On 27th September, Vietnam Prosperity Joint Stock Commercial Bank (VPBank) and LOTTE C&F Vietnam Co., Ltd held a ceremony for signing the MOU. This is an important milestone, opening a new prospect to help both parties optimise their resources, promoting sustainable growth and simultaneously bringing flexible, economical and effective consuming finance solutions to LOTTE customers.
The MOU is to collaborate on developing innovative financial products aimed at improving customer experiences and enhancing the value offered to LOTTE’s loyal clientele. This partnership will specifically introduce co-branded cards and “Buy Now, Pay Later” (BNPL) products tailored for Lotte customers, providing them with enhanced purchasing capabilities and financial flexibility.
The collaboration will also focus on delivering specialised financial solutions that leverage both organisations’ technological platforms and ecosystems. By integrating features such as account services, virtual credit cards, and other digital functionalities within LOTTE C&F’s digital framework, the partnership aims to offer customers a modern, transparent, and convenient payment experience.
The signing of this cooperation agreement lays the groundwork for both companies to maximise their strengths, thereby enhancing their competitive positions in the market. VPBank will provide comprehensive financial solutions to support the sustainable growth of enterprises within the Lotte Ecosystem in Vietnam. In turn, LOTTE C&F will promote VPBank’s financial services to its subsidiaries in Vietnam, facilitating the bank’s expansion and increasing its market reach among foreign direct investment (FDI) clients.
At the signing ceremony, Kamijo Hiroki, Deputy CEO of VPBank, stated, “As a multifunctional bank recognised for our innovative capabilities and commitment to creating value through comprehensive financial solutions, we believe this partnership will deliver exceptional financial products and services to Lotte customers. The MOU with LOTTE C&F aligns with our strategy to enhance our engagement with FDI clients and collaboratively implement our business objectives, thereby generating synergies that yield greater value for both enterprises and customers.”
Shigemitsu Satoshi and Shin Yoo-yeol, CEOs of LOTTE Financial Corporation Japan, also spoke at the event, emphasising their commitment to developing deferred payment solutions that benefit LOTTE Corporation’s subsidiaries and contribute positively to Vietnamese society.
“We aim to establish a business ecosystem that fosters cooperation with various sales partners. As we expand our ecosystem, we are reaching out to companies in Vietnam, Japan, and Korea, in addition to LOTTE Corporation’s subsidiaries. By partnering with VPBank, known for its expertise in personal finance and digital services, we are confident that we have found the right ally to achieve these objectives,” they noted.
