Press release
Vietnam E-Wallet Market Report 2024, Industry Trends, Size and Forecast Till 2032
๐ ๐๐๐ญ๐จ๐ซ๐ฌ ๐๐๐๐๐๐ญ๐ข๐ง๐ ๐ญ๐ก๐ ๐๐ซ๐จ๐ฐ๐ญ๐ก ๐จ๐ ๐ญ๐ก๐ ๐๐ข๐๐ญ๐ง๐๐ฆ ๐-๐๐๐ฅ๐ฅ๐๐ญ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ:
โข ๐๐ง๐๐ซ๐๐๐ฌ๐ข๐ง๐ ๐๐ฆ๐๐ซ๐ญ๐ฉ๐ก๐จ๐ง๐ ๐๐๐ง๐๐ญ๐ซ๐๐ญ๐ข๐จ๐ง:
Vietnam's e-wallet market is significantly driven by the rising penetration of smartphones. With over 70% of the population owning a smartphone, access to digital payment platforms has become widespread. The convenience of managing transactions through mobile devices has led to a consumer shift toward cashless payments. This change is particularly evident among the younger, tech-savvy generation, who are quick to adopt new technologies. The integration of e-wallets in everyday apps like social media and e-commerce platforms further accelerates this trend.
โข ๐๐ซ๐จ๐ฐ๐ญ๐ก ๐จ๐ ๐-๐๐จ๐ฆ๐ฆ๐๐ซ๐๐:
The surge in e-commerce activity in Vietnam is a key catalyst for the growth of the E-Wallet market. As more consumers turn to online platforms for shopping, the demand for convenient and secure digital payment solutions increases. E-wallets provide a seamless payment experience, integrating with various e-commerce platforms to offer a one-click payment solution. This integration enhances the consumer experience and boosts sales for e-commerce businesses. This trend is further bolstered by partnerships between E-Wallet providers and e-commerce platforms, offering consumers seamless payment experiences. With the convenience of integrated payment solutions, E-Wallets are becoming an essential tool for online transactions, thereby driving their market growth.
โข ๐๐๐๐ก๐ง๐จ๐ฅ๐จ๐ ๐ข๐๐๐ฅ ๐๐๐ฏ๐๐ง๐๐๐ฆ๐๐ง๐ญ๐ฌ:
Continuous technological advancements and innovations in the digital payment sector are propelling the e-wallet market in Vietnam. Innovations in security features, user interface, and integration capabilities make E-wallets more appealing to users. Enhanced security protocols, such as biometric authentication and encryption, build user trust in digital transactions. Furthermore, the integration of e-wallets with other services like transportation, utility payments, and loyalty programs enhances user experience, thereby encouraging more consumers to adopt e-wallets for their daily transactions, which in turn is propelling the market growth.
๐๐๐๐๐ข๐ง๐ ๐๐จ๐ฆ๐ฉ๐๐ง๐ข๐๐ฌ ๐๐ฉ๐๐ซ๐๐ญ๐ข๐ง๐ ๐ข๐ง ๐ญ๐ก๐ ๐๐ข๐๐ญ๐ง๐๐ฆ ๐-๐๐๐ฅ๐ฅ๐๐ญ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ:
โข MOCA System Inc.
โข M-Pay Technology and Trading Service Joint Stock Company
โข Vietnam Payment Solution Joint Stock Company (VNPAY)
โข VinID Pay (Vingroup)
โข VNPT Electronic Payment Joint Stock Company
โข ZaloPay (ZION Joint Stock Company).
๐ ๐จ๐ซ ๐๐ง ๐ข๐ง-๐๐๐ฉ๐ญ๐ก ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ, ๐ฒ๐จ๐ฎ ๐๐๐ง ๐ซ๐๐๐๐ซ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐ญ๐ก๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ: https://www.imarcgroup.com/vietnam-e-wallet-market/requestsample
๐๐ข๐๐ญ๐ง๐๐ฆ ๐-๐๐๐ฅ๐ฅ๐๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง:
๐๐ฒ ๐๐ฒ๐ฉ๐:โฏ
โข Open
โข Semi-Closed
โข Closed
Open wallets dominate the market as their user-friendly interface and ease of use have attracted a significant number of customers.
๐๐ฒ ๐๐ฐ๐ง๐๐ซ๐ฌ๐ก๐ข๐ฉ:
โข Banks
โข Telecom Companies
โข Device Manufacturers
โข Tech Companies
On the basis of ownership, the market is divided into banks, telecom companies, device manufacturers, and tech companies.
๐๐ฒ ๐๐๐๐ก๐ง๐จ๐ฅ๐จ๐ ๐ฒ:
โข Near Field Communication
โข Optical/QR Code
โข Digital Only
โข Text-Based
Based on technology, the market is divided into near field communication, optical/QR code, digital only, and text-based.
๐๐ฒ ๐๐๐ซ๐ญ๐ข๐๐๐ฅ:
โข Retail
โข Transportation
โข Media and Entertainment
โข Energy & Utilities
โข Telecommunication
โข Others
Retail sector account for the largest market share as retail sector has experienced significant growth, with the proliferation of shopping malls, supermarkets, convenience stores, and e-commerce platforms.
๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ ๐ ๐ฎ๐ฅ๐ฅ ๐๐๐ฉ๐จ๐ซ๐ญ ๐ฐ๐ข๐ญ๐ก ๐๐๐: https://www.imarcgroup.com/vietnam-e-wallet-market
๐๐ข๐๐ญ๐ง๐๐ฆ ๐-๐๐๐ฅ๐ฅ๐๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐๐ง๐๐ฌ:
QR code payments have become increasingly popular in Vietnam. Users can make payments by scanning QR codes at retail stores, restaurants, and even street vendors, making it convenient and widely accepted. Besides, e-wallet providers are expanding their services beyond payments. Many now offer features like money transfers, bill payments, savings accounts, and even microloans, making e-wallets more attractive to a broader range of users. Moreover, some e-wallet providers are partnering with traditional banks to offer more comprehensive financial services. These collaborations bridge the gap between digital and traditional banking services.
๐๐จ๐ญ๐: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
๐๐จ๐ง๐ญ๐๐๐ญ ๐๐ฌ:
IMARC Group
Email: sales@imarcgroup.com
USA: +1-631-791-1145 | Asia: +91-120-433-0800
Address: 134 N 4th St. Brooklyn, NY 11249, USA
Follow us on Twitter: @imarcglobal
๐๐๐จ๐ฎ๐ญ ๐๐ฌ:
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.
IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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