Mobile Payment Market in Vietnam Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Vietnam Mobile Payment Market is Segmented by Type (Proximity Payment, Remote Payment). The Market Sizes and Forecasts are in Terms of Value (USD) for all the Above Segments.

Mobile Payment Market in Vietnam Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Vietnam Mobile Payments Market Size

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Vietnam Mobile Payments Market Summary
Study Period 2019 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Market Size (2025) USD 47.56 Billion
Market Size (2030) USD 76.04 Billion
CAGR (2025 - 2030) 9.84 %
Market Concentration Medium

Major Players

Vietnam Mobile Payments Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Vietnam Mobile Payments Market with other markets in Technology, Media and Telecom Industry

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Vietnam Mobile Payments Market Analysis

The Vietnam Mobile Payments Market size is estimated at USD 47.56 billion in 2025, and is expected to reach USD 76.04 billion by 2030, at a CAGR of 9.84% during the forecast period (2025-2030).

Mobile payment systems like M_Service, Viettel Digital Services, ZaloPay, National Payment Corporation of Vietnam, and GrabPay by businesses and services nationwide are progressing quickly in Vietnam. This trend is anticipated to persist during the projection period due to rising internet usage and the rapid expansion of online shopping.

  • Mobile phones, particularly smartphones, have elevated to essential significance in the context of the world economy's fast expansion. Additionally, most people in the country consider the Internet a basic necessity for daily living. Due to this, the number of cell phones and internet users grew massively, driving the country's mobile payment market.
  • Many industry participants, like ZaloPay and GrabPay, use reward systems to retain existing mobile payment service users and attract new ones. Several service providers, for instance, provide scratch cards equipped with a reasonable amount to facilitate transactions through their applications. Such compensation schemes encourage customers to use mobile payment apps, boosting the mobile payment market in Vietnam.
  • Additionally, the Party and the Government of Vietnam have recently given digitalization and improved non-cash payment a great deal of attention and firm directives. Based on such directives, the State Bank of Vietnam (SBV) has continuously enhanced the legislative frameworks and regulatory procedures to support the banking industry's digital transformation and adoption of cashless transactions. The payment infrastructure has received steadily increasing amounts of investment. Financial literacy and communication have both been emphasized. These have produced crucial pillars for the rapid development of digital payments and banking digitalization.
  • Further, banking digitalization has made significant progress, particularly in payment operations, offering real advantages to individuals and companies. These outcomes are indicated by the data published by the State Bank of Vietnam that nearly 70% of adults have payment accounts in the past year. The payment systems have operated smoothly and safely, meeting almost all economic payment demands with a high average annual growth rate in mobile payment transactions. Many banking services are now entirely used in digital channels, like opening new accounts and issuing bank cards, deposits, money transfers, etc.
  • The market for mobile payments is expected to expand over the forecast period due to the growing popularity of M-commerce in Vietnam, which involves online businesses utilizing wireless devices like smartphones. Furthermore, M-commerce enables consumers to transact anywhere there is wireless internet access. Additionally, businesses like ZaloPay have already debuted their mobile commerce offerings. Customers can now instantly make in-store purchases without the hassle of swiping a card due to the introduction of digital wallets like the National Payment Corporation of Vietnam and M_Service.
  • The market for mobile payments is growing but is being constrained by rising data breaches and security problems. Additionally, citing concerns about security and unlawful use of personal data, many customers hesitate to accept the new technology.

Vietnam Mobile Payments Industry Overview

The Vietnam mobile payments market is moderately consolidated and consists of several major players. The major players with a prominent share in the market such as M_Service, Viettel Digital Services, ZaloPay, National Payment Corporation of Vietnam, GrabPay, etc., are focusing on expanding their customer base across foreign countries through the adoption of various technologies.

  • April 2022 - ZaloPay developed the Accumulation Account product as an electronic wallet with various user advantages. To invest and make money, anyone may use idle funds up to a maximum of 10,000 VND. Profit is paid daily at a rate of 5% annually. The product is controlled by BIDV and ACB Fund Management Company Limited (ACBC) to make savings deposits at Vietnamese banks.
  • June 2023 - Samsung Vina Electronics, a subsidiary of Samsung Electronics, signed a memorandum of understanding (MOU) with Shinhan Bank Vietnam, which offers corporate users various banking and financial services, to establish a strategic relationship between the financial products of Shinhan Bank and Samsung Wallet. The partnership will serve as a foundation to accelerate a convenient and comfortable lifestyle for Galaxy users and Shinhan customers within the scenario of mobile payment making its way to all activities and entertainment of Vietnamese customers.

Vietnam Mobile Payments Market Leaders

  1. ZaloPay

  2. National Payment Corporation of Vietnam

  3. MoMo (M_Service)

  4. Viettel Digital Services Corporation

  5. Grab

  6. *Disclaimer: Major Players sorted in no particular order
Vietnam Mobile Payments Market Concentration
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Vietnam Mobile Payments Market News

  • May 2024 - Visa has partnered with MoMo, VNPAY, and ZaloPay, driving digital payment options in Vietnam. The primary goal of this alliance is to streamline payments for Visa cardholders, especially at small and medium enterprises (SMEs). Through this collaboration, Visa users can directly tap into their Visa cards for purchases at merchants who already accept payments through the QR codes of these three e-wallets. This move is poised to boost sales for SMEs and widen their customer reach, elevating the overall customer experience. 
  • May 2024 - Vietnam's PVcomBank has unveiled its mobile banking application, PVConnect, developed in collaboration with Temenos Digital and hosted on Amazon Web Services (AWS). The app, according to Temenos, boasts a contemporary and intuitive design, offering a suite of services including electronic ID verification, bill management, fund transfers, payments, and a rewards program.

