We recently covered 10 online payment platforms in Southeast Asia and I figured I’d follow up with a closer look at Vietnam’s landscape. In Vietnam’s space, there are plenty of competitors, but they’ve been limited by banks that are not ready nor supportive, telcos that are still archaic, and a consumer base that has still not adopted credit cards. Nevertheless, this hasn’t stopped several startups from finding all sorts of ways to monetize content and websites.
以下是越南支付空间的 18 个主要玩家。这个名单从传统的在线支付平台，到另一些把数字内容货币化的非常规的支付平台。
Below are 18 of the players in the payment space in Vietnam. The list covers traditional online payment platforms, along with some players which, while not exactly “payment platforms,” support monetary transactions in some form or another.
You’ll see the first list of more traditional online payment platforms, and then you’ll see that I listed some players who are not exactly payment platforms, but do support making transactions to consumers in certain niches. This is no doubt the result of the landscape that I’ve summarized above.
这是个庞大的名单。所以我可以提前剧透一下这里面最大的几家：SmartLink, NganLuong, Mobivi, OnePay, BaoKim, 123Pay。但是在这个非常复杂的生态图景中，谁会是最后的赢家，只能让时间来证明。
It’s a big list, so I’ll tell you right now, some of the most significant players include SmartLink, NganLuong, Mobivi, OnePay, BaoKim, and 123Pay. But time will tell who will be the real winner in this very complex landscape.
If you think there are any players that I missed, don’t hesitate to contact us or comment below and we will add them right away.
Mobivi 由一个拥有数百万美元资产的越南裔美国人始创。是越南在线支付平台当中最响亮的名字之一。据坊间传言通过该平台运送的现金流达到 3000 万美元。该平台长期试验不同的支付模型，比如为非营利组织免费进行移动捐献，还有通过手机直接读取在线的信用卡账单。除了这些试验之外，该平台是否聚焦了成为一个主要玩家所需的一切要素，还不明朗。
Founded by a Vietnamese-American multi-millionaire, Mobivi is one of the biggest names in the Vietnamese payment space, though mainly because of how much money it is carrying, rumored to be over $30 million. Mobivi has long been experimenting with various payment models such as free mobile transactions for non-profit donations, and is now working on online credit card benefits packages for large scale companies. It also allows users to top up their mobile phones straight from their online credit dashboard. Despite its experimentation, it is still not clear yet if Mobivi has generated the traction it needs to be a major player.
2、NganLuong (来自 PeaceSoft)
该平台已经从事了移动和在线支付业务很长一段时间。该公司是从其母公司 PeaceSoft 的 Ebay.vn 和 Chodientu.vn 等一大群企业当中脱颖而出的。一家区域性的支付公司 MOL 占有该公司 50% 的股权，这笔交易在今年早些时候完成。他们的服务受到多重因素的保护，不仅是一个电子钱包，而且是 Paypal 类型的支付平台。
NganLuong has been in the business of mobile and online payments for a long time. It leverages off of its own portfolio of companies at PeaceSoft, which includes Ebay.vn and Chodientu.vn. MOL, a regional player in payment, took a 50 percent stake in NganLuong earlier this year. The service is multi-faceted, as it’s not only an e-wallet but also a transaction platform like PayPal.
其母公司为越南电商ChoDienTu.vn, NganLuong目前已成为越南主要的在线支付平台，拥有超过10，000家电商商户和500，000个激活账户，占据27%的市场份额。NganLuong可以支持越南90%的银行账户和银行卡，电子钱包；支持刮刮卡(Vinaphone, MobiFone, Viettel, Gate)；支持Visa，Mastercard、JCB、mol、paypal等渠道。
Its parent company is ChoDienTu.vn, a Vietnamese e-commerce company. NganLuong has become Vietnam's main online payment platform, with more than 10,000 home appliance merchants and 500,000 activation accounts, accounting for 27% of the market. NganLuong can support 90% of bank accounts and bank cards in Vietnam, e-wallets; support scratch cards (Vinaphone, MobiFone, Viettel, Gate); support Visa, Mastercard, JCB, mol, paypal and other channels.
