In the context of rapid digital financial development, Visa has partnered with Fundiin to enhance its credit scoring model in line with international standards. The combination of Fundiin’s data technology and Visa’s extensive global experience in implementing financial solutions is expected to improve the accuracy of credit risk assessment while expanding financial inclusion for consumers.

Fundiin is a Vietnamese technology company specializing in providing the country’s first “Buy Now, Pay Later” solution with no interest. This service is owned by Fundiin Joint Stock Company. Customers can pay for their purchases in three monthly installments, each lasting one month, with a 0% interest rate. This allows consumers to enjoy the best shopping experience even when they are not yet financially ready.

Fundiin – a popular Buy Now, Pay Later solution in Vietnam

Therefore, credit scoring is one of the most critical factors in assessing a customer’s repayment ability. However, for many consumers who either lack a credit history or have only a thin-file record, access to capital remains a significant challenge. Visa’s credit scoring solution, combined with Fundiin’s data technology, can help improve both the accuracy and stability of risk assessments. As a result, credit approval decisions can be made more quickly, increasing approval rates while maintaining a low level of non-performing loans.

According to Mr. Nguyen Anh Cuong, CEO of Fundiin, the collaboration with Visa represents a long-term strategic step to build a solid foundation for deeper partnerships with financial institutions and banks in Vietnam. “We are committed to innovation and the application of technology to deliver safe, transparent, and cost-optimized credit products for consumers,” Mr. Cuong shared.

One of the most important benefits of this collaboration is greater financial inclusion for consumers, especially those without a prior credit history. By applying modern credit scoring technology, the system can accurately assess risks even when historical credit data is missing. This opens up opportunities for consumers to build their own credit profiles, enabling them to access larger financial transactions in the future, such as home loans at lower costs.

Founded in 2019, Fundiin is a pioneer in the Buy Now, Pay Later (BNPL) sector in Vietnam. The company currently partners with more than 800 retail brands, offering consumers convenient payment methods without financial pressure. Fundiin’s most distinctive feature is its decision not to establish a debt collection department from the outset, underscoring its commitment to responsible financial solutions and prioritizing customer experience.

On Visa’s side, the company operates in over 200 countries and territories, providing secure and modern electronic payment technologies. Its partnership with Fundiin is part of a broader strategy to expand financial access and drive the digital economy through advanced payment and credit scoring solutions.

This credit scoring model enhancement not only strengthens risk management for Fundiin and Visa but also creates new opportunities for Vietnam’s digital financial market. As technology continues to evolve, flexible and transparent financial solutions such as those offered by Fundiin and Visa will play an increasingly vital role in advancing financial inclusion, helping consumers access credit more easily and safely.