FiinGroup Releases The Publication On "Vietnam Alternative Lending Market 2024"

FiinGroup proudly presents our latest publication: “Vietnam Alternative Financing Market 2024”. This issue explores the dynamic expansion of Vietnam’s alternative finance sector, driven by digital transformation and evolving consumer behaviors. As traditional financial institutions maintain their core role, alternative lenders are accelerating growth through innovation, convenience, and tech-driven models. 

Below are the key findings: 

• Pawnshop chains embrace modernization with the emerge of “new-gen pawnshops” 

Vietnam's pawnshop sector continues to thrive with nearly 25,000 traditional outlets nationwide. However, a modern shift is underway - 1,267 tech-enabled or “new gen” pawnshops emerged by end-2024. Market leaders like F88 are scaling rapidly, leveraging technology and diversified financial offerings to transform this long-standing service. 

• Payday lending platforms surge, led by foreign fintech players 

Over 50 payday lending apps are now active, focusing on small, short-term loans for underserved borrowers. Many are backed by foreign companies (mainly from China and Taiwan), offering seamless mobile borrowing experiences. While growth is strong, risks remain due to unregulated lending behavior and limited borrower transparency. 

• Buy Now, Pay Later (BNPL) gains ground in E-Commerce & Retail

The BNPL model has scaled quickly, from just 4 players in 2020 to 15 active platforms by 2024. Strongly integrated with digital retail and fintech ecosystems, BNPL is increasingly favored by young, tech-savvy consumers seeking flexible payment options without credit cards. 

• Peer-to-Peer Lending finds Its niche, amid regulatory changes 

Vietnam’s P2P lending market is gradually consolidating around key players such as Tima and DCV Finance. Platforms are expanding beyond consumer lending into SME financing. Growth has been constrained by regulatory ambiguity and low investor confidence. However, with the recent approval of the Decree on the Fintech Regulatory Sandbox, in which P2P lending is officially piloted, the segment is poised for a new phase of growth and institutional recognition.  

➡️ For the full sector outlook, kindly access HERE. 

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