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Market Overview

The Vietnam digital payment market size reached USD 498.0 Million in 2024 and is expected to grow to USD 1,597.1 Million by 2033, with a CAGR of 13.82% during the forecast period 2025-2033. The market growth is driven by increasing smartphone penetration, booming e-commerce, and the shift to contactless payments powered by mobile payment apps like MoMo and supportive government digital transformation policies. Advances such as QR codes and biometric authentication further fuel this expansion. 

Study Assumption Years

• Base Year: 2024
• Historical Year/Period: 2019-2024
• Forecast Year/Period: 2025-2033

Vietnam Digital Payment Market Key Takeaways

• Vietnam digital payment market size stood at USD 498.0 Million in 2024.
• The market is projected to grow at a CAGR of 13.82% between 2025 and 2033.
• The forecast period for growth assessment is from 2025 to 2033.
• The accelerated adoption of digital payments is propelled by widespread smartphone use and increasing internet penetration.
• The rise in e-commerce and demand for contactless transactions have further fueled market expansion.
• Government initiatives, including the National Digital Transformation Program, enhance infrastructure and regulatory frameworks supporting cashless payments.
• Advancements in payment technology like blockchain, AI, biometrics, and QR codes improve security and transaction efficiency.

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Market Growth Factors

Vietnam’s digital payment market is primarily driven by the widespread adoption of smartphones and increased internet penetration. As more Vietnamese consumers gain access to smartphones and high-speed internet, digital payment accessibility improves substantially, facilitating convenience and faster transactions. The growth of e-commerce activities further supports digital payment adoption, with secure and seamless options like digital wallets and bank cards becoming preferred payment modes for online shopping. This trend is fueled by the rapid digitization of businesses and consumer preference for remote purchasing.

Contactless payments have increased markedly, especially post the COVID-19 pandemic, due to heightened hygiene awareness and the preference for touch-free payment methods. Technologies such as NFC-enabled cards, mobile wallets, and QR codes have gained popularity, driving consumer adoption toward faster, safer payment experiences. This shift has been sustainable, with businesses and financial institutions updating infrastructure to accommodate contactless solutions.

Government support plays a vital role in shaping the digital payment ecosystem in Vietnam. Initiatives like the National Digital Transformation Program focus on creating a transparent, financial inclusion-driven economy by promoting mobile payments and open banking systems. Additionally, rapid advancements in blockchain, artificial intelligence, and biometric security are transforming transaction security and personalization, helping build consumer trust and boosting market growth.

Market Segmentation

Component Insights:

• Solutions: Includes Application Program Interface, Payment Gateway, Payment Processing, Payment Security and Fraud Management, Transaction Risk Management, and others.
• Services: Comprises Professional Services and Managed Services.

Payment Mode Insights:

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

Deployment Type Insights:

• Cloud-based
• On-premises

End Use Industry Insights:

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

Regional Insights

The Vietnam digital payment market is segmented into Northern Vietnam, Central Vietnam, and Southern Vietnam. The report presents a comprehensive regional analysis but does not specify dominant regions or exact regional market shares or CAGR values. The segmentation highlights all three regions as key markets driving Vietnam digital payments.

Recent Developments & News

In June 2025, Visa advanced Vietnam’s digital payment infrastructure by supporting Cashless Day 2025, launching Click to Pay, and integrating with major e-wallets, enhancing consumer engagement. Eximbank Vietnam rolled out the Way4 card management system by OpenWay, allowing real-time payments and improved fraud detection. Bitget Wallet introduced crypto payments using the national VietQR system, enabling stablecoin payments across two million merchants. In April 2025, IDEMIA Secure Transactions partnered with NAPAS to integrate tokenization platforms across 40+ banks, enhancing security and contactless payment adoption in Vietnam.

Key Players

• Visa
• Eximbank Vietnam
• Bitget Wallet
• IDEMIA Secure Transactions
• NAPAS

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