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