Net Protections, a provider of Buy Now Pay Later (BNPL) services, announced on October 21 that its Vietnamese subsidiary has begun collaborating with local BV Bank. This partnership aims to expand the reach of its BNPL service, AFTEE, in response to the growing demand for deferred payment options in Vietnam.
Previously, Net Protections Vietnam operated independently, but to better meet the diverse needs of various industries, it has established a new business structure in collaboration with BV Bank. This will enable the integration of its services with a wide range of businesses, including large e-commerce platforms.
AFTEE allows users to pay for purchases later, offering the option to consolidate one month’s worth of payments into a single transaction or to pay in installments of up to 12 months. The service leverages over 20 years of expertise from Net Protections' NP Deferred Payment service in Japan, utilizing a high-precision credit system and delinquency management technology as its strengths.
Net Protections cited the rapid expansion of Vietnam's e-commerce market and the swift diversification of payment methods as key factors behind this partnership.
According to a study referenced by the company, the usage rate of deferred payment options in Vietnam rose from 17% in 2022 to 49% in 2025. There is a growing demand for flexible payment methods, particularly among younger consumers and women.
The company aims to expand the use of its deferred payment services among demographics that do not possess credit cards, focusing particularly on younger consumers.
* This article has been translated by AI.
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