E-wallet ZaloPay first to allow securities investments

DNSE Securities and ZaloPay signed a cooperation agreement Monday to launch the first securities investment service on e-wallets in Vietnam.

The "Securities Account" feature added to the ZaloPay platform by DNSE Securities will allow stock investments by “newbies” starting with just one share.

Investors can directly register and trade in securities via DNSE's Entrade X account on the ZaloPay e-wallet without having to switch platforms, the companies said.

To open the "Securities Account", investors only need to perform three simple steps: open ZaloPay e-wallet or access ZaloPay in Zalo; click on the "Securities Account" icon on the main screen; confirm information and sign a contract to open account.

The feature will allow investors to look up information on stock codes and start trading from just one share.

After successful registration, investors will be randomly given one share from the VN30 basket (index of top 30 stocks traded on the Ho Chi Minh Stock Exchange, or HoSE) as part of a promotion offer that will run from July 20 to August 31, 2023. The promotion will have a total prize value of VND1 billion ($42,300).

The cooperation between ZaloPay and DNSE is expected to make securities investment simple and accessible. Even those who are just starting to learn about financial investment and securities have the opportunity to learn and experience this playground without the pressure of initial capital.

The first "Securities Account" product on an e-wallet also marks a pioneering step taken by them towards developing diversified, intelligent and convenient financial and securities services and products for users.

"Finance is a very necessary skill for every individual, but so far in Vietnam, financial management and investment is still a distant concept for a large part of the population. DNSE has always cherished a desire to change that, opening up investment in securities to a large number of people," Pham Thi Thanh Hoa, general director of DNSE Securities, said at the signing ceremony.

"We believe that with DNSE's experience in the stock market and ZaloPay's quality user network as well as the technological advantages of both sides, the "Securities Account" product will help realize our common vision," she added.

Le Lan Chi, general director of ZaloPay, said: "Security is a potential field that is attracting great attention from users, especially young customers. Recognizing this demand, ZaloPay wishes to become the leading e-wallet in popularizing securities investment."

"The common goal of ZaloPay and DNSE is to bring advanced financial products and services to customers and support them in investing and managing their finances in a smart and efficient way starting with a small amount of capital," she added.

DNSE Securities, established in 2007, has achieved rapid growth in recent years with many pioneering products in the field of digital securities including: the e-KYC account opening service that digitizes 100% of the operation; the AI Broker virtual broker; the 24/7 deposit and withdrawal facility: and the pioneering system of administration and lending according to each transaction (Margin Deal).

ZaloPay is currently the leading electronic wallet and online payment system in Vietnam with the advantage of integrating with the Zalo messaging application. ZaloPay recorded more than 11.5 million regular payment users in 2022. It has a wide network with tens of thousands of partners and payment points across the country and has enjoyed the fastest user growth among e-wallets over the last three years.