
How SmartPay Built a Financial Inclusion Wallet from Scratch
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After decades of being mostly ignored by banks and fintechs, Vietnam’s unbanked small merchants and low-wage earners got a helping hand into the digital age from SmartNet, a fast-rising fintech. It partnered with OpenWay, a global leader in payments software solutions, to create SmartPay, Vietnam’s first mobile payment wallet targeted towards the country’s micro and small businesses and unbanked population. In the nine months since launch in May 2019, the SmartPay wallet has picked up 1.7 million individual customers and signed up 193 thousand merchants across the country.
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