What is the current Vietnam Payments Market size?

The Vietnam Payments Market is projected to register a CAGR of 10.58% during the forecast period (2024-2029) Read More

Who are the key players in Vietnam Payments Market?

VietinBank Group, Vietnam Bank for Agriculture and Rural Development, Bank for Investment and Development of Vietnam, PayPal Pte. Ltd. and MoMo are the major companies operating in the Vietnam Payments Market. Read More

What years does this Vietnam Payments Market cover?

The report covers the Vietnam Payments Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Vietnam Payments Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

What future innovations are expected in the Vietnam Payments Market?

Future innovations that are expected in the Vietnam Payments Market are a) Advancements in biometric authentication b) Integration of payment systems with IoT devices c) Expansion of cross-border payment solutions Read More

Wha are the Major challenges faced by the Vietnam Payments Market?

Major challenges faced by the Payments Market in Vietnam are a) Regulatory hurdles b) Cybersecurity concerns c) Need for improved digital infrastructure to support the expanding market Read More

Vietnam Payment Industry Report | Market Analysis, Size & Trends Overview

Vietnam Payment Market Size - Industry Report on Share, Growth Trends & Forecasts Analysis (2024 - 2029)

The Report Includes Vietnam Mobile Payment Market and is Segmented by Mode of Payment (Point of Sale (Card Payments, Digital Wallet, Cash), Online Sale (Card Payments, Digital Wallet)), and by End-user Industries (Retail, Entertainment, Healthcare, Hospitality). The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

Vietnam Payments Industry Overview

The Vietnam payments market is highly fragmented, with firms such as PayPal, MoMo, Samsung Pay, and others accounting for a majority of the market share. Furthermore, these companies are spending a lot of money on research and development in order to bring new payment technologies to the market. In Vietnam, strict government laws and policies will drive the market, making it more appealing and competitive. The following are some of the most significant market developments:

January 2022 - The Vietnam Bank for Agriculture and Rural Development (Agribank) and FWD Vietnam Life Insurance Company Limited (FWD Vietnam) officially signed a cooperation agreement on insurance distribution through banks in order to better meet the financial and insurance needs of the people. The partnership between Agribank and FWD Vietnam combines Agribank's statewide and biggest distribution network with FWD Vietnam's expertise in designing insurance products fit for a diverse range of clients and digital platforms, resulting in a variety of FWD Vietnam customer experiences.
June 2022 - The Maritime Commercial Joint Stock Bank of Vietnam (MSB) has chosen Temenos to modernize its main banking system. MSB said it will be able to bring creative new products to market faster and at a reduced cost using Temenos core banking solutions for retail and corporate banking, which include analytics, payments, and data lake capabilities.