Cake by VPbank, Be, Viettel Money sign cooperation deal

The handshake embarks on the three firms’ development strategy and cooperation in finance and technology.

Accordingly, Viettel Money’s 20 million users will have access to Cake digital banking’s exclusive products including savings deposits and consumer loans with lots of incentives. Viettel continues to be Be’s partner in terms of online cashless payment for all services.

Through its partnership with Be Group, an on-demand multi-service consumer platform, Viettel Money seeks to broaden its services within the ecosystem, offering customers the greatest delivery, shipping and food delivery services with optimal online payment methods via Viettel Money.

Cake’s savings deposits feature on Viettel Money. Photo by Cake

Throughout the four-month integration period, the number of Be platform users linking Viettel Money accounts has increased 20 times, and the number of successful transactions has increased 50 times.

Vu Hoang Yen, CEO of Be Group, shared: “Customers of the Be consumer platform and users of Viettel Money have benefited from this partnership’s payment experience in terms of convenience, time savings, and the removal of concerns associated with cash payment.”

“Additionally, the cooperation enables customers to directly profit from the two firms’ digital ecosystems and alter their habits. Be is presently an on-demand multi-service consumer platform that incorporates the varied payment options on the market thanks to its partnership with Viettel Money,” she added.

In addition, customers who use the Viettel Money application to deposit money at Cake by VPBank benefit from an interest rate of up to 7.4%, a quick and easy process that takes just two minutes, and total security thanks to online identification technology.

Representatives of digital bank Cake by VPBank, consumer platform Be and Viettel Money sign a comprehensive cooperation agreement. Photo by Cake

At the same time, Cake’s consumer loan service on Viettel Money will also bring a quick, easy and reliable financial solution to users with instant loan approval and disbursement process, 0% interest rate and free early payment.

Nguyen Huu Quang, CEO of Digital Bank Cake by VPBank, said: “The integration of Cake savings and consumer loans on Viettel Money offers a swift, innovative investment and financing solution along with the highest benefits for users. The complete partnership between Viettel, Be, and Cake in particular will pave the way for a development plan and comprehensive cooperation among the top financial and technological businesses in Vietnam.”

According to Le Van Dai, general director of Viettel Digital, the collaboration between Viettel Money, Cake, and Be offers customers optimal financial and technological solutions. It also contributes to a positive change in argument shifting in the economy with high growth and makes people more accustomed to using non-cash payment methods.

Cake by VPBank has won many international awards including “Best new generation digital bank in Vietnam 2022,” “Best growth digital bank in Vietnam 2022.”

Be Group JSC, a Vietnamese technology company, is the owner and developer of the on-demand multi service consumer platform Be. The platform currently provides a wide range of on-demand services including transportation, goods delivery, food delivery, groceries shopping, insurance, telecom services and Cake by VPBank.

Cake by VPBank offers banking products and services, allowing customers to perform all transactions such as opening a bank account, sending and receiving money, savings, investments, consumer loans, etc., without going to the banking transaction office.