The biggest advantage of DMX - a tech retail company - lies in its transaction data and frequency of interaction with millions of customers.

The consumer finance segment of Dien May Xanh (DMX) is assessed as a notable growth driver if the enterprise continues to leverage its large-scale retail system and existing customer base. Notably, the demand for financing at DMX is directly tied to shopping activities, particularly for high-value items such as mobile phones, consumer electronics, and home appliances.

In the first 8 months of 2026, DMX's revenue reached approximately VND 87,050 billion, up 29% compared to the same period last year. Of which, installment sales grew by up to 44% and accounted for about 38% of total revenue, with 97% of products being applicable for financing options. This scale demonstrates that deferred payment is no longer merely a sales support tool, but is becoming an important part of DMX's service ecosystem.

In a recent analytical report, Vietcap stated that DMX earns consumer finance commissions from more than 5 consumer finance companies without taking on credit risk. The approval rate reached a high level of 80% in less than 3 minutes. This securities firm expects DMX's consumer finance penetration rate to increase from 35% of retail revenue in 2025 to 50% by 2028.

Most recently, DMX partnered with VietCredit and NAPAS to launch a 3-in-1 domestic credit card. The card is directly integrated into the Qua Tang VIP application of the Mobile World ecosystem, allowing customers to open, manage, and use it immediately on this platform. The cooperation marks the first time a mobile phone and electronics store chain has participated in issuing credit cards in the Vietnamese market.

The credit card issued by DMX and VietCredit features a maximum limit of up to VND 100 million, zero annual fees, and supports payments across all retail chains under Mobile World—such as Dien May Xanh, Thegioididong.com, TopZone, An Khang, AVAKids—as well as domestic credit card acceptance points.

Notably, this partnership took place just 2 days after DMX announced a strategic cooperation with digital bank Cake by VPBank for the 2027–2029 period. In this agreement, the two parties set a target to raise total disbursed revenue to billions of USD, while expanding financial products and touchpoints across the store network and digital platforms.

DMX's two latest partnerships have significantly expanded the financial product portfolio of this electronics store chain. This is also the enterprise's development direction for the 2026–2030 period. According to previously disclosed documents, DMX identified consumer finance and utility services as one of its key growth pillars alongside its core retail business.

In the long term, Vietcap believes that DMX's greatest advantage lies in its transaction data and frequency of interaction with millions of customers. By combining data on shopping history, order value, payment methods, and consumer behavior with its Super App system, the business has a strong foundation to further develop services such as installment loans, consumer credit, payments, and personal finance products.

In particular, DMX's existing wide store network and high transaction volume help significantly reduce customer acquisition costs compared to a pure finance company. As of late August, the chain operated a network of more than 3,000 stores nationwide, alongside digital platforms and an existing customer base.

The potential of this segment lies not only in scaling up lending operations, but also in DMX's ability to transition from a "sales with installment options" model to a personalized consumer finance ecosystem, where each customer can access multiple financial products based on their needs and transaction history. If executed effectively, this could become a new layer of value alongside DMX's traditional retail operations.

Source: CafeF