How to pay remittances online directly to ewallets?

Using ewallets now is a trend and becoming familiar to many people in Vietnam because of their convenience and fast. However, most Vietnamese people regularly use ewallets to pay domestic money and don’t know how they can receive money from their relatives abroad (called remittances).

In this article, FinFan will show you how you can receive remittances directly from your relatives when using the service of FinFan.

Review some ways of remittances commonly used by Vietnamese people.

In the essay about types of remittances in banking and banking less, we discussed many ways to take and receive remittances such as banking, through agency, through friends and dealers and the last one is through cryptocurrencies.

Each type of remittance has its advantages and disadvantages. However, they are still considered to be something that prevents the remittance from going smoothly.

A typical example is when transferring money through a bank, the recipient must have a bank account or go directly to the nearest bank branch to pick up the remittance amount.

Another one is remittances through dealers or friends may take risks for both senders and dealers like the the case that FinFan mentioned in the article Asean cross border payment – what are the difficulties and how can we use modern technologies for doing cross border payments?

How about using a cross border transfer company for remittances?

That’s also a good idea. However, with this solution, senders and receivers will take a huge fee for finishing remittances.

For example, Western Union also charges currency exchange fees. When choosing a remittance organization, carefully compare both remittance fees and exchange rates.

Fees, exchange rates, and taxes may vary by brand, channel, and location depending on many factors. Fees and rates are subject to change without notice.

If you want to cost savings, you can choose the service that FinFan combined with MoneyGram instead.

Faster, safer, and transparent is what should be said about this real-time money transfer service platform. Through a single API payment gateway, every transaction of the customer is processed faster and more efficiently.

Besides, it also helps FinFan-MoneyGram maintain a low cost of transactions as well as improve the customer experience.

MoneyGram is reinforcing its top position in Vietnam's P2P payment and money transfer market thanks to the relationship with national banks and its recent partner FinFan. Based on the information of the World Bank, the amount of remittances to Vietnam is about $16.7 billion.

How to pay remittances online directly to ewallets?

Understanding the above difficulties, FinFan has always made constant efforts to improve its products and services as well as cooperate with major partners to bring customers the best and safest experience.

Prominent among them is the service that we combined with Remitly to provide an online Remittance experience that allows customers to transfer directly from their bank accounts to leading e-wallets in Vietnam such as Zalo, MoMo, VNPay, VNPTPay, etc.

We can transfer money directly to ewallets in Vietnam with 3 steps:

Step 1: Visit Remitly’s website and create an account. After signing up, click on "Send Money", then go to "New Recipient" for creating a new transfer.

Step 2: Select "Mobile Money", and then opt from a variety of e-wallets, including MoMo, VNPay, VNPT Pay, and Zalo Pay. Please be noted that you should choose the one where the Beneficiary already has a registered e-wallet account.

Step 3: Fill out the Beneficiary's details, including Fist name, Middle name, Last name, and the phone number successfully registered as an e-wallet account by the e-wallet provider. Last but not least, to complete the transfer, enter Sender information such as Name, Address, Phone Number, and Card Information.