Vietnam Fintech Market Report and Forecast 2025-2034
Description
The Vietnam fintech market reached approximately USD 15.40 billion in 2024. The market is projected to grow at a CAGR of 17.8% between 2025 and 2034, reaching a value of around USD 67.27 billion by 2034.
Vietnam Fintech Market Growth
Vietnam is making significant strides in the fintech sector, solidifying its position as the second-largest player in the ASEAN fintech market. According to UOB, the number of fintech companies has quadrupled in recent years, increasing from 39 in 2015 to over 200 in 2022. This growth and evolution demonstrate the rapid development of the market.
In the past few years, there has been a significant improvement in internet accessibility in Vietnam, leading to a greater number of people having access to high-speed internet connections. In 2023, Vietnam boasted 77.93 million Internet users, representing 79.1% of the overall population. As a result, there has been a rise in the use of online financial services. Additionally, the increase in digital literacy is apparent as more individuals are becoming proficient in using digital tools and services. The Vietnamese government is actively implementing various projects to universalise digital literacy by 2025. This growing familiarity with technology is fostering the adoption of fintech solutions, consequently leading to the market expansion in Vietnam.
Moreover, Vietnam's government, along with multiple banking institutions, is implementing various measures to bolster the market within the nation. For instance, the State Bank of Vietnam is actively working on creating a Sandbox environment for FinTech startups to trial their innovative products. This initiative not only assists the government in understanding the risks linked to new business models but also aids in the formulation of regulations that encourage innovation.
Vietnam Fintech Industry Segmentation
“Vietnam Fintech Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Deployment Mode
On-Premise
Cloud
Market Breakup by Technology
Application Programming Interface (API)
Artificial Intelligence
Robotic Process Automation
Blockchain
Data Analytics
Others
Market Breakup by Application
Trading
Banking
Insurance
Taxation
Others
Market Breakup by Region
Southeast
Red River Delta
Mekong River Delta
South Central Coast
Others
Vietnam Fintech Market Share
Based on application, the market is segmented into trading, banking, insurance, taxation, and others. The banking sector is projected to grow at a CAGR of 20.3% between 2025 and 2034. Fintechs are providing banking institutions with advanced tools to boost their efficiency, such as chatbots for improved customer service, mobile applications for instant access to account information, and machine learning for enhanced fraud protection.
Leading Companies in the Vietnam Fintech Market
Major players are focusing on the adoption and integration of advanced technologies to gain a competitive edge in the market.
ONLINE MOBILE SERVICES JOINT STOCK COMPANY
ZION Joint Stock Company
Vietnam Payment Solutions Joint Stock Company (VNPAY)
Moca Inc.
PAYOO SERVICES
Timo Digital Bank
VIETTEL Group
Smart Network Trading and Services Joint Stock Company
Finhay Vietnam Joint Stock Company
NEXTPAY DIGITAL CONVERSION GROUP JOINT STOCK COMPANY
Others
View Our Regional Reports
United States Fintech Market
Brazil Fintech Market
Fintech Market
France Fintech Market
Germany Fintech Market
United Kingdom Fintech Market
China Fintech Market
Australia Fintech Market
Saudi Arabia Fintech Market
Vietnam Fintech Market Report Snapshots
Vietnam Fintech Market Size
Vietnam Fintech Market Growth
Vietnam Fintech Market Share
Vietnam Fintech Companies
Vietnam Fintech Market Growth
Vietnam is making significant strides in the fintech sector, solidifying its position as the second-largest player in the ASEAN fintech market. According to UOB, the number of fintech companies has quadrupled in recent years, increasing from 39 in 2015 to over 200 in 2022. This growth and evolution demonstrate the rapid development of the market.
In the past few years, there has been a significant improvement in internet accessibility in Vietnam, leading to a greater number of people having access to high-speed internet connections. In 2023, Vietnam boasted 77.93 million Internet users, representing 79.1% of the overall population. As a result, there has been a rise in the use of online financial services. Additionally, the increase in digital literacy is apparent as more individuals are becoming proficient in using digital tools and services. The Vietnamese government is actively implementing various projects to universalise digital literacy by 2025. This growing familiarity with technology is fostering the adoption of fintech solutions, consequently leading to the market expansion in Vietnam.
Moreover, Vietnam's government, along with multiple banking institutions, is implementing various measures to bolster the market within the nation. For instance, the State Bank of Vietnam is actively working on creating a Sandbox environment for FinTech startups to trial their innovative products. This initiative not only assists the government in understanding the risks linked to new business models but also aids in the formulation of regulations that encourage innovation.
