchless disbursement solution that allows MAFC customers to use at more than 16,000 MAFC affiliate partners such as FPTshop, Mobile World, and other partners through Buy Now Pay Later.

Individual customers who are eligible to use the product can own the product within 24 hours through a few steps on the My Finance app. Partners who provide products and services and would like to participate in the Mirae Credit eco-system can easily download the SMART MERCHANT app to register.

The Mirae Credit product is expected to create a competitive advantage for MAFC. Compared to regular credit cards, it provides a more flexible and secure experience for customers with touchless disbursement via a personal QR Code issued to each customer. Creating and developing Mirae Credit product is the first stop for MAFC to officially enter the credit card industry in 2022 through a new and innovative virtual credit card utilising QR code. It is promised to be a special and convenient card for users that provides them with access to diverse financial solutions.