Vietnam Digital Payment Market

Vietnam Digital Payment Market Overview: 

Vietnam digital payment market size reached USD 498.0 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 1,597.1 Million by 2033, exhibiting a growth rate (CAGR) of 13.82% during 2025-2033. The market is growing fast thanks to widespread smartphone use, booming e-commerce, and a shift to contactless transactions. Mobile payment apps like MoMo are boosting adoption, while the government’s National Digital Transformation Program supports this shift through better infrastructure and policies. Changing consumer habits favor speed and security, pushing financial firms to upgrade Vietnam payment methods. Advances like QR codes and biometrics, plus strong digital transformation policies, drive growth nationwide.

Digital payment is the electronic transfer of funds between parties for goods, services, or financial transactions through digital channels or platforms. It eliminates the need for physical currency or traditional banking instruments, relying on electronic systems and technology to facilitate secure and efficient transactions. Vietnam digital payment methods encompass various technologies and services, including mobile wallets, online banking transfers, credit/debit card transactions, and various electronic payment platforms. One prevalent form of digital payment is through mobile wallets, where users store their payment information securely on a mobile device and can make transactions by simply using their smartphones. Online banking enables users to transfer funds, pay bills, and manage their finances electronically. Credit and debit cards, whether physical or virtual, remain key components of the Vietnam payment system, connecting directly to user bank accounts. The increasing digitization of financial services and the rise of e-commerce have accelerated the adoption of digital payments globally. The convenience, speed, and accessibility of digital payment methods appeal to consumers and businesses. Security measures such as encryption, two-factor authentication, and biometric verification enhance the safety of digital transactions. Digital payment in Vietnam has become integral to modern economies, promoting financial inclusion by providing access to banking services for individuals who may not have easy access to traditional banking. In Vietnam, these technologies contribute to greater financial inclusion, extending services to underserved populations and supporting the development of the Vietnam digital economy. As technology continues to advance, the landscape of digital payments evolves with the integration of blockchain, contactless technologies, and other innovations, shaping the future of how individuals and businesses exchange value in the digital era.

Vietnam Digital Payment Market Trends:

Expansion of Digital Payments in Vietnam

Vietnam digital transformation sector is majorly driven by the widespread adoption of smartphones. In line with this, the increasing internet penetration is positively influencing the market. As more individuals gain access to smartphones and high-speed internet, the convenience of digital payments becomes increasingly accessible, driving market expansion. Furthermore, the rise in e-commerce activities is another significant factor propelling the digital payment market. With the growth of online retail, consumers seek secure and seamless payment options, leading to increased adoption of digital wallets, credit/debit card transactions, and other electronic payment methods. The convenience of making purchases from the comfort of one's home, coupled with the rapid digitization of businesses, further accelerates the demand for digital payment solutions. Moreover, contactless payments have experienced a rise in popularity, especially in the context of the ongoing COVID-19 pandemic. The heightened awareness of hygiene and the preference for touch-free transactions have driven the adoption of contactless payment methods, including NFC-enabled cards and mobile wallets, contributing significantly to market growth. Besides, government initiatives and regulatory support are crucial in fostering the digital payment ecosystem. The government is actively promoting Vietnam mobile payment as part of financial inclusion efforts and to create a more transparent and traceable financial system. Initiatives such as the implementation of digital wallets, UPI systems, and open banking frameworks contribute to the overall growth of the digital payment market. Additionally, the rapid advancements in payment technologies, including blockchain, artificial intelligence, and biometrics, are transforming the landscape of digital payments. These technologies enhance the security, efficiency, and personalization of transactions, attracting businesses and consumers alike to embrace digital payment methods.

