Home Credit, Mobile World aim for $2B in revenues via partnership

Through this agreement, Home Credit will offer specially tailored financial solutions to Mobile World's customers.

This includes providing better interest rates, increased loan budgets, more convenient installment options, and an online financing solution.

In return, Mobile World will prioritize Home Credit as their top long-term strategic partner, maintaining Home Credit's leading market share at Mobile World.

Home Credit and Mobile World's representatives at the signing agreement event on Aug. 16, 2023. Photo courtesy of Home Credit

This cooperation is expected to help more Vietnamese people easily access optimal financial choices to purchase their desired products.

Currently, 70% of customers who purchase on installment at Mobile World are benefiting from a 0% interest rate provided by Home Credit. The entire loan and installment process has been completely digitized and takes only three minutes.

The signing event also coincides with the celebration of the 10-year anniversary of the partnership between Home Credit and Mobile World.

The two have been collaborating since the consumer lending market in Vietnam was still in its early stages. Both parties have worked to develop the market further.

According to Annica Witschard, CEO of Home Credit, the partnership between the two companies has developed significantly.

The synergy of Home Credit's extensive financial expertise and Mobile World's market leadership come together to offer customers a more seamless and remarkable experience. "This collaboration also reflects the strong commitments of both companies to generating values and fostering financial inclusion."

Doan Van Hieu Em, CEO of Mobile World Investment Corporation, said that the company is excited about the prospect of further expanding the partnership with Home Credit.

"It is expected to provide customers with additional, convenient shopping payment options; this is a practical consumption trend. Thank Home Credit for the past 10 years of accompanying us to enhance the shopping experience for our customers," he said.

With a shared orientation towards continued innovation and development, both companies are aiming for a revenue of VND45 trillion (US$1.89 billion) within the next 3 years. See more information about Home Credit here.