A hire/purchase payment method long popular in the US, Singapore, Indonesia is now gaining traction in Viet Nam, according to Philippe Lenain, general director of the Societte Generale Viet Finance Company.
A hire/purchase payment method long popular in the US, Singapore, Indonesia is now gaining traction in Viet Nam, according to Philippe Lenain, general director of the Societte Generale Viet Finance Company.
Most Vietnamese customers pay cash for air conditioners, fridges and household electric appliances at electronics centres, but many are now opting to use the hire-payment method.
The demand for such payment has increased, according to market research by the Goverment’s General Statistics Office.
The demand is especially acute in the motorbike and mobile phones market, according to two online websites for hire/purchase products: www.tragop.com and ww.muabantragop.com.
Nguyen Hoang Dieu, a resident in District 3, said she bought an
She first paid a total of VND11 million (US$687) and the remaining under a hire – purchase plan of 24 months.
The Dong Nai Big C supermarket offers a six-month, nine-month, 12-month and 18-month plan for purchases worth VND3 million ($187) to VND15 million ($937).
Big C is working with East Asia Bank to offer this kind of payment method.
Experts said the payment method was attracting both high – and low-income earners.
(Source: VNS)
