Net Protections, Inc. (headquartered in Chiyoda-ku, Tokyo; CEO: Shin Shibata; "Net Protections") is pleased to announce that its subsidiary, Net Protections Vietnam Co., Ltd. ("Net Protections Vietnam"), has begun a partnership with BVBank.
Through this initiative, the Buy Now Pay Later (BNPL) payment service AFTEE will now be available to a broader network of merchants.
Background of the Partnership
Vietnam's e-commerce market reportedly expanded to approximately USD 25 billion in 2025*1, accompanied by a rapid diversification of payment methods. According to research, the usage rate of BNPL services in Vietnam surged from 17% in 2022 to 49% in 2025, jumping nearly threefold in just three years as demand for flexible payment options grew, particularly among young people and women*2.
Previously, Net Protections Vietnam provided its service independently. However, to meet the needs of a wider range of industries and business types, the company has built a new framework in partnership with BVBank.
This partnership with BVBank enables the rollout of AFTEE to a broader range of businesses, including large-scale e-commerce platforms. By leveraging the BNPL expertise Net Protections Vietnam has cultivated, the company aims to address market needs in the digital era, thereby delivering a safe and convenient BNPL experience to younger demographics, consumers without credit cards, and many others.
*1.e-Conomy SEA 2025 (Google, Temasek, Bain & Company)
（URL：https://www.bain.com/insights/e-conomy-sea-2025/）
*2.Vietnam E-commerce 2025 Report (TGM Research)
About AFTEE
AFTEE is a Buy Now Pay Later (BNPL) payment service for Taiwan and Vietnam. Users can seamlessly complete BNPL transactions at checkout using only SMS OTP, with the flexibility to consolidate a month’s purchases into a single payment or select up to 12 installments. This instant accessibility ensures a highly convenient shopping experience. For merchants, it helps increase average order values and acquire new customers by fulfilling demand for BNPL and installment options.
The core strengths of AFTEE are its highly accurate credit screening system and delinquency risk management technology. Leveraging over 20 years of operational expertise from NP Atobarai, a leading BNPL service in Japan, AFTEE launched in Taiwan in 2018 and has already achieved an exceptional approval rate of approximately 96%.
For more information about AFTEE: https://aftee.vn/
About Net Protections, Inc.
Company Name:
Net Protections, Inc. (Net Protections Holdings, Inc. [Code: 7383, the Prime Market of the Tokyo Stock Exchange] Group)
Representative: Shin Shibata, CEO
Website: https://corp.netprotections.com/en/
Business Description: Provision of Buy Now Pay Later (BNPL) services
Founded: January, 2000
Capital:
JPY 100 million
Head Office: Sumitomo Fudosan Kojimachi First Building 5th Floor, 4-2-6 Kojimachi, Chiyoda-ku, Tokyo 102-0083, Japan
About BVBank (Ban Viet Joint Stock Commercial Bank)
Company Name: Ngân hàng Bản Việt (Ban Viet Bank)
Representative: Ly Hoai Van, CEO
Website: https://bvbank.net.vn/
Business Description: Banking and financial services
Founded: 1992
Head Office: 412 Nguyễn Thị Minh Khai, Phường Bàn Cờ, Ho Chi Minh City
Direct any inquiries regarding this release to:
Net Protections PR
Email: pr@netprotections.co.jp
