Vietnam Mobile Payments Market Overview

Base Year: 2024

Historical Years: 2019-2024

Forecast Years: 2025-2033

The rapid increase in smartphone penetration and internet accessibility within Vietnam is a key driver for the growth of its Mobile Payments Market. According to the latest report by IMARC Group, Vietnam mobile payments market size reached USD 10.7 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 32.8 Billion by 2033, exhibiting a growth rate (CAGR) of 13.31% during 2025-2033.

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Vietnam Mobile Payments Market Trends and Drivers:

The Vietnam mobile payments market is growing fast. This growth stems from more people using smartphones, government support for digital changes, and a young, tech-savvy population. Now, over 70% of people own smartphones. Mobile wallets like MoMo, ZaloPay, and ViettelPay are gaining popularity. These wallets make paying for bills and groceries easy. The government is encouraging a cashless economy. Programs like the National Digital Transformation Program are speeding up this shift. QR code payments are everywhere, even in rural areas. Both merchants and consumers enjoy this convenience. Fintech firms are partnering with traditional banks to expand services and build trust. Still, challenges like cybersecurity risks and low financial literacy in some areas remain obstacles.

Another key trend is the rise of super apps. These apps combine payments with services like ride-hailing, food delivery, and e-commerce. They offer a one-stop solution for users. Platforms like Grab and ShopeePay lead the market with this model. They provide cashback and discounts to attract more users. Social commerce is growing too, as platforms like Facebook and TikTok add payment features for easy in-app purchases. Cross-border payment collaborations with ASEAN neighbors create new opportunities for businesses and travelers. Despite this growth, cash remains popular, especially among older people. This highlights the need for ongoing education and better infrastructure. The market's potential is clear, with forecasts showing double-digit growth in the coming years. Vietnam is poised to be a hotspot for fintech innovation.

The Vietnam mobile payments market forecast offers insights into future opportunities and challenges, drawing on historical data and predictive modeling.

Vietnam Mobile Payments Industry Segmentation:

The report has segmented the market into the following categories:

Payment Type Insights:

• Proximity Payment 
  • Near Field Communication (NFC)
  • Quick Response (QR) Code
• Remote Payment
  • Internet Payments
  • Direct Operator Billing
  • Digital Wallet
  • SMS Payments

Industry Insights:

• Media and Entertainment
• Retail and E-commerce
• BFSI
• Automotive
• Medical and Healthcare
• Transportation
• Consumer Electronics
• Others

Regional Insights:

• Northern Vietnam
• Central Vietnam
• Southern Vietnam

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Key highlights of the Report:

• Market Performance (2019-2024)
• Market Outlook (2025-2033)
• COVID-19 Impact on the Market
• Porter’s Five Forces Analysis
• Strategic Recommendations
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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