Vietnam Fintech Industry Segmentation
“Vietnam Fintech Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Deployment Mode
On-Premise
Cloud
Market Breakup by Technology
Application Programming Interface (API)
Artificial Intelligence
Robotic Process Automation
Blockchain
Data Analytics
Others
Market Breakup by Application
Trading
Banking
Insurance
Taxation
Others
Market Breakup by Region
Southeast
Red River Delta
Mekong River Delta
South Central Coast
Others
Vietnam Fintech Market Share
Based on application, the market is segmented into trading, banking, insurance, taxation, and others. The banking sector is projected to grow at a CAGR of 20.3% between 2025 and 2034. Fintechs are providing banking institutions with advanced tools to boost their efficiency, such as chatbots for improved customer service, mobile applications for instant access to account information, and machine learning for enhanced fraud protection.
Leading Companies in the Vietnam Fintech Market
Major players are focusing on the adoption and integration of advanced technologies to gain a competitive edge in the market.
ONLINE MOBILE SERVICES JOINT STOCK COMPANY
ZION Joint Stock Company
Vietnam Payment Solutions Joint Stock Company (VNPAY)
Moca Inc.
PAYOO SERVICES
Timo Digital Bank
VIETTEL Group
Smart Network Trading and Services Joint Stock Company
Finhay Vietnam Joint Stock Company
NEXTPAY DIGITAL CONVERSION GROUP JOINT STOCK COMPANY
Others
View Our Regional Reports
United States Fintech Market
Brazil Fintech Market
Fintech Market
France Fintech Market
Germany Fintech Market
United Kingdom Fintech Market
China Fintech Market
Australia Fintech Market
Saudi Arabia Fintech Market
Vietnam Fintech Market Report Snapshots
Vietnam Fintech Market Size
Vietnam Fintech Market Growth
Vietnam Fintech Market Share
Vietnam Fintech Companies
Table of Contents
133 Pages
- 1 Executive Summary
- 1.1 Market Size 2024-2025
- 1.2 Market Growth 2025(F)-2034(F)
- 1.3 Key Demand Drivers
- 1.4 Key Players and Competitive Structure
- 1.5 Industry Best Practices
- 1.6 Recent Trends and Developments
- 1.7 Industry Outlook
- 2 Market Overview and Stakeholder Insights
- 2.1 Market Trends
- 2.2 Key Verticals
- 2.3 Key Regions
- 2.4 Supplier Power
- 2.5 Buyer Power
- 2.6 Key Market Opportunities and Risks
- 2.7 Key Initiatives by Stakeholders
- 3 Economic Summary
- 3.1 GDP Outlook
- 3.2 GDP Per Capita Growth
- 3.3 Inflation Trends
- 3.4 Democracy Index
- 3.5 Gross Public Debt Ratios
- 3.6 Balance of Payment (BoP) Position
- 3.7 Population Outlook
- 3.8 Urbanisation Trends
- 4 Country Risk Profiles
- 4.1 Country Risk
- 4.2 Business Climate
- 5 Asia Pacific Fintech Market Overview
- 5.1 Key Industry Highlights
- 5.2 Asia Pacific Fintech Historical Market (2018-2024)
- 5.3 Asia Pacific Fintech Market Forecast (2025-2034)
- 6 Vietnam Fintech Market Analysis
- 6.1 Key Industry Highlights
- 6.2 Vietnam Fintech Historical Market (2018-2024)
- 6.3 Vietnam Fintech Market Forecast (2025-2034)
- 7 Vietnam Fintech Market by Deployment Mode
- 7.1 On-Premise
- 7.1.1 Historical Trend (2018-2024)
- 7.1.2 Forecast Trend (2025-2034)
- 7.2 Cloud
- 7.2.1 Historical Trend (2018-2024)
- 7.2.2 Forecast Trend (2025-2034)
- 8 Vietnam Fintech Market by Technology
- 8.1 Application Programming Interface (API)
- 8.1.1 Historical Trend (2018-2024)
- 8.1.2 Forecast Trend (2025-2034)
- 8.2 Artificial Intelligence
- 8.2.1 Historical Trend (2018-2024)
- 8.2.2 Forecast Trend (2025-2034)