Vietnam Mobile Payments Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET INSIGHTS

  • 4.1 Market Overview
  • 4.2 Market Sizing and Estimates of Vietnam Mobile Payments Market
  • 4.3 Industry Attractiveness - Porter's Five Forces Analysis
    • 4.3.1 Bargaining Power of Suppliers
    • 4.3.2 Bargaining Power of Consumers
    • 4.3.3 Threat of New Entrants
    • 4.3.4 Threat of Substitute Products
    • 4.3.5 Intensity of Competitive Rivalry
  • 4.4 Assessment of COVID-19 Impact on the Market

5. MARKET DYNAMICS

  • 5.1 Market Drivers
    • 5.1.1 Increasing Internet Penetration and Growing M-commerce Market
    • 5.1.2 Increasing Number of Loyality Benefits in Mobile Environment
  • 5.2 Market Restraints
    • 5.2.1 Security Issues Associated with Mobile Payments
  • 5.3 Key Regulations and Standards in the Mobile Payments Industry
  • 5.4 Analysis of Business Models in the Industry
  • 5.5 Analysis on Enabling Technologies (Coverage to include NFC, QR, etc.)
  • 5.6 Commentary on the growth of Mobile Commerce and its influence on the Market

6. MARKET SEGMENTATION

  • 6.1 By Type (Market share in percentage based on relative adoption)
    • 6.1.1 Proximity Payment
    • 6.1.2 Remote Payment

7. COMPETITIVE LANDSCAPE

  • 7.1 Company Profiles*
    • 7.1.1 MoMo (M_Service)
    • 7.1.2 Viettel Digital Services Corporation
    • 7.1.3 ZaloPay
    • 7.1.4 Grab
    • 7.1.5 National Payment Corporation of Vietnam
    • 7.1.6 OnePay
    • 7.1.7 PayPal Pte. Ltd.
    • 7.1.8 VNPAY

8. INVESTMENT ANALYSIS

9. FUTURE OUTLOOK OF THE MARKET

**Subject to Availability
List of vendors may vary based on market dynamics
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Vietnam Mobile Payments Industry Segmentation

Mobile payment is the transfer or payment method of funds, typically to a merchant, person, or business for bills, goods, and services, using a mobile device to execute and confirm the payment. The payment tool can be a mobile browser, digital (virtual or e-) wallet, or SIM toolkit / mobile menu. The study tracks the transaction type of mobile payment by Proximity and Remote payment. The study tracks key market metrics, underlying growth influencers, and significant industry vendors, supporting Vietnam's mobile payments market estimates and growth rates throughout the anticipated period. The study looks at COVID-19's overall influence on Vietnam's payment ecosystem.

The Vietnam Mobile Payments Market is segmented by type (proximity payment, remote payment). The market sizes and forecasts are in terms of value (USD) for all the above segments.

By Type (Market share in percentage based on relative adoption) Proximity Payment
Remote Payment
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Vietnam Mobile Payments Market Research FAQs

How big is the Vietnam Mobile Payments Market?

The Vietnam Mobile Payments Market size is expected to reach USD 47.56 billion in 2025 and grow at a CAGR of 9.84% to reach USD 76.04 billion by 2030.

What is the current Vietnam Mobile Payments Market size?

In 2025, the Vietnam Mobile Payments Market size is expected to reach USD 47.56 billion.

Who are the key players in Vietnam Mobile Payments Market?

ZaloPay, National Payment Corporation of Vietnam, MoMo (M_Service), Viettel Digital Services Corporation and Grab are the major companies operating in the Vietnam Mobile Payments Market.

What years does this Vietnam Mobile Payments Market cover, and what was the market size in 2024?

In 2024, the Vietnam Mobile Payments Market size was estimated at USD 42.88 billion. The report covers the Vietnam Mobile Payments Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Vietnam Mobile Payments Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Mobile Payment in Vietnam Industry Report

The Vietnam mobile payment market is experiencing significant growth, driven by the increasing adoption of smartphones and a surge in m-commerce, especially in urban areas like Hanoi and Ho Chi Minh City. This expansion is supported by government initiatives promoting digital payments and financial inclusion. The market, segmented by type, transaction mode, application, and region, sees remote payments leading due to their convenience. However, proximity payments are gaining traction, offering quick, contactless methods that appeal to consumers and merchants alike. Technologies like NFC and QR codes are enhancing transaction security and ease, pushing the mobile payment market in Vietnam forward. Despite challenges such as security concerns and regulatory hurdles, the digital transformation and growing comfort with mobile technology among the population suggest a promising future for the Vietnam mobile payment landscape. For detailed statistics on market share, size, and revenue growth, consult the Mordor Intelligence™ Industry Reports. These analyses include market forecasts, historical overviews, and you can get a sample of this industry analysis as a free report PDF download.