THE SMARTER WAY TO CHOOSE YOUR FINANCIAL SOLUTION: 0% INSTALLMENT VS. BNPL

In recent years, two popular payment methods in Vietnam 0% installment plans and Buy Now – Pay Later (BNPL) have become increasingly familiar to consumers. Although both allow buyers to “take the product home without paying in full upfront”, the two models are fundamentally different in terms of eligibility, fee structures, and overall user experience. Across the Vietnamese market, especially among factory workers and blue-collar employees, a common question often arises: “Should I use a 0% installment plan or BNPL? Which one is easier, safer, and more suitable for my financial ability?” This article explains the key differences in a clear and practical way and highlights why MOVI, Vietnam’s leading BNPL solution for workers, has become the optimal choice.

1. What is a 0% Installment Plan?

A 0% installment plan allows consumers to purchase goods using a credit card and repay in monthly installments (3-24 months) at a 0% interest rate.

However, to access this program, customers are almost always required to own a credit card.

In practice, 0% installment plans typically come with conditions such as:

- Must own a credit card (with good credit scores and stable income).

- Possible fees including conversion fees, management fees, or loan insurance.

- Late payments incur high penalty interest according to credit card terms.

- Registration depends on the bank and merchant, sometimes complicated.

Note: In some partnered programs, buyers may be required to make a 10%-30% upfront payment even under “0% installment” schemes.

As a result, 0% installment plans are more suitable for financially stable users who have used credit cards for years. For factory workers and blue-collar groups who typically do not own credit cards this method can be difficult to access.

2. What is Buy Now – Pay Later (BNPL)?

BNPL allows consumers to purchase items immediately and repay gradually over short-term cycles (30 days, 45 days, or 3–6 months).

The greatest advantages of BNPL:

- No credit card required

- Minimal documentation

- Fast approval

BNPL is particularly suitable for workers earning stable monthly incomes but unable to access traditional banking products.

The model is rapidly growing in Vietnam thanks to its convenience, transparency, and adaptability across different income segments.

3. BNPL Increases Convenience: Especially with MOVI’s Worker-Focused Model

Unlike general BNPL providers, MOVI has built a tailored model for millions of workers in industrial zones those who need essential purchases but cannot access credit cards.

MOVI operates based on three core principles:

3.1 Easy access, simple requirements

Users can receive a spending limit within minutes using only: Citizen ID (CCCD) + Employee Code within partner ecosystems.

3.2 Fast approval with full transparency

All repayment details are displayed clearly in the app, reducing the risk of unexpected charges.

3.3 Serve essential everyday needs

MOVI focuses on product categories that truly matter to workers:

mobile phones, home appliances, healthcare, essential goods, transportation, insurance, and more all priced reasonably for monthly incomes.

This makes MOVI’s BNPL not just a financial tool but a practical welfare solution, easing workers’ financial pressure.

4. Key Differences Between 0% Installment and BNPL

4.1 Eligibility

- 0% installment requires a credit card.

- BNPL requires only basic information.

- With CCCD + employee code, MOVI’s BNPL is perfectly suited for workers within partner factories who do not own credit cards.

4.2 Approval speed & user experience

- 0% installment depends on banks converting transactions often slower.

- BNPL, especially MOVI, offers much faster approvals.

- MOVI emphasizes simplicity: fast registration, clear tenure selection, and easy payment via e-wallets or bank transfer.

4.3 Costs and hidden fees

- 0% installment is not always truly “0%” due to conversion fees, annual credit card fees, etc.

- BNPL fees are transparent and typically lower.

- MOVI also provides promotional support across various product categories to reduce workers’ financial burden.

4.4 Tenure flexibility

- 0% installment programs usually last 6-24 months.

- BNPL focuses on 3-6 months, matching monthly income cycles of workers.

- Shorter repayment periods help users avoid long-term debt accumulation.

4.5 Financial safety

- 0% installment plans are designed for customers who are already familiar with using credit cards, helping reduce the risk of bad debt caused by missed payments.

- BNPL, especially when managed through an app like MOVI, allows users to track their repayment progress, receive automatic reminders, and control their spending all without financial pressure.

5. Why BNPL Is Becoming a Major Trend in Vietnam

First: It fits the majority of workers

• Vietnam has over 10 million factory workers.
• Their spending follows a 30-day income cycle, making BNPL far more practical than long-term installment plans.
• MOVI leverages data from large partner ecosystems (PouYuen, PouChen, ChangShin, major industrial clusters…) to offer safe, accurate, and easily approved limits.

Second: Transparent and easy to use

Workers are often unfamiliar with complicated banking procedures.

MOVI simplifies every step:

- Register at factory booths or via the app

- Quick approval based on employee data

- No extensive paperwork

- No bank card required

- This simplicity is a major competitive advantage.

Third: Helps workers improve their daily lives immediately

BNPL provides real, practical value:

- Buy new phones for communication or work

- Purchase home appliances when moving rooms

- Cover unexpected healthcare needs

- Support transportation and monthly essential services

Workers no longer need months of savings to access quality goods without overwhelming upfront financial pressure.

Conclusion

0% installment plans are suitable for those with credit cards and prefer long-term repayment cycles.

BNPL particularly MOVI’s worker-centric model is the superior choice for the vast majority of Vietnamese laborers because it offers:

- No credit card requirement

- Clear and transparent costs

- Fast approval

- Tenures aligned with monthly income

-  A simple, user-friendly and humane experience

In today’s digital consumer era, BNPL is becoming a defining financial trend and MOVI is pioneering this movement, enabling Vietnamese workers to access a safer, easier, and more sustainable way to manage everyday spending.