- 8.3 Robotic Process Automation
- 8.3.1 Historical Trend (2018-2024)
- 8.3.2 Forecast Trend (2025-2034)
- 8.4 Blockchain
- 8.4.1 Historical Trend (2018-2024)
- 8.4.2 Forecast Trend (2025-2034)
- 8.5 Data Analytics
- 8.5.1 Historical Trend (2018-2024)
- 8.5.2 Forecast Trend (2025-2034)
- 8.6 Others
- 9 Vietnam Fintech Market by Application
- 9.1 Trading
- 9.1.1 Historical Trend (2018-2024)
- 9.1.2 Forecast Trend (2025-2034)
- 9.2 Banking
- 9.2.1 Historical Trend (2018-2024)
- 9.2.2 Forecast Trend (2025-2034)
- 9.3 Insurance
- 9.3.1 Historical Trend (2018-2024)
- 9.3.2 Forecast Trend (2025-2034)
- 9.4 Taxation
- 9.4.1 Historical Trend (2018-2024)
- 9.4.2 Forecast Trend (2025-2034)
- 9.5 Others
- 10 Vietnam Fintech Market by Region
- 10.1 Southeast
- 10.1.1 Historical Trend (2018-2024)
- 10.1.2 Forecast Trend (2025-2034)
- 10.2 Red River Delta
- 10.2.1 Historical Trend (2018-2024)
- 10.2.2 Forecast Trend (2025-2034)
- 10.3 Mekong River Delta
- 10.3.1 Historical Trend (2018-2024)
- 10.3.2 Forecast Trend (2025-2034)
- 10.4 South Central Coast
- 10.4.1 Historical Trend (2018-2024)
- 10.4.2 Forecast Trend (2025-2034)
- 10.5 Others
- 11 Market Dynamics
- 11.1 SWOT Analysis
- 11.1.1 Strengths
- 11.1.2 Weaknesses
- 11.1.3 Opportunities
- 11.1.4 Threats
- 11.2 Porter’s Five Forces Analysis
- 11.2.1 Supplier’s Power
- 11.2.2 Buyer’s Power
- 11.2.3 Threat of New Entrants
- 11.2.4 Degree of Rivalry
- 11.2.5 Threat of Substitutes
- 11.3 Key Indicators of Demand
- 11.4 Key Indicators of Price
- 12 Competitive Landscape
- 12.1 Supplier Selection
- 12.2 Key Global Players
- 12.3 Key Regional Players
- 12.4 Key Player Strategies
- 12.5 Company Profiles
- 12.5.1 ONLINE MOBILE SERVICES JOINT STOCK COMPANY
- 12.5.1.1 Company Overview
- 12.5.1.2 Product Portfolio
- 12.5.1.3 Demographic Reach and Achievements
- 12.5.1.4 Certifications
- 12.5.2 ZION Joint Stock Company
- 12.5.2.1 Company Overview
- 12.5.2.2 Product Portfolio
- 12.5.2.3 Demographic Reach and Achievements
- 12.5.2.4 Certifications
- 12.5.3 Vietnam Payment Solutions Joint Stock Company (VNPAY)
- 12.5.3.1 Company Overview
- 12.5.3.2 Product Portfolio
- 12.5.3.3 Demographic Reach and Achievements
- 12.5.3.4 Certifications
- 12.5.4 Moca Inc.
- 12.5.4.1 Company Overview
- 12.5.4.2 Product Portfolio
- 12.5.4.3 Demographic Reach and Achievements
- 12.5.4.4 Certifications
- 12.5.5 PAYOO SERVICES
- 12.5.5.1 Company Overview
- 12.5.5.2 Product Portfolio
- 12.5.5.3 Demographic Reach and Achievements
- 12.5.5.4 Certifications
- 12.5.6 Timo Digital Bank
- 12.5.6.1 Company Overview
- 12.5.6.2 Product Portfolio
- 12.5.6.3 Demographic Reach and Achievements
- 12.5.6.4 Certifications
- 12.5.7 VIETTEL Group
- 12.5.7.1 Company Overview
- 12.5.7.2 Product Portfolio
- 12.5.7.3 Demographic Reach and Achievements
- 12.5.7.4 Certifications
- 12.5.8 Smart Network Trading and Services Joint Stock Company
- 12.5.8.1 Company Overview
- 12.5.8.2 Product Portfolio
- 12.5.8.3 Demographic Reach and Achievements
- 12.5.8.4 Certifications
- 12.5.9 Finhay Vietnam Joint Stock Company
- 12.5.9.1 Company Overview
- 12.5.9.2 Product Portfolio
- 12.5.9.3 Demographic Reach and Achievements
- 12.5.9.4 Certifications
- 12.5.10 NEXTPAY DIGITAL CONVERSION GROUP JOINT STOCK COMPANY
- 12.5.10.1 Company Overview
- 12.5.10.2 Product Portfolio
- 12.5.10.3 Demographic Reach and Achievements
- 12.5.10.4 Certifications
- 12.5.11 Others
Pricing
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