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Smart strategy of Hello Clever

The two-year-old fintech platform Hello Clever, which uses central bank technology, is among the 50 fastest-growing fintech businesses in Australia.



The platform is built on PayTo technology, the real-time payment method of the Central Bank of Australia. This is a government scheme to curb fraudulent online transactions in the country.

Smart consumption

Basically, payment transactions will be made from the bank accounts of the seller and the buyer through the PayTo platform, making the money transfer faster and more accurate. It is backed by all Australian banking systems.

But the problem is that Australian banks and PayTo are the foundation. They need practical applications in daily transactions to attract users to participate. The founders of Hello Clever recognized the potential of this form of attracting customers to return, which is cashback.

“Basically, stores have annual marketing expenses to keep customers. Then why not refund them directly when purchasing goods that meet certain program requirements, because that is the most practical benefit,” Quynh said.

The operation of Hello Clever is very simple. When customers use Hello Clever to pay for online purchases, they will receive an instant refund without having to wait 60 days like with ShopBack or Market.

However, that is not the greatest strength of Hello Clever. The 2% fee per transaction, which has also been the company’s main source of revenue up until now, was the factor that created the boom. This fee is quite low compared to the average of 4–6% (like Afterpay, Australia’s largest post-paid pre-purchase application) today.

“The simplest example is us as a payment platform that integrates customer retention functions for online business stores with the most competitive fees,” said Nguyen Hieu Trieu Vy, the person in charge of infrastructure. Hello Clever’s technique, further explained

So within 2 years, Hello Clever will have more than 40,000 users, 1,000 stores, and more than 100 banks accepting the company’s payment method. Some 4.5 million is the amount that Hello Clever has raised from venture funds to date.

The perfect pair

Tran Thi Thuy Quynh graduated from the University of Technology Sydney, majoring in finance and commercial accounting. She is also the one who started the journey of Hello Clever.

In 2015, during a class meeting with high school classmate Nguyen Binh Khiem (Vinh Long), she met Vy again. Quynh is no stranger to Vy’s academic achievements and abilities, so the two started collaborating on small projects from there. By 2020, the two had decided to start a business together.

That was also the time when the Central Bank of Australia developed PayTo and called for the parties involved. Quynh worked in Australia, so she was in charge of understanding relevant laws and technical requirements and conducting meetings with stakeholders. investors to raise capital.

Due to COVID-19, travel is limited, mostly to online meetings, but this is also a positive because more investors can be met. Quynh recalls that she met more than 100 investors, from individuals to funds, to complete funding rounds.

“There were a lot of investors who refused because the size of the company at that time was small and we were young, so they thought it was not suitable for the financial industry because we had no experience,” Quynh recalled.

The selection of customers for online shopping is calculated in advance because this is a group of customers that can be approached and served on a large scale with human resources of no more than 50 people. On the other hand, this is also the fastest-growing segment in the period 2023–2027.

According to Statista, the value of the digital payments market in Australia was $107.9 billion in 2023 and is expected to reach $188 billion by 2027, with a CAGR of 14.89%. In which the largest market is e-commerce payment, with 66 billion USD in 2023 and expected to reach 100 billion USD in 2027.

Hello Clever’s biggest advantage is being able to deploy services at a competitive cost of technology because the R&D team is located in Vietnam, which has a lot of experience thanks to the booming fintech model in the country from 2017 to the present.

If Quynh takes care of foreign affairs, Vy plays the role of Hello Clever’s logistics. Having worked at large technology companies, Vy understands that the biggest role of technology is to create value for society with moderate human resources.

The common point of both is very “bloody”. When the Central Bank of Australia announced the PayTo platform, while the parties were debating its capabilities, Hello Clever joined first.

The weakness of Quynh and Vy is that they do not have much experience in the fintech field, but that is also the strength of Hello Clever when approaching the market with many new perspectives and not being bound by the costs created by the models. old finance. “That’s how we created the current fee,” Vy said.

But Hello Clever’s path is not exactly smooth because PayTo is a common technology platform. There are at least 4 companies in Australia at the moment that are participating in Hello Clever. In a world where technology is a long race, the advantage of being first does not reduce future risk.

Quynh said that with a model like sharing the infrastructure of the Central Bank like Hello Clever, in order to create a solid advantage, it must develop horizontally, i.e., expand more services suitable for business operations and convenient to retain users.

In Australia, Hello Clever will launch new features such as smart investment and smart reward point accumulation. In addition, the company will expand, etc. into markets with payment infrastructure supported by the Central Bank, such as Australia, Singapore, Indonesia… “It will take capital to develop, but we will not expand at all costs,” Quynh said.



