Vietnam-based e-wallet ZaloPay , part of the VNG Corporation digital ecosystem, has announced a partnership with Canada-based commerce platform Shopify . Per the information detailed in the cooperation announcement, ZaloPay is the first e-wallet provider in Vietnam to open a payment gateway on Shopify and participate in the platform’s payment system.

ZaloPay – Shopify collaboration details and context The development of the Vietnamese digital economy is believed to bring forth increased potential predominantly due to two important components: logistics and payment infrastructure. What is more, ecommerce is considered an effective component of the digital economy as it presents a high growth rate. The current collaboration between the ‘national’ payment channel ZaloPay and the global ecommerce platform Shopify seeks to promote the ‘Brand.com’ website model in Vietnam to assist businesses with getting started and keeping up with the trends of ecommerce.

Under this model, enterprises are enabled to build and run their own websites, contributing to the expansion of sales channels outside of selling on general ecommerce floors. Shopify provides the essential internet infrastructure for the global commerce industry, together with tools for starting, growing, marketing, and operating a retail business no matter the size. Its commerce ecosystem includes over 40,000 app developers, theme designers, and other partners, suitable and able to address the branding needs of a multitude of industries.

When commenting on the partnership, Le Lan Chi – General Director of ZaloPay advised that with technical resources and an extensive partner network, ZaloPay seeks to bridge the gap between Shopify and Vietnam-based businesses. The spokesperson believes that partnering with Shopify marks an important step for ZaloPay in introducing and replicating the ecommerce website model ‘Brand.com’ within the business community of Vietnam. Concomitantly, ZaloPay seeks to connect with new partners that are active ecommerce brands on the Shopify platform.

Additionally, the company representative believes that becoming the first domestic e-wallet to participate in the payment system for businesses using Shopify showcases ZaloPay’s potential and impact when compared to current payment methods. Bharati Balakrishnan - Shopify's Southeast Asia and India regional director added that an increased number of Vietnamese businesses is realising the benefits of ecommerce in driving growth, and as payments mark an integral part of the online commerce journey, the collaboration with ZaloPay seeks to provide a consumer-friendly experience for merchants. According to the Department of Ecommerce and Digital Economy under the Ministry of Industry and Trade, the number of Vietnam-based businesses owning websites in 2021 accounted for approximately 43%.

What is more, among the 4,000 websites and apps that have confirmed to notify and register with the Ministry of Industry and Trade, up to 44.4% have online sales functions. .