The document discusses the history and development of an online payment solution in Vietnam. It notes that while an expensive online payment option existed, it was not scalable. The authors chose to build their own more cost effective and scalable solution, though it was very challenging to develop. Over two months, two developers created an initial working version. Continuous improvements have reduced the number of steps needed to complete transactions. The integrated payment solution now supports various local and international payment methods. Integration has been successful so far. The document also provides examples of how payment solutions can become more valuable business assets than the original sites or apps themselves.

2. History
9/2010
7/2010

3. History (Cont.)
Easy Choice BUT…
• Expensive  social cost
• Hidden Cost
• Can’t Scale

4. History (Cont. 2)
Cost effective, scalable BUT…
• Very hard to build (as everyone thought)
• Bank charge, transaction free  who pay?
• Customers “never” use it :)

5. Our (Hard) Choice
• Go with online payment (COD is still
supported reluctantly)
• We need A TOTAL SOLUTION  All
payment methods you can DIY

6. • Credit/Debit/Pre-paid Card: Visa, MasterCard, AmEx, JCB,
Diners Club
• Local ATM cards (from 19 VN banks)*
Support Payment Methods
* need Internet Banking enabled

7. • Phone card from VinaPhone or Mobifone
• Coins:
Vcoin of VTC eBank
Icoin of VNPT
Support Payment Methods - plus…

8. • Pay at ATM Post
• Pay at Bank Counter
(even more to come)
Support Payment Methods – plus, plus…

9. • First working version: developed in 2 months
• 2 developers
Development

10. Continuous Improvement
Minimize number of steps to complete a
transaction:
• International Credit/Debit Cards:
4  2 steps
• Local ATM Cards:
5  3 steps
 Still painful but we will reduce more step(s) shortly

11. Continuous Improvement - Results
Before After

12. Successful Integration

13. Payment & Startups
Fact 1: eBay acquired PayPal in
2002, now PayPal is even better
than eBay core business
Fact 2: Startups need both direct
& indirect monetization methods
 Soha Payment is now open to
outside partners

14. Presented by
Vu Hong Quang
Chef Rep. of HCM Office
Vietnam Communication Corp. (VCCorp)
Contact
Trần Quang Khải
Manager of SohaPay
Vietnam Communications Corporation - VCCorp.
E-mail: khaitranquang@vccorp.vn
Website: http://pay.soha.vn
Contacts