Vietnam E-Wallet Market 2022-2027: Size, Share, Growth, Analysis, Trends and Forecast

According to IMARC Group's latest report, titled "Vietnam E-Wallet Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the Vietnam E-wallet market is expected to exhibit a CAGR of 14.8% during 2022-2027.

An electronic wallet, or e-wallet, refers to a software-based system that allows -consumers to securely store payment information and digitally conduct financial transactions. It is linked with individual bank accounts to make payments for various applications, such as online shopping, booking travel tickets, and paying utility bills. As compared to traditional payment methods, e-wallets provide easier operational facilities, encryption of data, and more secured transactions.

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Market Trends

Significant growth in the e-commerce industry, the proliferation of smart devices, and an increasing shift towards digital payment methods are majorly driving the e-wallet market in Vietnam. Additionally, the integration of quick response (QR) code and near field communication (NFC) chips into start devices to eliminate the possibility of human errors are further contributing to the market growth. The frequent occurrences of fraudulent activities have led leading players to introduce multi-factor authentication solutions, such as fingerprint and facial recognition, which are acting as a growth-inducing factor in the country.

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List of Key Companies Covered in this Market Report:

MOCA System Inc.
M-Pay Technology and Trading Service Joint Stock Company
Vietnam Payment Solution Joint Stock Company (VNPAY)
VinID Pay (Vingroup)
VNPT Electronic Payment Joint Stock Company
ZaloPay (ZION Joint Stock Company)

Breakup by Type:

Open
Semi-Closed
Closed

Breakup by Ownership:

Banks
Telecom Companies
Device Manufacturers
Tech Companies

Breakup by Technology:

Near Field Communication
Optical/QR Code
Digital Only
Text-Based

Breakup by Vertical:

Retail
Transportation
Media and Entertainment
Energy & Utilities
Telecommunication
Others

Key highlights of the report:

Market Performance (2016-2021)
Market Outlook (2022- 2027)
Porter's Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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This release was published on openPR.