The Vietnam mobile payment market reached approximately USD 37.80 Billion in 2024. The market is projected to grow at a CAGR of 9.60% between 2025 and 2034, reaching a value of around USD 94.54 Billion by 2034.
Base Year
Historical Year
Forecast Year
The State Bank of Vietnam reported that between 2021 and 2023, online and mobile payment transactions increased by 52% and 103%, respectively. The number of QR code payments alone increased by over 170%.
In January 2023, it was estimated that there were 4.7 million more mobile connections in Vietnam than in 2022 which was 164% of the country's total population.
Vietnam is one of the few nations showing gender parity in internet usage and digital skills.
Value in USD Billion
2025-2034
Vietnam Mobile Payment Market Outlook
*this image is indicative*
| Vietnam Mobile Payment Market Report Summary | Description | Value |
| Base Year | USD Billion | 2024 |
| Historical Period | USD Billion | 2018-2024 |
| Forecast Period | USD Billion | 2025-2034 |
| Market Size 2024 | USD Billion | 37.80 |
| Market Size 2034 | USD Billion | 94.54 |
| CAGR 2018-2024 | Percentage | XX% |
| CAGR 2025-2034 | Percentage | 9.60% |
| CAGR 2025-2034 - Market by Region | Southeast | 10.6% |
| CAGR 2025-2034 - Market by Region | South Central Coast | 9.3% |
| CAGR 2025-2034 - Market by Transaction Mode | Near Field Communication | 10.4% |
| CAGR 2025-2034 - Market by End Use | Personal | 8.7% |
| Market Share by Region | Red River Delta | 27.3% |
Vietnam's adoption of smartphones has significantly increased as a result of their widespread affordability. Moreover, the National Digital Transformation Programme, which will be implemented by 2025, aims to quicken the nation's digital transition. By the end of 2025, it is anticipated that Vietnam's digital commerce will generate transaction values of $19.5 million, leading to the expansion of Vietnam's mobile and online payment transactions.
In Vietnam, rising card payments and QR Code transfers are driving the trend toward cashless transactions. Notable developments in digital payment services and infrastructure are facilitating this transition successfully. The nation's financial institutions are making significant efforts to ensure security and encourage digital payments. For instance, in June 2024, the State Bank of Vietnam instructed commercial banks to make a mandatory biometric verification policy. Starting on July 1st 2024, biometric verification of facial recognition is necessary for completing online banking transactions of 10 million VND (USD 391) or more, in accordance with the policy on implementing security solutions in online payments and bank card payments. The State Bank of Vietnam reported that 60 financial institutions adopted customer verification through in-branch chip-based ID cards, 49 through mobile apps, and 22 through the VNeID electronic identity application.
“Vietnam Mobile Payment Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Transaction Mode
Market Breakup by Purchase Type
Market Breakup by Application
Market Breakup by End Use
Market Breakup by Region
| CAGR 2025-2034 - Market by | Transaction Mode |
| Near Field Communication | 10.4% |
| SMS Direct Carrier Billing | 9.1% |
| Mobile Web Payments | XX% |
| Others | XX% |
| CAGR 2025-2034 - Market by | End Use |
| Personal | 8.7% |
| Business | XX% |
| CAGR 2025-2034 - Market by | Region |
| Southeast | 10.6% |
| South Central Coast | 9.3% |
| Red River Delta | XX% |
| Mekong River Delta | XX% |
| Others | XX% |
| Market Share by | Region |
| Red River Delta | 27.3% |
| Southeast | XX% |
| Mekong River Delta | XX% |
| South Central Coast | XX% |
| Others | XX% |
Based on transaction mode, the market is segmented into mobile web payments, near field communication, and SMS direct carrier billing, among others. The near field communication type is projected to grow at a CAGR of 10.4% during the forecast period of 2025-2034. Short-range wireless communication between two devices is made possible by the technology of near field communication, or NFC.
Major players are focusing on the adoption of advanced technologies to gain a competitive edge in the market.
Vietnam Mobile Payment Market Size
Vietnam Mobile Payment Market Growth
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2024, the market reached an approximate value of USD 37.80 Billion.
The market is estimated to grow at a CAGR of 9.60% between 2025 and 2034.
The market is estimated to witness a healthy growth during 2025-2034 to reach around USD 94.54 Billion by 2034.
The market is being driven by increased smartphone penetration and growing digital literacy.
The key trends aiding the mobile payment market in Vietnam include rising financial inclusion in the economy and rapid digitalisation.
The major regions considered in the market are Southeast, Red River Delta, Mekong River Delta, and South Central Coast, among others.
The different end uses of mobile payment include personal and business.
The major players in the market are ONLINE MOBILE SERVICES JOINT STOCK COMPANY, ZION Joint Stock Company, Moca Inc., VNPAY, and Viettel Digital, among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2024 |
| Historical Period | 2018-2024 |
| Forecast Period | 2025-2034 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Transaction Mode |
|
| Breakup by Purchase Type |
|
| Breakup by Application |
|
| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
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| Companies Covered |
|
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Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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