INVESTOR RELATIONS
Tiếng Việt
Tiếng Việt
Ho Chi Minh City, June 30, 2025 — Digital bank Cake by VPBank (Cake) and Thế Giới Di Động have officially launched a strategic partnership to roll out MWG PayLater, the first branded Buy Now, Pay Later service by MWG.
Under this collaboration, MWG PayLater leverages the full capabilities of Cake’s Buy Now, Pay Later infrastructure to serve MWG’s customers with the following features:
- Instant online credit approval up to 40 million VND within 2 minutes.
- 0% interest installment plans up to 12 months for products supported by MWG and Cake.
- Flexible repayment options: pay in full using available credit or enjoy 0 VND upfront and interest-free installment plans up to 90 days — the longest interest-free period currently on the market.
- Seamless integration of eKYC, OTP verification, and facial recognition (facematching) for maximum convenience.
The service offers customers a smooth and convenient experience from registration and credit approval to usage and repayment, all directly accessible on MWG’s Quà Tặng VIP app.
Mr. Nguyễn Hữu Quang, CEO of Cake, stated: "We are proud to partner with MWG to create a practical, accessible, and flexible financial solution for consumers. With our proven ability to customize experiences and scale financial services, we believe MWG PayLater will become a go-to payment method for Vietnamese shoppers."
MWG PayLater is currently available across all MWG retail chains including Thế Giới Di Động, Điện Máy Xanh, TopZone, and AVAKids. In the next phase (expected in July 2025), the service will expand to all MWG offline and online channels (website and app), including An Khang Pharmacy and other ecosystem subsidiaries.
Offering consumers the flexibility to purchase without upfront payment and choose between full or installment payments up to 24 months, MWG PayLater delivers a convenient, safe, and transparent financial solution.
Mr. Trương Hồng Hoàng, Thế Giới Di Động’s Service Business Director, added: “Today marks another important milestone as we introduce MWG PayLater — a tech-driven financial solution tailored for our customers. With Cake’s strong financial backing, advanced technology, and operational agility, we believe MWG PayLater will become a preferred option for consumers. This initiative reaffirms our commitment to continuously enhancing the value and utility of services we offer our customers.”
MWG PayLater targets mass-market customers seeking quick access to consumer finance, especially when purchasing phones, electronics, home appliances, or children's products.
In its first year, MWG PayLater aims to reach hundreds of thousands of users, contributing to MWG’s revenue growth and strengthening customer loyalty.
This strategic partnership builds on the earlier success of the fast online loan product co-developed by Thế Giới Di Động and Cake in October 2024. That initiative quickly gained traction, expanding Thế Giới Di Động’s financial customer base and showcasing Cake’s flexible tech capabilities and operational reliability. These achievements have laid the groundwork for deeper collaboration, now marked by the launch of MWG PayLater.