Accelerating digital transformation in businesses

Digital transformation has brought about great changes in market share, spurred strong growth, and created new trends in the production and business of enterprises in many countries around the world, including Vietnam.



Digital transformation has opened opportunities for businesses to participate more deeply in global supply chains and value chains, contributing to improving competitiveness, helping them connect closer to customers, and restructuring businesses.

However, to help digital transformation in businesses be more effective and successful, it is crucial to have a new way of thinking and new capabilities in the operation towards combining people and machines on the basis of digital technologies and digital data. 

Changing mindsets and perceptions

The Government’s National Digital Transformation Programme to 2025, with orientation until 2030, has set out the goals of developing a digital government to improve operational efficiency and effectiveness; developing a digital economy to improve the competitiveness of the economy; and developing digital infrastructure to narrow the digital gap. In particular, digital transformation is the main means and an appropriate, pioneering, and revolutionary policy.

The actual implementation in some enterprises and localities shows that the digital transformation process has been only considered as non-professional work, in addition to the political and economic goals being carried out. The awareness and selection of technology, ecosystem, people, and financial capacity have not been synchronized nor given due attention in some instances and in some places. This mindset is currently a barrier and a challenge that makes the transformation difficult to reach success. 

Recalling the intention to apply digital transformation in her business 5-7 years ago, General Director of Hong Duc Education Equipment Joint Stock Company Vu Thi Ngoc Anh said when starting to apply digital transformation, many employees and even managers of the company have not kept up with new technology, so they objected strongly because they thought it was complicated and they were afraid to do it all over again. In addition, some individuals have not been clearly aware of the benefits of digital transformation in businesses, so they have refused to do.

Due to the lack of experience, some units have applied many software and technologies at the same time, causing a lack of linkage and synchronousness in data and systems and leading to many errors. The challenges mentioned above have caused the digital transformation process at the companies to fall into a “stalemate” because they do not know where to start and how to do it right. Therefore, digital transformation is a big problem for the whole business. 

To solve that problem, business leaders need to take action with a digital mindset. Then the digitization and innovation from the normal system to the digital system will be taken into account, in which digitized results converted to building a management reporting system linked to the database. Finally, the businesses should make a full transformation. Currently, most Vietnamese enterprises have failed in digital transformation or confused data digitization with digital transformation, due to financial problems and a lack of technology knowledge among business leaders.

Human resources – the decisive factor

According to a recent survey by the Vietnam Confederation of Trade and Industry (VCCI), 23.8% of surveyed businesses knew about digital transformation but they lack financial and human resources for the implementation and 90% of surveyed businesses announced their digital transformation has not been successful.

Only 11% of businesses succeeded in digital transformation, the remaining 89% were “lost” in the digital transformation process with four main reasons, including misperception and benefits of digital transformation unconnected with businesses’ goals, and a lack of necessary resources or favorable digital ecosystem. In addition, most small and micro enterprises believe that digital transformation is the “playground” of big businesses. 

VCCI Vice President Bui Trung Nghia assessed that, along with the rapid development of technology, the application of digital initiatives and digital technology solutions will help businesses add socio-economic values towards sustainable development. However, it has been said that the digital transformation process in Vietnam is facing many barriers due to the uneven business quality foundation, relatively low management level, inadequate digital technology supply, etc. Therefore, digital transformation requires drastic and innovative thinking and actions from management agencies as well as from businesses, organizations, and local authorities. Digital transformation is not only the investment in technology, but also transformation in terms of management, approach, and human resources.

According to the annual report on digital transformation in enterprises in 2022, up to 48.8% of businesses have undergone digital transformation but no longer continue because the solution is not suitable or is no longer appropriate in the current context of the businesses. There are many reasons leading to the above situation, but, according to experts, the first is due to the incorrect perception and thinking of business leaders about digital transformation. Many businesses have just used digital technology solutions for a short time, but because they found it ineffective or had to spend a lot of money on initial technology investment, they stopped deploying it.

According to calculations, the actual cost of technology in digital transformation in enterprises only accounts for about 20% of the total cost of digital transformation. The purchase of application software for business is not difficult, but the problem is to exploit its value. Thinking and understanding digital transformation is a decisive factor for the success of the digital transformation process in businesses. Therefore, business owners must master their internal problems and the implementation method should be based on the capacity and reality of each business to find and apply suitable, correct, and sufficient technology for enterprises.

