Vietnam Prepaid Card and Digital Wallet Business and Investment Opportunities Databook – Market Size and Forecast, Consumer Attitude & Behaviour, Retail Spend

Vietnam Prepaid Card and Digital Wallet Business and Investment Opportunities Databook – Market Size and Forecast, Consumer Attitude & Behaviour, Retail Spend

Report Description

According to PayNXT360, the prepaid card market (value terms) in Vietnam increased at a CAGR of 20.9% during 2017-2021. Over the forecast period of 2022 to 2026, the market is expected to record a CAGR of 27.1%, increasing from US$3.46 billion in 2022 to reach US$9.03 billion by 2026.

Mobile payment companies are partnering with banks to launch prepaid cards in the country

The rapid behavioral change amongst the Vietnamese millennials during the pandemic resulted in a drastic change in the digital payments platform in the country. Vietnam witnessed a few partnerships between the mobile payment service providers and the banking platforms to bring prepaid solutions to the market. For instance,
In January 2021, UnionPay International (UPI) issued 600,000 virtual cards with online transactions and QR Code payment facilities in cooperation with the Military Commercial Joint Stock Bank (Military Bank) in Vietnam.
These virtual cards can also be applied from the mobile app of Military Bank and can be used to pay via QR code at more than 40,000 local merchants.
Moreover, this card, together with the app, can be used by the resident while traveling internationally.

Digital wallets are raising funds to introduce super apps in Vietnam

In Vietnam, more than 40 e-wallet providers are operating and fighting for market share in one of the fastest-growing digital economies. Consequently, established companies are pushing for super apps while raising funds to support their growth in Vietnam. For instance,
In January 2021, MoMo, a digital wallet provider in the country, secured US$100 million in its Series D funding round. The prepaid payment instrument is planning to leverage the fund to build a new super app platform and enhance its ecosystem that is currently serving more than 25 million users.
As of September 2021, the firm claims to have 60% of the mobile payments market in Vietnam. Being the most significant digital wallet by user base, the prepaid payment instrument enables users to process financial services, including local money transfers, bill payments, loan payments, and purchase other services, such as movie tickets, through its mobile wallet.

GoJek launched prepaid payment instrument for consumers in Vietnam

An increasing number of consumers are demanding prepaid payment instruments from the Indonesian ride-hailing giant in Vietnam. Looking at this growing demand and to compete against other prepaid payment instrument in the region, the leading digital wallet service in Indonesia is now expanding its mobile wallet in Vietnam.
In May 2021, GoJek announced that the firm is planning to soon introduce car-hailing and e-payments solutions to its operation in Vietnam. Currently, consumers in the region can use various services of GoJek, such as food ordering, shipping parcels, and booking motorbike rides. Notably, the launch of GoJek's prepaid payment instrument will help the firm in competing with its rival Grab, who already provides consumers with a digital wallet, Moca, in Vietnam.
At first, consumers in the country can only use the prepaid payment instrument to pay for rides, but the firm is expected to roll out the digital wallet for other services as well over the medium term. With commuting returning to pre-pandemic levels in the country, this launch of digital wallet service for rides will support the growth of the prepaid card industry in Vietnam over the next four to eight quarters.

This report provides a detailed data centric analysis of prepaid payment instruments, covering spend through prepaid cards and digital wallets across retail and corporate consumer segments. In addition, it provides a snapshot of consumer behaviour and retail spend dynamics in Vietnam. With over 100 KPIs at country level, this report provides comprehensive understanding of prepaid card and digital wallet card market dynamics.
Market dynamics: Provides a comprehensive view on size and structure, industry dynamics, market trends, consumer attitude and behaviour, and competitive landscape in prepaid card and digital wallet industry in Vietnam.
Digital wallet segments: Provides value, volume and average value per transaction across 5 key spend categories in digital wallet. This includes retail, travel, entertainment and gaming, restaurant, and recharge and bill payment.
Open loop and closed loop prepaid cards: market estimates and forecasts to assess opportunities 13 open loop and closed loop prepaid market segments. Details four essential KPIs – number of cards in circulation, number of transactions, load value, and value of transactions.
Consumer attitude and behaviour: Drawing from proprietary survey results, this report identifies and interprets key prepaid KPIs, including spend by age, gender, and income level.
Retail spend: Breaks down retail spend across 11 categories to provide detailed insights on consumer behaviour and changing dynamics of prepaid card spend.

