Vietnam Fintech Digital Payment Market Size | 2019-2033

Vietnam Fintech Digital Payment Market Growth and Performance

• Vietnam fintech digital payment market size is expected to witness substantial growth in the coming years, expanding at a CAGR of 24.3 %, to achieve market value of US$ XX9.21 Billion by 2033.
• The individual consumers segment stood at US$ XX.29 Billion in 2023.

Vietnam Fintech Digital Payment Market Outlook

Vietnam digital payment landscape is undergoing a significant transformation, driven by rapid technological advancements, robust government initiatives, and evolving consumer behaviors. As of 2025, the market is projected to reach a transaction value of approximately USD 45 billion, positioning Vietnam as a leader in Southeast Asia's digital economy. The government's commitment to a cashless society is evident through initiatives like the National Digital Transformation Program, aiming to increase the digital economy's contribution to GDP to 20% by 2025. This vision is supported by the widespread adoption of mobile devices, with 78.4% of adults owning smartphones, facilitating the proliferation of mobile payment platforms across both urban and rural areas.

E-wallets have become integral to Vietnam's digital payment ecosystem. Leading platforms such as MoMo, ZaloPay, and ViettelPay have expanded their user bases significantly, offering services ranging from bill payments to online shopping. The convenience and security provided by these digital wallets have made them a preferred choice among consumers. Artificial Intelligence (AI) is playing a pivotal role in enhancing the digital payment experience. Banks and fintech companies are leveraging AI for fraud detection, personalized customer experiences, and efficient risk management. For instance, biometric authentication methods, such as facial recognition, are being implemented to secure online transactions exceeding VND10 million (approximately $393), bolstering consumer trust in digital platforms.

Cross-border payment solutions are also gaining traction. In a significant move, the National Payment Corporation of Vietnam and China's UnionPay International signed an agreement to deploy cross-border QR code payments, facilitating seamless transactions between the two countries. This collaboration underscores Vietnam's commitment to integrating with the global digital economy. Despite these advancements, challenges remain. The need for a comprehensive legal framework to manage crypto assets and cryptocurrencies is pressing. The Ministry of Finance is actively working on a government resolution to gather opinions from various ministries and agencies, aiming to ensure the rights and legitimate interests of individuals and organizations in the crypto market.

In conclusion, Vietnam digital payment market is poised for continued growth, driven by technological innovation, supportive government policies, and increasing consumer adoption. As the country advances towards a cashless society, opportunities abound for stakeholders to contribute to and benefit from this dynamic ecosystem.

Vietnam Fintech Digital Payment Market Scope