Payment characteristics: 1. Real-time arrival; 2. No chargeback; 3. Support online and offline payment
在越南居住的绝大多数人可能没有听过这家公司，主要是因为其尚未获得重大的发展。去年该公司就迈出了重要一步。他们尝试将临时信用卡推向市场。这些信用卡可以用 20 美元到 100 美元的价值买到。遗憾的是这个虚拟信用卡服务没有获得预期的营收，最终关闭了。在那以后，该公司尝试像 Square 一样，在任何智能手机上进行移动支付的平台搭建。目前为止这同样没有获得明显的营收。主要是因为进入该服务的门槛非常高，想要让习惯现金的商户们转而接受信用卡不是很容易。
Most people in Vietnam probably haven’t heard of this company, mainly because it hasn’t caught its big break yet. Last year Rev Vietnam made a bold move when it attempted to push temporary credit cards into the market. These cards could be bought for $20 to $100 and used like a normal credit card online. Unfortunately, the service didn’t gain any traction and was shuttered. Since then Rev Vietnam has focused on creating a Square-like dongle that hooks into any smartphone. This also has not gained traction, likely due to the significant barriers to entry – it’s difficult to convince merchants who already prefer cash to accept credit cards.
OnePay is the official representative for MasterCard for Vietnam and provides a host of services including bill payment, online transactions, ATM, internet banking, and SMS banking. It’s also backed by Vietcombank, which gives it an even more significant advantage – Vietcombank is Vietnam’s leading bank, after all.
请不要把这家移动支付领域的新创业公司跟我们上面介绍的 OnePay 相混淆。先不要管这个糟糕的品牌，该公司是在上一家公司之后进入同一个市场的。因为它在移动领域的基础建设比较薄弱，同时也有后进入市场的更强大的竞争者，它的竞争力并不被人看好。尽管如此，他在最近的东盟创业公司展示 DEMO ASEAN 中依然获得了二等奖。
Not to be confused with OnePay, this new startup specializes in mobile payment. Aside from the horrible branding, it came to the market after OnePay, and it is not considered to be a company that has very much potential in Vietnam due to the lack of infrastructure in the mobile space and the existence of more evolved competitors. That said, it did win the second prize at the recent DEMO ASEAN.
像其竞争者一样，SmartLink 是一系列支付服务的集合，包括自动柜员机，收银机，支付网关，电子商务支付，以及在此之上遍及全城的支付网络。最近它与另一家公司 Mobivi 签署了合约，允许人们利用近场支付技术刷卡购买货物，购买过程通过它们的支付网络进行。
SmartLink, like its competitors, also has a suite of services for payment. This includes ATM, POS, payment gateways, e-commerce payment offerings, and on top of all that, it has payment kiosks throughout the city. Recently, SmartLink inked a deal with Mobivi to allow people to top up their cards and pay for goods via its kiosks.
7、SohaPay (来自 VCCorp)
这家公司由越南最大的在线媒体集团 VC Corp 所支持。该集团像 VNG, Vat Gia, PeaceSoft 一样，旗下运行的系列服务品牌包括 Mua Chung, En Bạc, Dan Tri, Mua re, Rong Bay 等。因此它同样可以提升其内容，让用户使用支付平台。这是一个能够接收所有主流自动柜员机和越南的信用卡的电子钱包。
Started by one of Vietnam’s biggest online media companies, VC Corp. Vc Corp, like VNG, Vat Gia, and PeaceSoft, have a host of services including Mua Chung, En Bạc, Dan Tri, Mua re, Rong Bay, and more. Therefore, it can also leverage its content to get users to use its payment platform. It’s an e-wallet that accepts all the main ATM and credit card methods in Vietnam.
8、BaoKim (来自 Vat Gia)
BaoKim 与上面所介绍过的类似。包括一个电子钱包，和类似 PayPal 的信用卡支付平台。因为其隶属于越南一家最大的电商网站 Vat Gia，其用户基础是毋庸置疑的。
BaoKim’s services are similar to those of NganLuong, including an e-wallet and PayPal-like credit card transactions. Since it’s under Vat Gia, one of Vietnam’s biggest e-commerce sites, it is able to leverage a huge userbase.
9、MoMo (来自 Vinaphone)
这个服务是由越南一家最大的电信公司 Vinaphone 所支持。它允许该电信公司的客户通过这个服务支付账单和其他的金融业务。用户使用服务的同一个项目，可以绑定该电话公司的一系列短信业务，同时激活此服务。这也会在用户的手机卡中自动创建一个电子钱包。
MoMo is a service created by Vinaphone, one of Vietnam’s biggest telcos. The service allows Vinaphone customers to pay for their bills and access financial services right from their mobile phone. Users can sign up for the services with a series of SMS’s to the Vinaphone system, which will then activate the service. This will then create an e-wallet on top of the customer’s SIM account.