In-App Payments and Social Commerce Growth

In-app payments are gaining significance in digital transactions as the use of mobile application in everyday life grows. There are multiple in-app payments systems, for instance, that require users to pay for goods, food, and transportation. The smoother and simpler the process is, the greater the convenience for a user. Driving this trend, social commerce has played a vital role. Payment systems start integrating with social media platforms, so customers do not have to leave the social sites for purchasing. Through direct purchases from photos and videos, social commerce has flourished and risen into prominence backed by influencer marketing and live-stream selling. Together, they pave the way for new opportunities for in-app payments and social commerce in creating interactions between consumers and brands in Vietnam.

AI-Powered Security for Digital Payments

AI-enabled payment security is becoming an imperative in Vietnam's burgeoning digital payments landscape. With payments being increasingly carried out using online methods, the protection of payments is a prime concern. Artificial intelligence detects and prevents fraudulent activities by analyzing transaction patterns in real time for anomalies. In addition, it enhances customer security by making authentication smoother through facial recognition and biometric verification. These advances help protect consumers' sensitive information while ensuring a smooth payment experience. Therefore, as AI continues to evolve, it stands to strengthen payment security systems further, bringing thereby trust and in turn, its adoption.

Vietnam Digital Payment Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on component, payment mode, deployment type, and end use industry.

Component Insights:

• Solutions
  • Application Program Interface
  • Payment Gateway
  • Payment Processing
  • Payment Security and Fraud Management
  • Transaction Risk Management
  • Others
• Services 
  • Professional Services 
  • Managed Services

The report has provided a detailed breakup and analysis of the market based on the component. This includes solutions (application program interface, payment gateway, payment processing, payment security and fraud management, transaction risk management, and others), and services (professional services and managed services).

Payment Mode Insights:

• Bank Cards
• Digital Currencies
• Digital Wallets
• Net Banking
• Others

A detailed breakup and analysis of the market based on the payment mode have also been provided in the report. This includes bank cards, digital currencies, digital wallets, net banking, and others.

Deployment Type Insights:

• Cloud-based
• On-premises

The report has provided a detailed breakup and analysis of the market based on the deployment type. This includes cloud-based and on-premises.

End Use Industry Insights:

• BFSI
• Healthcare
• IT and Telecom
• Media and Entertainment
• Retail and E-commerce
• Transportation
• Others

A detailed breakup and analysis of the market based on the end use Industry have also been provided in the report. This includes BFSI, healthcare, IT and telecom, media and entertainment, retail and E-commerce, transportation, and others.

Regional Insights:

• Northern Vietnam
• Central Vietnam
• Southern Vietnam

The report has also provided a comprehensive analysis of all the major regional markets, which include Northern Vietnam, Central Vietnam, and Southern Vietnam.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. 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.

Vietnam Digital Payment Market Recent News:

• June 2025: Visa advanced Vietnam’s digital payment landscape by supporting Cashless Day 2025, launching Click to Pay, integrating with major e-wallets, and promoting rewards through UrBox. These initiatives strengthened adoption, improved transaction convenience, and supported national goals, positively impacting consumer engagement and digital payment infrastructure across Vietnam.
• June 2025: Eximbank Vietnam launched the Way4 card management system by OpenWay, enabling real-time payments, instant fraud prevention, and seamless integration with global e-wallets. This upgrade enhanced digital payment efficiency, supported multi-network transactions, and positioned Eximbank as a leader in Vietnam’s digital banking innovation.
• June 2025: Bitget Wallet launched crypto payments in Vietnam using the national VietQR system. Users paid with stablecoins like USDT and USDC at over two million merchants. This integration marked a major step in merging crypto with mainstream payments, expanding digital payment choices and financial access.
• April 2025: IDEMIA Secure Transactions partnered with NAPAS to expand digital payment in Vietnam by integrating a tokenization platform across 40+ banks. This improved contactless and in-app payments, enhancing transaction security and convenience, and supported Vietnam’s shift toward a fully digital, cashless economy.

Vietnam Digital Payment Market Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Vietnam digital payment market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Vietnam digital payment market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Vietnam digital payment industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.