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Vietnam Cards and Payments: Opportunities and Risks to 2028

Publisher GlobalData
Published Apr 25, 2025
Length 64 Pages
SKU # GBDT20043792

Description

Vietnam Cards and Payments: Opportunities and Risks to 2028

Summary

GlobalData’s ‘Vietnam Cards and Payments: Opportunities and Risks to 2028' report provides detailed analysis of market trends in the Vietnami cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, credit transfer, card, direct debits and cheques during the review-period (2020-24e).

The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2024e-28f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together GlobalData’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

GlobalData’s ‘Vietnam Cards and Payments: Opportunities and Risks to 2028' report provides top-level market analysis, information and insights into the Vietnami cards and payments industry, including -
  • Current and forecast values for each market in the Vietnami cards and payments industry, including debit, and credit cards.
  • Detailed insights into payment instruments including cash, credit transfer, card, direct debits and cheques. It also, includes an overview of the country's key alternative payment instruments.
  • Ecommerce market analysis.
  • Analysis of various market drivers and regulations governing the Vietnami cards and payments industry.
  • Detailed analysis of strategies adopted by banks and other institutions to market debit, and credit cards.
  • Comprehensive analysis of consumer attitudes and buying preferences for cards.
  • The competitive landscape of the Vietnami cards and payments industry.
Key Highlights
  • Vietnamese consumers exhibit a strong inclination toward adopting innovative technologies. As an increasing number of individuals seek accessible, frictionless, and convenient payment solutions, various contactless payment technologies are gaining popularity. Against this backdrop, in July 2024 the SBV mandated that payments of over $390 made via mobile banking apps and digital wallets must be authorized via facial recognition. The move is an attempt to improve the security of online financial transactions amid rising fraud.
  • Banks are progressively adopting digitalization, emphasizing the provision of online banking services. As per the central bank, the ability to open payment accounts online was initially facilitated in March 2021. By May 2024, 40 banks had officially adopted online account opening via electronic Know Your Customer (eKYC) protocols-resulting in nearly 35 million operational payment accounts established via eKYC. In July 2024, 27 banks successfully opened 15.3 million credit card accounts utilizing eKYC. These figures highlight Vietnam’s significant strides toward digital transformation of the financial services sector.
  • To capitalize on Vietnam’s ecommerce growth, international brands are establishing online storefronts within the country. For example, Chinese ecommerce platform Temu launched its online platform in Vietnam in October 2024. In September 2024, YouTube partnered with ecommerce platform Shopee to introduce YouTube Shopping-an online shopping service available in Southeast Asia, including Vietnam. This collaboration enables YouTube users to seamlessly purchase products via Shopee links.
Scope
  • Card market size in terms of number of cards, value and volume of transactions in Vietnam along with detailed card segmentation of debit, and credit cards available in the country.
  • Market sizing and analysis of major payment instruments including cash, credit transfer, card, direct debits and cheques.
  • Payment market trends and growth for both historical and forecast period
  • Competitor analysis with detailed insights into leading card issuers and schemes.
  • Comprehensive analysis of consumer attitudes and buying preferences for cards.
  • A detailed snapshot of country's key alternative payment brands.
Reasons to Buy
  • Make strategic business decisions, using top-level historic and forecast market data, related to the Vietnami cards and payments industry and each market within it.
  • Understand the key market trends and growth opportunities in the Vietnami cards and payments industry.
  • Assess the competitive dynamics in the Vietnami cards and payments industry.
  • Gain insights into marketing strategies used for various card types in Vietnam.
  • Gain insights into key regulations governing the Vietnami cards and payments industry.

Table of Contents

64 Pages
  • Executive Summary
    • Vietnam: Key facts, 2024e
    • Vietnam: Benchmarking of payment cards, 2024e
  • Payment Instruments
    • Payment Cards: Market Sizing and Forecasting
    • Debit Cards: Market Sizing and Forecasting
    • Debit Cards: Schemes
    • Debit Cards: Issuers
    • Credit and Charge Cards: Market Sizing and Forecasting
    • Credit Cards: Market Sizing and Forecasting
    • Credit Cards: Schemes
    • Credit Cards: Issuers
    • Prepaid Cards: Market Sizing and Forecasting
    • Ecommerce: Market Sizing and Forecasting
    • Alternative Payments: Payment Solutions
  • Payment Innovations
  • Job Analysis
    • POS Terminals and ATMs
    • Regulatory Environment
    • Vietnam: payment instrument transaction value (VND trillions), 2020-28f
    • Vietnam: payment instrument transaction value ($ billions), 2020-28f
    • Vietnam: payment instrument transaction volume (millions), 2020-28f
    • Vietnam: payment cards in circulation by type (millions), 2020-28f
    • Vietnam: volume of payment card transactions (millions), 2020-28f
    • Vietnam: value of payment card transactions (VND trillions), 2020-28f
    • Vietnam: value of payment card transactions ($ billions), 2020-28f
    • Vietnam: debit cards in circulation (millions), 2020-28f
    • Vietnam: debit card transaction volume, 2020-28f
    • Vietnam: debit card transaction value (VND), 2020-28f
    • Vietnam: debit card transaction value ($), 2020-28f
    • Vietnam: debit cards in circulation by scheme (millions), 2020-24e
    • Vietnam: debit card transaction value by scheme (VND trillions), 2020-24e
    • Vietnam: debit card transaction value by scheme ($ billions), 2020-24e
    • Vietnam: debit cards in circulation by issuer (millions), 2020-24e
    • Vietnam: debit card transaction value by issuer (VND trillions), 2020-24e
    • Vietnam: debit card transaction value by issuer ($ billions), 2020-24e
    • Vietnam: credit cards in circulation (millions), 2020-28f
    • Vietnam: credit card transaction volume, 2020-28f
    • Vietnam: credit card transaction value (VND), 2020-28f
    • Vietnam: credit card transaction value ($), 2020-28f
    • Vietnam: credit cards in circulation by scheme (000s), 2020-24e
    • Vietnam: credit card transaction value by scheme (VND trillions), 2020-24e
    • Vietnam: credit card transaction value by scheme ($ billions), 2020-24e
    • Vietnam: credit cards in circulation by issuer (000s), 2020-24e
    • Vietnam: credit card transaction value by issuer (VND trillions), 2020-24e
    • Vietnam: credit card transaction value by issuer ($ millions), 2020-24e
    • Vietnam: credit cards in circulation (millions), 2020-28f
    • Vietnam: credit card transaction volume, 2020-28f
    • Vietnam: credit card transaction value (VND), 2020-28f
    • Vietnam: credit card transaction value ($), 2020-28f
    • Vietnam: credit cards in circulation by scheme (000s), 2020-24e
    • Vietnam: credit card transaction value by scheme (VND trillions), 2020-24e
    • Vietnam: credit card transaction value by scheme ($ billions), 2020-24e
    • Vietnam: prepaid cards in circulation (000s), 2020-28f
    • Vietnam: prepaid card transaction value (VND billions), 2020-28f
    • Vietnam: prepaid card transaction value ($ millions), 2020-28f

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