ZaloPay, a leading e-wallet company headquartered in Vietnam, has announced a strategic partnership with Shopify, an established Canadian e-commerce platform. This collaboration aims to revolutionize the digital economy in Vietnam by focusing on logistics, payment infrastructure, and the development of a new website model called ‘Brand.com.’
Vietnam’s digital economy has experienced tremendous growth, with e-commerce playing a pivotal role. The success can be attributed to the robust logistics and payment infrastructure. Recognizing the potential, ZaloPay has become the pioneering e-wallet company in Vietnam to offer a payment network on the Shopify platform.
The partnership between ZaloPay and Shopify seeks to establish ‘Brand.com,’ a revolutionary website model for Vietnamese enterprises. This initiative aims to keep businesses in the loop with the latest e-commerce trends, allowing them to create and operate their websites. Moreover, ‘Brand.com’ will provide companies with the opportunity to expand their sales channels beyond traditional e-commerce platforms.
Shopify will contribute its expertise by providing internet infrastructure and tools that assist retail companies with their operations, marketing, and expansion strategies. The company plans to collaborate with approximately 40,000 developers, designers, and other digital professionals to assist businesses of all sizes in enhancing their branding efforts.
Le Lan Chi, General Manager of ZaloPay, expressed optimism about the partnership, stating that their company would leverage its technical solutions to address the challenges faced by the Vietnamese e-commerce industry. ZaloPay also aims to connect with active e-commerce brands registered on Shopify, recognizing the potential to further enhance the payment infrastructure.
Bharati Balakrishnan, Shopify’s Southeast Asia and India Regional Director, acknowledged the growing interest among Vietnamese businesses in joining an e-commerce platform. With the continuous improvement of payment solutions, Balakrishnan believes that the overall experience for both merchants and consumers will be greatly enhanced.
The Department of E-commerce and Digital Economy under Vietnam’s Ministry of Industry and Trade reported that in 2021, 43% of Vietnamese businesses had websites. Furthermore, out of the 4,000 websites and apps that notified and registered with the Ministry, an impressive 44.4% featured online sales functions.
The partnership between ZaloPay and Shopify holds significant potential for the Vietnamese digital economy. By combining their respective strengths, these companies aim to provide Vietnamese enterprises with the necessary tools and infrastructure to thrive in the evolving e-commerce landscape. As the e-commerce industry in Vietnam continues to grow, the collaboration between ZaloPay and Shopify is set to play a crucial role in driving its further expansion and success.