Payoo 是一个小一点的初创公司，并不如他的对手那般功能全面。目前他们只上线了一项功能 PayBill，允许用户在其平台上支付账单，目前为止这家公司没有获得特别明显的注意。
Payoo is a smaller startup, and not as far along as its competitors. It only released PayBill, which is a service to allow consumers to pay for their bills on top of the Payoo platform. So far, Payoo has not gained significant traction.
VinaPay 从三家主要的创业投资机构当中获得了融资——Net-1（美国）、IDG 资本（美国）、MK 集团（越南）。这家公司提供预付费的分发服务，允许用户在为其手机和游戏内容进行支付。公司始创于 2007 年，不过运行至今尚未迎来比较大的增长。
VinaPay, which got an investment from three main bodies including: Net-1 Technology Corporation (USA), IDG Ventures (USA), and MK Group (Vietnam). The company is a prepaid distribution that allows users to pay for mobile and gaming content. The company was established in 2007, and since that time hasn’t really taken off yet.
12、123Pay (来自 VNG)
科技大鳄 VNG 的作品，该市场的最新玩家。对于零售商户来说，使用他们的服务相对也比较便宜。其母公司 VNG，最近谣传可能要关闭他们的电商平台 123.vn 和 123mua.vn。但从最近的举动上来看，很有可能会将两家主要电子商务平台的用户导入这个支付业务。该公司也是越南领先的游戏公司，正向其社交游戏竞争对手 Zing 和 Zalo 一样，这些游戏的用户也将会有很大机会使用该支付业务。
A new player into the market from tech juggernaut VNG. It’s also one of the cheaper options for retailers. VNG, which recently was rumored about to shutter its e-commerce platform, 123mua.vn, has since bounced back. Obviously, it is able to leverage its two e-commerce platforms including 123.vn and 123mua.vn to get users on 123Pay. VNG is also the leading game company in Vietnam as well as social media company with Zing and Zalo. This allows VNG to leverage on its database to get users on its payment platform.
该公司也是越南领先的游戏公司，正向其社交游戏竞争对手 Zing 和 Zalo 一样，这些游戏的用户也将会有很大机会使用该支付业务。类似SmartLink，也是各种付款方式的集成平台，支持国际信用卡以及当地银行卡，可提供电话充值、电视节目付费、日常生活缴费等服务。
The company is also a leading game company in Vietnam, and like its social gaming competitors Zing and Zalo, users of these games will also have a great opportunity to use the payment service. Similar to SmartLink, it is also an integrated platform for various payment methods, supporting international credit cards and local bank cards, providing services such as phone recharge, TV program payment, and daily payment.
这家公司的原注册地在泰国。因地制宜地采用了让用户在线订购，去本地的 7-11 零售店取货的方式，获得了泰国市场的支配地位，马上就进入了越南市场。当用户在 7-11 便利店付款之后，该便利店将会通知这家电子商务网站，他们会及时将物品送到用户手中。创始人 Aung Kyaw Moe 描述说，这种消费者和商户的服务模式，是在当本地市场接受信用卡大范围到来之前的一种过渡形态。
This startup, which dominates Thailand with a payment platform that gets users to book an item online and then go to the local 7/11 to pay, is soon entering the Vietnamese market. After a user pays at 7/11, the 7/11 will ping the e-commerce site and they will then ship their items to the users. The founder, Aung Kyaw Moe, has stated that the 2C2P model is a transitionary model until the local market becomes more credit card friendly.
Vietpay 始创于 2006 年，允许人们通过手机付款。这家公司可能让你想起肯尼亚的另一家公司 mPesa，问题不仅是在于其传输费用，而且还包括植入问题。同样该公司没有引起该领域的广泛关注。他们与电信运营商 Mobifone 的合作可能是其秘密武器之一；不过从 2006 年这个合作就已经启动了。
Vietpay was started in 2006 and allows people to pay via SIM. This may remind you of mPesa in Kenya, but the problem is not only the transaction fee but also the implementation. As yet, Vietpay has not made significant traction in the space. To its credit, it is working with Mobifone, and that may be its secret sauce. But it’s been working at this since 2006.
