ZaloPay is a mobile payment app that allows users to transfer money, pay bills, and make purchases online and in-store. It was founded in 2016 by VNG, a Vietnamese technology company. ZaloPay is one of the most popular mobile payment apps in Vietnam with over 10 million active users (AU).
Now for the first time, folks would be able to buy and sell digital assets using ZaloPay, thanks to TransFi.
It offers a variety of features and benefits including:
- Free money transfers between ZaloPay users.
- Bill payments such as utility bills, credit card bills, and phone bills.
- Uses a secure system to protect user data and user funds and balances.
- Wide range of in-store payments at merchants that accept ZaloPay.
- Online payments for goods and services on websites and apps
- Top-up for mobile data plans.
- Donations to charities.
To use ZaloPay, users need to create an account and add money to their wallet. Money can be added to the wallet through a variety of methods, including bank transfer, credit card, and debit card. Once money is in the wallet, it can be used to make payments for goods and services. Also its upto the user to decide the amount of funds to their Zalo pay wallet, and hence it also does not entirely expose their bank account or card which is a good security measure.
For these reasons, TransFi has integrated Zalo pay to its on ramp and off ramp crypto service to target that segment of the market who is comfortable buy crypto paying in Vietnamese Dong directly from their wallet.