Scope

This report provides a detailed data centric analysis of prepaid payment instruments, covering spend through prepaid cards and digital wallets across retail and corporate consumer segments. In addition, it provides a snapshot of consumer behaviour and retail spend dynamics in Vietnam. With over 100 KPIs at country level, this report provides comprehensive understanding of prepaid card and digital wallet card market dynamics.

Vietnam Digital Wallet Market Size and Forecast
Transaction Value Trend Analysis
Transaction Volume Trend Analysis
Average Value per Transaction

Vietnam Digital Wallet Market Size and Forecast by Key Segments
Retail Shopping (Value, Volume, Avg. Value)
Travel (Value, Volume, Avg. Value)
Entertainment and Gaming (Value, Volume, Avg. Value)
Restaurant (Value, Volume, Avg. Value)
Recharge and Bill Payment (Value, Volume, Avg. Value)

Vietnam Prepaid Card Industry Market Attractiveness
Load Value Trend Analysis
Transaction Value Trend Analysis
Transaction Volume Trend Analysis
Average Value per Transaction
Number of Cards

Market Share Analysis by Functional Attributes – Open Loop vs. Closed Loop, 2016 – 2025

Market Share Analysis by Prepaid Card Categories

Vietnam Open Loop Prepaid Card Future Growth Dynamics, 2016 – 2025
Transaction Value Trend Analysis
Transaction Volume Trend Analysis
Average Value per Transaction
Number of Cards

Vietnam Closed Loop Prepaid Card Future Growth Dynamics, 2016 – 2025
Transaction Value Trend Analysis
Transaction Volume Trend Analysis
Average Value per Transaction
Number of Cards

Vietnam Prepaid Card Consumer Usage Trends
By Age Group
By Income Group
By Gender

Vietnam General Purpose Prepaid Card Market Size and Forecast

Vietnam Gift Card Market Size and Forecast
Gift Card Market Size and Forecast by Functional Attribute
By Open Loop Gift Card
By Closed Loop Gift Card
Gift Card Market Size and Forecast by Consumer Segments
By Retail Consumer Segment
By Corporate Consumer Segment
Gift Card Market Share Analysis by Retail Categories
Gift Card Market Share Analysis by Gifting Occasion
Gift Card Market Share Analysis by Purchase Location

Vietnam Entertainment and Gaming Prepaid Card Market Size and Forecast

Vietnam Teen and Campus Prepaid Card Market Size and Forecast
Teen and Campus Prepaid Card Market Size and Forecast by Functional Attribute
By Open Loop Teen and Campus Prepaid Card
By Closed Loop Teen and Campus Prepaid Card

Vietnam Business and Administrative Expense Prepaid Card Market Size and Forecast
Business and Administrative Expense Prepaid Card Market Size and Forecast by Consumer Segments
By Small Scale Business Segment
By Mid-Tier Business Segment
By Enterprise Business Segment
By Government Segment

Vietnam Payroll Prepaid Card Market Size and Forecast
Payroll Prepaid Card Market Size and Forecast by Consumer Segments
By Small Scale Business Segment
By Mid-Tier Business Segment
By Enterprise Business Segment
By Government Segment

Vietnam Meal Prepaid Card Market Size and Forecast
Meal Prepaid Card Market Size and Forecast by Consumer Segments
By Small Scale Business Segment
By Mid-Tier Business Segment
By Enterprise Business Segment
By Government Segment

Vietnam Travel Forex Prepaid Card Market Size and Forecast
Travel Forex Prepaid Card Market Size and Forecast by Consumer Segments
By Retail
By Small Scale Business Segment
By Mid-Tier Business Segment
By Enterprise Business Segment
By Government Segment

Vietnam Transit and Tolls Prepaid Card Market Size and Forecast

Vietnam Healthcare and Wellness Prepaid Card Market Size and Forecast

Vietnam Social Security and Other Government Benefit Programs Prepaid Card Market Size and Forecast

Vietnam Fuel Prepaid Cards Market Size and Forecast

Vietnam Utilities, and Other Prepaid Cards Market Size and Forecast

Reasons to buy
In-depth understanding of prepaid card and digital wallet market dynamics: Understand market opportunity, industry dynamics, key trends and drivers across 75+ market segments and sub-segments of prepaid payment instrument in Vietnam.
Develop market specific strategies: Identify growth segments and target specific opportunities to formulate your prepaid card and digital wallet strategy; assess market specific key trends, drivers and risks in the industry.
Get insights into consumer attitude and behaviour: Understand changing consumer attitude and behaviour and boost ROI. Get detailed insights into retail spend through prepaid cards and digital wallets. Show more