HO CHI MINH CITY, Vietnam, July 5, 2023 /PRNewswire/ — As this partnership marks the first time that a leading cinema partners with a leading Buy Now Pay later (BNPL) in Vietnam, movie fans can enjoy paying later for cinema tickets only at LOTTE Cinema.
Based on this partnership, Fundiin offers zero-cost pay-later payment options, either in 30 days or 3 monthly installments, for customers of LOTTE Cinema – one of the largest cinema chains in Vietnam, with more than 40 cinema cineplexes nationwide.
The strategic handshake bringing the first BNPL to the cinema market affirms Fundiin as the BNPL market leader in Vietnam.
By providing a BNPL payment method, Fundiin offers outstanding solutions for partners to boost sales effectively. Particularly, Fundiin’s BNPL helps merchant partners increase conversion rate and especially average order value (AOV), 2 times higher compared to AOV of e-wallet methods.
To consumers, BNPL is a strong tool to help them manage budgets effectively. As a result, Fundiin has observed a strong transition to BNPL from other pay-now methods. Particularly, Fundiin has earned a higher growth rate in payment value than traditional pay-now methods by 44% points in the first 5 months of 2023.
“With the mission of providing financial freedom, we are proud to partner with Lotte Cinema and take one step further in bringing value to young consumers in managing their budgets easier and more efficiently.” – Nguyen Anh Cuong, CEO of Fundiin said.
“The collaboration with Fundiin has created an opportunity for LOTTE Cinema to accomplish our mission, which is provide the true and lively cinema entertainment and bring it closer to the public, establishing a strong connection between LOTTE Cinema and our customers. This allows us to not only deliver high-quality cinematic experiences but also introduce a new spending habit in the digital technology era.” said Ms. Le Thi Tham – General Manager of LOTTE Cinema.
Founded in 2019, Fundiin is a pioneer and leading startup in the Vietnam BNPL market with around 500 direct merchant partners, including Paula’s Choice, Murad, TheFaceShop, Sulwhasoo, Reebok, Vans, Unilever, ChoTot by Carousell, etc. For the time being, Fundiin’s investment funds are Trihill Capital, ThinkZone Ventures, Genesia Ventures, 1982 Ventures, Jafco Asia, Zone Startups Ventures, etc.