After having a clear implementation process, businesses can work with partners on digital transformation, then they will also understand the problems of the businesses to come up with a plan for implementation in an appropriate and effective manner.

Source: Nhân Dân


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No subsidy for rich electric car buyers: finance ministry

Vietnam’s Ministry of Finance has said a firm no to a Transport Ministry proposal that $1,000 be given in aid for each electric vehicle (EV) purchase.



The state budget is prioritized to serve poor people and people in remote areas, while EV buyers are mostly wealthy people, the finance ministry explained.

As the budget is limited and the country has other priorities like infrastructure development, social welfare and hunger and poverty elimination, the transport ministry’s suggestion is not suitable at the moment, the finance ministry added.

In a draft policy on facilitating the nation’s transition to EVs and stopping the use of fossil fuels, the transport ministry suggested lower taxes and fees as well as aid of $1,000 for each EV purchase.

The finance ministry also rejected the proposal that preferential tax policies are issued for EV imports, saying such a policy would negatively impact the domestic auto industry, add pressure on the country’s traffic infrastructure and reduce the state budget’s revenues.

On preferential tax policies for manufacturing and assembly of EVs and EV batteries, the ministry said such products were already subject to low taxes under some schemes. Therefore, the effectiveness of such policies has to be studied more carefully.

On charger components, the ministry repeated that preferential import tax policies were already in place. It urged the transport ministry to work with other ministries on adding more locations to install charging stations.

Vietnam’s emergence as a major electric vehicle (EV) market in Southeast Asia has been reflected in the rush of new models being introduced by leading automakers looking to tap rising demand as the nation proceeds towards its 2050 zero emissions target.

Source: The Investor


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Vinfast, Be Group, Digital Bank Cake by VPBank team up to support Be drivers switching to electric vehicles

Vinfast, an EV arm of Vietnam’s largest private conglomerate Vingroup, ride-hailing app Be Group, and Cake by VPBank digital bank have agreed to support Be drivers switching to electric vehicles.



Be, the on-demand multi-service consumer platform has formally signed a collaboration agreement with VinFast and the Cake by VPBank digital bank to encourage beBike drivers to migrate from fuel to electric motorcycles. The collaboration is part of an effort to further the green transformation trend. 

As a result of this cooperation, thousands of Be drivers will directly benefit from VinFast’s support policies as well as have the opportunity to access optimal financial solutions from Cake by VPBank.

According to the first phase of the collaboration agreement, VinFast will assist Be drivers in moving from gasoline motorcycles to VinFast Feliz S electric motorcycles by granting a 4% discount on the quoted price for each motorcycle. Furthermore, Be drivers will benefit from all other VinFast stimulation programs in accordance with the company’s general strategy.

Cake by VPBank Digital Bank offers Be drivers cutting-edge digital financing options to buy VinFast Feliz S at 0% interest. For instance, the loan application and approval process can be completed online in minutes without visiting a bank.

“The cooperation agreement of VinFast – Be Group – Cake by VPBank gives Be drivers the opportunity to own and use smart, modern, environmentally friendly electric motorbikes with optimal costs, simple and convenient procedures. This cooperation will give customers access to safe and refined transportation alternatives, contributing directly to the Government’s net-zero carbon emission target by 2050,” said Ms. Ho Thanh Huong, CEO of VinFast Vietnam. 

Thanks to the expertise and capabilities of the multi-service consumer platform Be, Be Group is confident in striving for higher targets in popularizing the culture of “green vehicles”. 

Ms. Vu Hoang Yen – CEO of Be Group shared: “After the initial phase of collaboration, working with the GSM partner yielded a lot of positive signals and outcomes. In particular, the total number of electric taxi trips has seen steady growth. It now represents 6% of all car-trips in Be (compared to an average 2 – 5 per cent EV trip contribution of other ride-hailing platforms). Be hopes and expects to promote the plan to achieve the greater objective of popularizing the practice of utilizing green cars for Be drivers and encouraging the growth of green transportation across the country. Be will keep introducing products and services that are more suited to the demands of Vietnamese consumers in the future.”

Observations about the newly signed cooperation agreement, Mr. Nguyen Huu Quang – CEO of Cake by VPBank, stated: “The program brings fast, creative credit financing solutions, with the highest benefits for drivers. In particular, the trio-party cooperation between Cake – Be – VinFast will open up a development strategy in all aspects between Vietnam’s leading financial, technology, and manufacturing enterprises to promote comprehensive digital services, popularize electric vehicles, and foster environmental protection. In the near future, Cake will keep working with VinFast to research the best financing options  for customers  looking to acquire electric automobiles.”


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