Fintech in Vietnam, huge opportunities and grand challenges

Analytics all over the world has claimed that Vietnam is a promising market for fintech, e-commerce companies.
Opportunities

Vietnam - a country of more than 90 million people, is a dynamic nation with many chances for foreign investors. According to a study which performed by di-onlinesurvey.com, over 40 million Vietnamese are shopping online, which means a half of nation's population are using Internet for shopping, mostly clothes.

In 2016, 55% of Vietnamese adults owned a smartphone compared with 44% has a laptop. This increasing smartphone using penetration is crucial, because it enables access to such services such as VTC Pay, Momo and others a chance to develop. These e-wallets may have a opportunities to widen their market or improve capabilities.

In expectation, the population of Vietnam in 2020 will reach nearly 100 million, which the middle class will be around 33-44 million, raised from 12 million in 2012. This sector of people is the main customer of these e-wallet owners. Emerging, developing, offering services will be the main goal for these companies.

With the connections between countries are being stronger and stronger, any transactions oversea has became easier than before. A credit card, a smartphone are two things you need to buy any goods all over the world: clothes, furnitures, even cars, anything you desired. 

But, there are problems, and these problem are tough.

Challenges

E-markerted.com conducted a survey which pointed out that 85% of payment in Vietnam are cash on delivery. The reason is customer want to make sure the quality of goods before pay for it, this a a sign of low level trust in e-commerce.
Furthermore, lax intellectual property protection enforcement is a big problem, this, some how prevent companies from having a good reputation, authencity and quality of their products. There are so many risks when their goods can be copied.
Additionally, there can be a high cost, in money and effort,  to let customers know about the new modern of business and its opportunities. Because people prefer traditional market to e-commerce, to change their habit takes a lot, a lot of time

To summarize, fintech in Vietnam is in the beginning of its era. Opportunities and challenges are exist, but Vietnam is a great place for foreign investment.