Lotte Group is expanding its buy now, pay later (BNPL) service, in Vietnam as part of its broader strategy to strengthen its financial market footprint and support retail growth, ChosunBiz has reported→view source.
Key details:
- The service was launched on 11 July in Hanoi, co-developed by Lotte C&F and VPBank.
- It allows app users to make offline payments at Lotte-affiliated stores such as Lotte Mart, Lotteria, and Lotte Cinema.
- Vietnam’s low credit card penetration and government push for cashless payments are driving rapid BNPL growth.
- Vietnam’s BNPL market was valued at US$1.91 billion last year and is projected to reach US$8.82 billion by 2028, according to the Vietnam E-Commerce Association.
Lotte’s move highlights the increasing appeal of Vietnam’s fast-growing digital finance and retail markets, particularly the buy now, pay later (BNPL) segment.
See also: Banking in Vietnam 2025: Account Ownership, Mobile Money & Key Players