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Who says banking services should be left to the banks?
Loans and payment services are no longer delivered by banks alone. Today, non-financial businesses like e-commerce platforms and B2B marketplaces offer financial services that are faster, smarter and more relevant than what traditional providers can deliver.
That’s Embedded Finance (EmFi) in action: the integration of financial services directly into non-financial platforms, like a merchant’s checkout, a mobile app or a business process flow. With EmFi, users can access credit, insurance, payments, and more – seamlessly and in context – without being redirected outside a platform, to a bank or third-party provider.
EmFi in Vietnam
This concept has rocked the financial services market to its core. In a recent EY study, 70% of respondents now believe that most financial services will be offered via non-financial services platforms in the near future.
Financial experts believe EmFi presents a singular opportunity for SMEs and digital merchants to reach Vietnam’s large informal economy. Fintechs’ capabilities are expected to play a central role in addressing Vietnam’s US$20.3 billion credit gap, particularly by applying alternative data and AI to evaluate borrowers who have limited credit histories or collateral.
The pace of growth shows that EmFi adoption in Vietnam is accelerating faster than expected. From a paltry US$511.5 million value in 2024, Vietnam's EmFi sector is projected to expand rapidly at a compounded annual growth rate (CAGR) of 45.1% to reach US$3.28 billion by 2029.
This projected growth will be powered by a large and highly connected Vietnamese populace, with 78.8 % of Vietnamese accessing the internet and 127 million cellular mobile connections active, equivalent to 126% of Vietnam’s population.
Vietnamese FinTechs are already taking a lead in providing local financial services. Locally-grown superapps (like MoMo, ZaloPay and Viettel Money) are busy integrating financial banking services, insurance, and daily life services onto single platforms. Over 70% of FinTech companies in Vietnam have partnered with banks on new projects, leveraging the former’s innovative platforms and the latter’s trust and infrastructure.
Why EmFi matters
EmFi owes its momentum – both in Vietnam and abroad – to a convergence of customer demand and technological progress. Customers now view financial services as a natural extension of the digital ecosystems they engage with, rather than as standalone offerings.
Plus, the evolution of advanced financial Application Programming Interfaces (APIs) has made it possible for everyday digital platforms to offer banking-like services effortlessly within their own ecosystems – including:
- Embedded payments: Digital payment options integrated directly into a non-financial company’s platform. By using EmFi payment tools like digital wallets, customers no longer need to leave a website or app to pay for goods and services.
- Embedded lending: Provides immediate loan or credit options at the point of sale. EmFi lending tools like Bettr Embedded Finance allow providers to offer end-to-end financing directly on their platform – ranging from working capital loans to Buy Now Pay Later to Revenue-Based Financing (RBF).
There are strong business cases for integrating EmFi into your platform; here are three of the most compelling ones:
1. Strengthen partner-platform relationships
Integrating EmFi services reinforces your position as an indispensable business partner, deepening partner loyalty along the way.
By embedding financial tools directly into existing digital journeys, your platforms can offer customers with a more seamless experience. They no longer need to switch between multiple platforms or accounts; customers can complete everything from identity verification to payment and financing within a single ecosystem.
Embedding financial services within your ecosystem also helps build long-term loyalty. When customers and partners can access all the services they need within one platform, they become more connected to it, and less inclined to look elsewhere.
How Bettr BNPL can strengthen partner relationships
A leading B2B marketplace for electronics distributors in Vietnam integrates Bettr Buy Now, Pay Later (BNPL) into its platform. Instead of requiring resellers to secure external financing, buyers can now defer payments directly at checkout.
Research shows that BNPL leads to substantial increases in spending, and this is no exception – the marketplace’s customers start placing larger orders, returning to the platform more often and using it as their primary procurement hub, even against the competition’s slightly lower prices.
The B2B marketplace goes from being just a vendor to a growth enabler, increasing seller loyalty and reducing churn.
2. Create customised services from customer data
Embedded finance allows platforms to turn customer insights into competitive advantage.
An EmFi service can gather data that creates a more holistic view of customers’ purchasing behavior and payment history. Merchants can use this data to design highly personalised and relevant offerings that respond directly to customer needs and behaviours.
EmFi tools might also use GenAI to drive real-time analysis of a variety of factors, deriving tailored, contextual financial propositions from the data. For merchants, this could mean flexible credit terms or financing products aligned with their customers’ specific business cycles – far more appealing than one-size-fits-all industry offers.
In crowded markets, the ability to offer unique, data-driven financial products not only helps businesses stand out but also builds deeper, more loyal relationships with their customers.
How Bettr Working Capital can turn customer data into tailored financial solutions
A Vietnamese logistics SaaS platform serving SME courier companies embeds Bettr Working Capital loans into its dashboard. It uses delivery volume, payment collection rates and seasonal demand patterns to offer tailored loan offers to each client: for instance, short-term funding ahead of Tet spikes.
Unlike banks offering generic loan packages, the platform delivers contextual, needs-based financing: strengthening merchant satisfaction while gathering more granular data for future offers.
3. Generate new opportunities for revenue
Beyond just expanding their service portfolio, EmFi lets non-financial platforms capitalise on the financial value generated within their ecosystem – even if they’re not native financial services providers to begin with.
For starters, they can claim a larger share of value generated by B2C financial services – including percentages of financial transaction fees, or service charges. They might even boost revenues in an indirect way, enjoying the enhanced conversion rates and bigger basket sizes delivered by their EmFi platform.
Over the long term, onboarding EmFi can increase customer lifetime value earned by platforms. With EmFi, platforms unlock higher per-user revenue while holding onto customers longer, all at minimal extra cost.
As they integrate more deeply into core business processes and end-user journeys, EmFi solutions generate a self-reinforcing growth cycle – heightened adoption improves acquisition, and increased revenue can be channelled back into product innovation and expansion.
How Bettr Revenue-Based Financing can create new income opportunities
A Vietnam mobile point-of-sale (mPOS) platform partners with an EmFi provider like Bettr to offer revenue-based financing to its high-performing merchants.
The platform earns a share of the financing revenue from each successful loan while helping merchants access funds to expand inventory. Additionally, merchants who receive financing process more transactions, increasing payment processing volume and overall platform revenue.
What began as a financial add-on becomes a meaningful contributor to the company’s top line and a key growth lever for its clients.
Onboarding Emfi the Bettr Way
Non-financial businesses in Vietnam are increasingly well placed to use EmFi to satisfy what their customers now expect: convenience, speed and a unified experience.
To get started, each organisation should first understand whether it has the capacity to build financial services internally, or whether a partnership model is more suitable. While building your own EmFi product might offer full control over the solution and customer experience, it requires internal expertise, significant capital investment and the responsibility of managing credit risk.
Partnering with a provider like Bettr removes these barriers. Bettr brings the technology foundation, regulatory readiness and applied data intelligence needed to help Vietnamese platform users launch quickly and keep pace as demand grows.
If you’re exploring how to turn your platform into a powerful driver of growth with built-in financial capabilities, Bettr’s AI-powered EmFi solutions can help you move fast, from idea to impact.
