Dublin, May 23, 2025 (GLOBE NEWSWIRE) -- The "Vietnam Cards and Payments: Opportunities and Risks to 2028" has been added to ResearchAndMarkets.com's offering.
The report offers an extensive analysis of the evolving dynamics in Vietnam's cards and payments industry. Focusing on key performance indicators, including cash, credit transfers, and cards, this report covers values and volumes for the 2020-2024 review period and forecasts for 2024-2028, providing a comprehensive view of market trends and opportunities.
Market Insights:
- Explore current and forecasted values for various market segments, including debit and credit cards.
- Gain insights into payment instruments like cash, credit transfers, direct debits, and cheques, alongside an overview of alternative payment methods.
- Examine the Vietnamese ecommerce landscape and its influence on payment methods.
- Understand regulatory policies shaping market dynamics and consumer financial services.
- Explore strategies implemented by banks and other institutions to promote debit and credit cards.
- Delve into consumer attitudes and preferences toward card usage.
- Analyse the competitive landscape, highlighting leading issuers and schemes.
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.
Report Scope:
- Understand card market size concerning the number of cards, transaction value, and volume, with detailed segmentation across debit and credit cards.
- Assess market sizing and trends for key payment instruments.
- Identify market growth patterns and competitive strategies among leading card issuers.
- Explore in-depth consumer preferences and attitudes toward card payments.
- Examine alternative payment brands shaping the financial landscape.
Reasons to Buy:
- Make informed strategic decisions using comprehensive market data.
- Identify growth opportunities in the Vietnamese cards and payments sector.
- Evaluate competitive dynamics and strategic marketing approaches.
- Gain regulatory insights to better navigate the industry framework.
Key Topics Covered:
- Executive Summary
- Market Overview
- Payment Instruments
- Card-Based Payments
- Alternative Payments
- Payment Innovation
- Job Analysis
- Payment Infrastructure and Regulation
Company Coverage:
- VietinBank
- Agribank
- BIDV
- Vietcombank
- DongA Bank
- Techcombank
- ACB
- Eximbank
- American Express
- Visa
- Mastercard
- NAPAS
For more information about this report visit https://www.researchandmarkets.com/r/epek6t
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