The ambitious puzzle pieces of Viettel


Despite the heat of the e-commerce fire pan in Vietnam, Viettel Post is still involved with a project called Shells (voso.vn), which is considered to be Viettel’s extended arm online.

Not sharing much about Seashells, the information from the media company to the outside said that this is an e-commerce platform operating under the B2C model (businesses to customers). The only B2C model on the market is Adayroi.com, so it can be considered a direct competitor of Seashells.

Because the website is still in beta, many of the information on the Seashell is still empty and the list of goods is not too prominent compared to competitors in the market. There is also no information from Viettel Post that Shells will have a mobile application.

Therefore, the reaction of enterprises in the market is to wait. Although not much information, but Shells do not have to start from zero, thanks to inheriting the logistics infrastructure of Viettel Post.

Extended arm

In an exchange with the NCĐT, Mr. Nguyen Tran Thi, CEO of GHN, said that there are currently 4 leading e-commerce forwarders in the market: Viettel Post, VNPT, GHN and Savings Delivery. Besides, the director of a company that does not want to be named said Viettel now has a retail unit, Viettel Store, so Seashells are considered an extension of this business online.

In fact, this is not the first time Viettel has excelled, before the launch of the Seashell a week, the group was also surprised to join the competitive market as well as e-commerce as car sharing with applications. MyGo.

Unlike Shells, MyGo takes advantage of the strength of a telecommunications unit like Viettel more clearly by free 3G / 4G capacity for drivers when using the MyGo application. However, so far information about the number of drivers participating in MyGo remains quite secret.

Disposition

Not when not Viettel joined at the same time the two hottest fire pans in Vietnam were e-commerce and car hire without calculation, because the unit owned the ace Mobile Money (electronic money service on mobile subscribers). dynamic).

The Ministry of Information and Communications and the State Bank are promoting this service nationwide. Accordingly, users can use the phone account to transfer money to each other and pay for small e-commerce items without having to have a bank account.

Mr. Pham Tien Dung, Director of Payment Department of the State Bank, said that there are currently 2 units that can be applied immediately, namely Viettel and Vinaphone. Expected payment limit for Mobile Money is 10 million / month (more than 400USD). In other countries, this limit fluctuates around USD 206 / month.

It can be seen that Viettel has the function of calling cars like Grab, Go-Viet, Be or shopping functions like Shopee, Lazada … but none of the above units has Mobile Money feature like Viettel. Compared to the other operator, Vinaphone, Viettel also has a more tech ecosystem.

The door is also wide open for Mobile Money owners when e-wallet activities are still being debated by the Draft Circular amending and supplementing a number of articles of Circular No. 39 regarding intermediary payment services. In it, the draft maintains the regulation that requires all transactions of deposit, withdrawal of e-wallets to be carried out via bank accounts.

More convenient in withdrawing and depositing Mobile Money is the motivation for Viettel’s satellite services to develop. This is the most obvious explanation for participating in two fronts “burning money” in Vietnam in a short time.

Despite its many advantages, success depends greatly on the ability of Viettel to operate satellites. In fact, there is no Vietnamese technology enterprise that operates satellites well in its technology ecosystem today.

Secondly, competitors will not lose market share after years of development investment in Vietnam. Especially when Viettel’s intention is so clear, the battle on both e-commerce fronts and car-hailing applications in the near future is difficult to predict.

Huy Vu
* Source: Investment bridge

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