Fintech companies could hold the key to driving last mile adoption of digital payments and unlocking Southeast Asia’s vast cash displacement opportunity, according to Visa, the world’s leader in digital payments.
The market is on track to hit US$4 billion by 2025, becoming the fourth in the region, after Indonesia, Singapore and Thailand.
Ride-hailing firm Grab is set to invest “several hundred million dollars” in Vietnam where the company sees its next major growth market.
SEA and Grab from Singapore, Woowa Brothers from the Republic of Korea and Go-Jek from Indonesia are fighting for market share.
Vietnamese ride-hailing company FastGo plans to enter the U.S. and Brazil this year as it seeks to quickly expand overseas.
Ride-hailing firm Grab has asserted that it did not breach Vietnam’s competition laws, contesting authorities’ definitions and interpretations.
Vietnamese ride-hailing services are struggling to compete with foreign firms Grab and Go-Viet due to a lack of resources.
Just when the app-based ride-hailing market in HCMC was trying to cool down following the recent significant debut of the giant Go-Jek, locally named Go-Viet, another local firm, Go-ixe, has announced plans to join the ride-hailing race, promising to offer quality services at competitive prices, reported the local media.
Go-Viet's attractive perks for drivers are motivating many to shift from Grab, and the market leader is responding.
Go-Viet’s attractive perks for drivers are motivating many to shift from Grab, and the market leader is responding.
Besides big freight and forwarding companies, numerous startups with technology apps have joined the fast delivery market.
Ride-hailing brand Go-Viet of Indonesian firm Go-Jek will begin operations in 12 districts in HCM City in early August, providing the ride-hailing service Go-Bike and on-demand delivery service Go-Send.
Uber’s recent exit from Vietnam has prompted many local and regional companies to eye a larger slice of the ride-hailing market in the country.
More money has been injected into the e-commerce market, while leading e-commerce firms have expanded.
The race for market share in the Vietnamese ride-hailing sector has just entered a new phase with the arrival of big players like Go-Jek, Aber, and MVL.
Indonesian ride-hailing app Go-Jek will spend US$500 million to expand its operation to Thailand, Vietnam, Singapore and the Philippines in the next few months, it said on May 24.
Indonesian ride-hailing app Go-Jek will officially launch in Vietnam this July, bringing more competition to the market currently dominated by Grab after it had acquired Uber’s Southeast Asia operations in March.
Vietnamese startups in new technology will be a key driver in luring in foreign capital within the next decade, said Maybank Kim Eng Group in March 27's conference in Singapore.
As Go-jek prepares for its debut in Vietnam, VIR’s Nam Phuong recently visited its home city Jakarta and witnessed first-hand the soaring popularity of Indonesia’s biggest startup.
Motorcycle ride-hailing transportation provider Go-Jek from Indonesia has recruited experts to advise for its expansion in Vietnam to break the dominance of Uber and Grab, according to newswire TheLEADER.