THE CREDIT-NEWS

Multidimensional Perspectives on Business Information in Vietnam

APPOTA: 88% of e-commerce payments are cash-on-delivery

Sunday, July 15, 2018 4:17:28 PM

Vietnam has a significant amount of young and middle-class consumer, along with high digital media consumption, as well as mobile gaming habit. Any enterprises who wish to tap into Vietnam should develop mobile-friendly websites, videos, pictures, apps, etc.

Mobile E-Commerce is reaching the highest growth, and more people start to look for a product through their phone, then ending up the purchase on a computer. According to Vietnam Mobile App Report _ First half of 2018 prepared by Appota, 72% of all e-commerce site visits are through smartphones, 53% of online purchases made by phone. The mobile ecommerce conversion rate is 1.4 while the computer one is 3.6
 

< Vietnam Mobile App Report _ First half of 2018_APPOTA - Compiled by VietnamCredit>

88% of e-commerce payments are cash-on-delivery. Vietnam is a deep-rooted cash society with a majority of transaction is made with cash. While mobile fin-tech ecosystem is still under development in the early stage, the foremost challenge is to educate the consumer to use e-banking, as well as gaining trust from the consumer. E payment was estimated at US $ 6.4 billion in 2017, with CAGR of 22%. 46% say they don’t want to use mobile payment because they don’t have a bank account, and concerns about losing banking information.

It is essential for websites to be mo- bile-friendly. Besides, the consumers are afraid of getting scammed, so they prefer cash-on-delivery than any other purchase methods. Therefore, a better online consumer protection legislation is neces- sary to encourage consumers to use e-banking when shopping online.

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