LOTTE Finance Launches “PayLater by LOTTE Finance” Service

LOTTE Finance Vietnam Company Limited (LOTTE Finance) on September 29 officially launched a brand new consumer finance service namely PayLater by LOTTE Finance along with its official brand identity.

With PayLater by LOTTE Finance, customers will have another fast, easy & secured payment method when making transactions on E-commerce platforms. The launch of this service is part of LOTTE Finance’s effort to realize the goal of diversifying the services portfolio and comprehensive consumer finance solutions customised to Vietnamese customers, thereby enhancing benefits to the customers.

The brand identity of PayLater by LOTTE Finance service

Specifically, PayLater by LOTTE Finance is a new concept of consumer finance service that allows customers to make transactions on a buy now - pay later basis. Accordingly, LOTTE Finance will grant the customers a credit limit based on the KYC (Know Your Customer). With the granted credit limit, a customer can quickly and easily make payments for goods and services on LOTTE Finance’s partners’ E-commerce platforms even if they have not had the financial capacity to pay the full cost of the products or services they would like to consume.  

Besides, PayLater by LOTTE Finance aims to offer customers the best experience by its short and simple procedure. Accordingly, customers can quickly & easily apply for a credit limit through PayLater by LOTTE Finance just only with their Identity card. Most importantly, customers only need to apply once and can use in up to 03-year period for online shopping on E-commerce platforms without annual as well as SMS fees.

When making a transaction, customers can choose to make full payment with approved credit limit without any interest. Otherwise, customers can choose installment payment method which allows their transaction amount to be divided into several payment periods so as to reduce the financial burden.

As a service provided by LOTTE Finance - A trust-worthy financial company 100% invested by LOTTE Card - PayLater by LOTTE Finance provides customers with a safe and reliable service with a highly secured information technology system and two-layered verification thus peace their mind as making online transactions.

"PayLater by LOTTE Finance offers customers a fast, convenient and fully online payment process which help brings customers about a joyful experience. Our brand new service has been researched and developed with the aim to help customers optimally addressing all their daily financial needs with an advanced and modern consumer finance solution. Particularly, in the cooperation with the first partner - Vntrip, we hope to offer more and more Vietnamese customers an additionally safe, convenient consumer loan services and payment method,” said Mr. Kim Jong Geuk - General Director of LOTTE Finance.

With the aim of offering a range of comprehensive, friendly, and flexible financial solutions to meet the increasingly diverse demands of customers, LOTTE Finance is to continue expanding its network of partners, thereby providing customers with a better shopping experience and more choices when making payments on E-commerce platforms.

Nam Pham (Vietnam Business Forum)