公司网址/company webstite:http://m0.vietpay.vn/index.vp15、Viettel, Mobifone, Vinaphone 等越南电信运营商
越南的电信运营商都是经过越南政府授权的不同分支运行的。这导致越南移动设备的覆盖率非常广泛，定价很便宜，但同时也让越南移动通信的发展比较滞后。截至目前，移动交易是允许的，但是电信运营商从每笔电子交易当中会抽成 30-50%，无论如何，这并没有阻止一些公司的崛起。比如在线教育公司 Deltaviet。他们 90% 的销售都是通过短信达成的。如果越南电信巨头节省他们的手续费用，这个市场将很快爆发性增长。这项措施也对于列在这里的所有创业公司造成了重创。很不幸的是，上层管理机构目前尚没有放开手续费的意愿。
Vietnam’s telcos are all run by various branches of the Vietnamese government. This has been the main cause for Vietnam’s coverage and pricing of mobile services to be so widespread and cheap but also has lead to Vietnamese mobile services being held back. Currently, mobile transactions are allowed, but the telcos take anywhere from 30 to 50 percent of each mobile transaction. But this has not stopped companies like Deltaviet, an online education company, from getting over 90 percent of its transactions via SMS transaction. If the Vietnamese telcos lowered their cut, the market would explode. It would also cut deeply into all the startups listed here. Unfortunately, this has not been implemented by upper management yet.
有些人可能会批评我把 GiaoHangNhanh 加进这个名单，无论如何，这是一家给电商的物流公司。但不仅如此，这是越南人现金支付文化的一个延伸。通过运送和收集全国范围内的支付，允许从小到大的越南电商网站获得支付信息。这个集物流与付款在一起的渠道，是名副其实的市场参与者。不同于 2c2p 通过便利店来扩展他们的业务，该公司选用的是摩托车。
Some may criticize the addition of GiaoHangNhanh here. After all, it is a logistics company for e-commerce. Not only that, it’s an extension of Vietnam’s cash-on-delivery culture. Nevertheless, by delivering and collecting payment from e-commerce customers across the country and enabling small and large e-commerce sites in Vietnam to collect payment, this is clearly a real player. Instead of leveraging 7/11’s (a business that has not yet entered Vietnam) like 2C2P, GiaoHangNhanh leverages motorbikes.
Zship 是 GiaoHangNhanh 在电商领域的主要竞争对手，主要专注于食品运送。它也因为定价比对方低一点点而广为人知。这同样是一个在运输过程当中达成结算的在线商务平台。
Zship is one of GiaoHangNhanh’s key competitors in the e-commerece and especially food delivery space. It’s also known to be just a little cheaper. Again, this is about cash-on-delivery enabling online commerce.
在 VNG 发布了 123Pay 和 Zalo 两项服务之前。公司已经十分有钱，而且因其在中国金山（应该是腾讯或网易？）学起来的一个想法而广为人知。该公司在全国范围内销售用涂层覆盖密码的充值卡。这些卡片可以用来充值在线游戏。这是 VNG 公司自己建立起来的系统，不仅可以屏蔽电信运营商的手续费，同样也将用户们锁定在了他们的应用或游戏内付款的环节中。这种游戏卡美中不足是只能用在该公司自己的游戏和应用生态系统中。
Long before VNG released 123Pay and Zalo, VNG got rich and famous off of an idea that it learned from Kingsoft in China. It sold scratchcards to internet shops across the country. These scratchcards were then used to pay for online purchases of games. This is a system that VNG built itself to not only avoid the transaction fees from telcos but also to lock users into their game environments. Today, the scratchcards are still in play, allowing users to buy online in-app or in-game purchases. The scratchcard system though, is not used outside of the VNG ecosystem of games and apps.
就像你看到的一样，在越南的在线支付平台扩展范围非常广泛。从非常小众的在配送过程当中付款的物流模型，到包罗万象涵盖整个支付流程的全功能公司。尽管这些公司当中很多都想到了独特的想法来完成支付，他们当中并没有产生在美国如 Paypal 地位的公司。也没有像 Venmo 一样充满希望的小玩家，能够让用户始终在该平台上保持粘性。
As you can see, there’s a wealth of payment platforms in Vietnam spanning from very niche cash-on-delivery logistics models all the way to companies that offer the entire spectrum of services. Although many of these companies have leveraged unique ideas to get payment, there is no clear leader that dominates like PayPal in the USA, and no promising small players like Venmo, which get users to pay in new ways that are sticky.