Vietnam Oil Corporation–PVOil–has introduced a gasoline purchasing application that allows users to buy gasoline at nearly 900 PVOIL stations and the Comeco network nationwide and then pay for it later. The financing is provided by Vietnam’s HDBank, Tuoi Tre is reporting.
Of note, the Buy Now, Pay Later–BNPLY–market is projected to grow at a compound annual growth rate of 29.2 percent from 2024 to 2029, according to a report from Markets and Research. The gross merchandise value of buy now pay later in Vietnam is expected to rise from US$1.32 billion in 2023 to US$6.89 billion by 2029.
Over the last decade, various segments in Vietnam’s financial sector, including banking, insurance, bonds, and buy now pay later services, have seen significant growth. The expansion has been driven by increased demand among a growing middle class, enhanced regulatory frameworks, and greater access to technology such as mobile banking and online investment platforms.