Prices of scrap found on the VECA app are dictated by market prices (Photo: VNA) “VECA is an abbreviation for ve chai (scrap). We wanted the name to be simpleand easy to remember,” Do Thi Minh Trang, the co-founder of the app, told Viet NamNews.
There are two versions of the app: one for sellers, which connects them toscrap collectors, and another for collectors and scrap stores.
The suite of applications provides a payment solution via e-Wallet, whichoffers fast transactions and generates good profits from scrap trading.
The aim is to encourage locals to donate scrap and not throw it away, increasecollectors' incomes, and help protect the environment.
Scrap collectors can use the app to optimise their trade routes and save time.
“Before the app, I used to visit different alleys and streets looking forsellers, so it was very time-consuming. Now with the app I can just travel straightto my order destinations, so it wastes less time. My income has also improvedbecause I get more orders,” Nguyen Thi Anh, a scrap collector in Phu Nhuan district,said.
Collectors can choose a small cart or a motorbike, if the order is small, to carrythe scrap.
No fees are charged. The prices of scrap found on the app are not dictated byVECA, but are market prices.
Some scrap collectors do not trust our model. They think that the app takes apercentage cut like ride-hailing services, but VECA does not do that. Themaintenance cost for the app at this stage does not rely on this service,”Trang said.
VECA will have two development stages. The first will be connecting sellers,buyers and scrap stores. After trading starts to increase, VECA will sell largequantities of scrap to recycling facilities. The profit from that will sustainthe service.
“VECA is run with our personal funds, so currently it is limited. We arecalling for investors," Trang said.
Gaining trust is still the biggest challenge and the app creators have beenworking to show collectors and scrap stores how they can benefit.
VECA has attracted 10 scrap collectors and two stores in Phu Nhuan district after a one-month trial (Photo: VNA) Scrap collectors also tend not to be technologically savvy. Orders thus had tobe written down for them at first and volunteers are there to help them use theapp.
After a month of piloting the app in Phu Nhuan district, the app now has 18,000installations and has attracted 10 scrap collectors and two stores in thedistrict.
VECA aims to expand to different districts in the next six months and cover theentire city by the end of this year.
The app works on both Android and iOS. Feedback on these platforms and directlyfrom collectors has helped the app improve its quality.
“Before this app, when I wanted to sell scrap I had to wait for collectors tohappen to visit my street. Now with just a few clicks, one will come to buyfrom me. The prices are also transparent and reasonable,” said Ly Kien Nghia,who has used the app three times.
VECA is one of 15 startups chosen to join the training camp of the “NINJAAccelerator in HCM City” programme, a startup piloted by the JapanInternational Cooperation Agency (JICA).
JICA representative Lim Boon Bow said: "VECA is contributing to theproduction of products from recycled materials and raising environmentalawareness."
Hanoi and HCM City generate 16,000 tonnes of waste annually. Of the amount,50-70 percent contains compounds that can be recycled and create new energysources, but only 10 percent is recycled, according to the Ministry of NaturalResources and Environment./.
VNA
