Shinhan Card is setting up an installment payment system with Mobile World, Vietnam’s largest retail distributor, targeting the country’s expanding consumer electronics market.
The South Korean credit card firm plans to build a purchase financing platform across Mobile World’s network of 5,500 stores. The partnership will offer credit products for both customers and employees of the Vietnamese retailer.
Moon Dong-kwon, Shinhan Card’s president, says the alliance helps advance the company’s Vietnam expansion strategy. The move comes as South Korean financial firms increasingly target Vietnam’s young, urbanizing population.
Mobile World’s electronics division head Doan Van Hieu Em indicates the deal will provide more payment flexibility to shoppers.
The partnership reflects broader economic ties between the two countries, with South Korea ranking among Vietnam’s top foreign investors. For Shinhan Card, Vietnam represents a key growth market as it pushes to diversify revenue beyond its home territory.
Vietnam’s retail sector has attracted foreign firms looking to capitalize on rising disposable incomes and growing consumer demand in the Southeast Asian nation.
