Payment methods in Vietnam
Vietnamese buy US$13 billion worth of goods and services online every year, rising to US$24 billion by 2027.
Market takeaways
- Vietnamese buy US$13 billion worth of goods and services online every year, rising to US$24 billion by 2027.
- Online shoppers in Vietnam buy around US$5 billion worth of online purchases from online merchants in other countries.
- Online shoppers in Vietnam use alternative and digital payment methods in more than 70% of all online transactions.
- Some of the most popular digital payment methods in Vietnam include the mobile wallet MoMo, a range of bank-transfer apps, and cash on delivery.
- The Vietnamese buy 51% of all their online purchases using a mobile device, compared to 65% across the whole region.
Population
99.5M
Online population
85.6M
B2C e-commerce
$13B
Banked population
42%
Credit card population
4%
E-commerce of total retail
7%
Payment method breakdown
- Card27%
- Cash18%
- Bank Transfer21%
- E-Wallet31%
- Other3%
Card scheme breakdown
- Visa7%
- Mastercard6%
- American Express0%
- Local schemes87%
- Other1%
Cross-border e-commerce
Market data coming soon.
Featured payment methods in Vietnam
Popular options based on coverage and prominence in this market.
MoMo
A digital wallet that has contributed to a rapid shift from a cash-based to a wallet-based economy in Vietnam.
GrabPay
The payment component of the Grab super app, used for ride-hailing, food delivery, and e-commerce payments. It is widely accepted by over 100,000 merchants across Southeast Asia. Flow: User confirms in Grab app or via web redirect, funds are deducted from wallet or linked source, confirmation returned instantly.
ZaloPay
A digital wallet that is used for online transactions in Vietnam.
Featured banks in Vietnam
Major institutions operating in this market.
Maybank
Kuala Lumpur, Malaysia
Maybank is Malaysia's largest bank and one of Southeast Asia's top financial groups, with a strong ASEAN franchise offering retail, SME, corporate, and Islamic banking.
UOB (United Overseas Bank)
Singapore
UOB is Singapore's third-largest bank with a strong pan-Asian network covering ASEAN markets, offering retail, SME, and corporate banking.
Bangkok Bank
Bangkok, Thailand
Bangkok Bank is Thailand's largest bank by assets, offering retail, SME, and corporate banking with a strong regional network across ASEAN.
CIMB Bank
Kuala Lumpur, Malaysia
CIMB Bank is Malaysia's second-largest bank and a leading regional bank across ASEAN, offering retail, SME, corporate, and Islamic banking.
KB Kookmin Bank
Seoul, South Korea
KB Kookmin Bank is South Korea's largest bank, part of KB Financial Group, offering retail, corporate, and investment banking.
Shinhan Bank
Seoul, South Korea
Shinhan Bank is part of Shinhan Financial Group, one of South Korea's leading banks with retail, corporate, and investment banking operations across Asia.
Explore other countries
Discover payment methods in other countries from Asia
