Vietnam Mobile Payment Market is expected grow at a CAGR of 18.2% due to increase in penetration of smartphones, growth of the m-commerce industry and the development of the FinTech & payment industry.

Mobile payment refers to the payment for goods or services or transfer of money through mobiles or smartphones. The mobile payment market in Vietnam has been growing at a rapid rate, and is expected to maintain this trend during the forecast period. As the use of mobile is predominant, mobile payments serve as a prime choice for low-value payments.

Moreover, mobile phones act as an ideal alternative for payments in unattended areas, such as parking lots and vending machines, providing a more secure, less costly, and faster means to handle such payments. The Vietnam mobile payment market size was valued at $16,054 million in 2016, and is projected to reach at $70,937 million by 2025, growing at a CAGR of 18.2% from 2018 to 2025.

Get sample Report: https://www.alliedmarketresearch.com/request-sample/4780?utm_source=openpr_Niranjan

Changes in customer preference from cash to digital payments, surge in need for immediate transactions in Vietnam, increased penetration of internet and smartphones, and growth of the e-commerce industry majorly contribute towards the growth of the market. However, data breaches & security concerns are expected to hamper the Vietnam mobile payment market growth.

Based on type, the remote payment segment dominated the Vietnam mobile payment market in 2016, and is expected to continue this trend during the forecast period, owing to extensive use of this payment method across various sectors such as IT, retail, telecommunications, hospitality, healthcare, and others. Furthermore, the proximity payment segment is expected to grow at the highest CAGR during the forecast period, owing to rising adoption of mobile point of sale (mPOS) solutions among small- and medium-sized businesses in Vietnam.

Purchase Report: https://www.alliedmarketresearch.com/checkout/791594?utm_source=openpr_Niranjan

The Vietnam mobile payment market was led by the retail segment in 2016, and is projected to maintain its dominance during the forecast period. However, the hospitality & tourism segment is expected to witness the highest growth, as large number of consumers in Vietnam have been doing transportation reservations such as hotels, flights, and railway tickets through apps, mobiles, or websites.

Key Findings of the Vietnam Mobile Payment Market :
By type of purchase, the travel and ticketing segment is expected to exhibit significant growth in the Vietnam mobile payment market during the forecast period. In 2016, the personal segment accounted for the highest revenue among the end user category. Based on type, the remote payment segment generated the highest revenue in 2016. As per mode of transaction, the near-field communication segment is anticipated to exhibit substantial growth during the forecast period.

Some of the key market players profiled in the report include Mobivi, NganLuong, OnePay, Smartlink, Orange S.A., PayPal Holdings, Inc., Payoo, MOMO, 123Pay, and SohaPay.

About Us:-

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact Us:-

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

This release was published on openPR.