Press release
Vietnam Mobile Wallet Market 2025 Edition: Industry Size to Reach USD 12,374.3 Million by 2033, CAGR of 35.9%
According to IMARC Group's report titled "Vietnam Mobile Wallet Market Report by Type (Proximity, Remote), Application (Retail, Hospitality and Transportation, Telecommunication, Healthcare, and Others), and Region 2025-2033", The report offers a comprehensive analysis of the industry, including market share, growth, trends, and regional insights.
How Big is the Vietnam Mobile Wallet Industry?
The Vietnam mobile wallet market size was valued at USD 782.4 Million in 2024 and is projected to grow to USD 12,374.3 Million by 2033, with an expected compound annual growth rate (CAGR) of 35.9% from 2025 to 2033.
Market Dynamics of Vietnam Mobile Wallet Market:
1. Rapid Adoption of Digital Payments Drives Vietnam Mobile Wallet Market Share Growth
Because of the widespread adoption of digital payment methods in both urban and rural communities, the Vietnam mobile wallet market share has grown sharply. Young and technologically enabled with a growing number of smartphone users have helped mobile wallets such as MoMo, ZaloPay, and ViettelPay to build momentum. According to industry reports, Vietnam's mobile wallet market share has grown at over 25% CAGR in the last several years given cashless transactions promoted by the Japanese government and growing e-commerce in Vietnam. The ability to transfer funds peer-to-peer, pay bills and use QR codes, all while exposing mobile wallets to the non-banking population has helped accelerate adoption. There is an increasing number of fintech partnerships with merchants, fueling even further the use of mobile wallets, which in turn helps for market share in Southeast Asia. As consumers go from traditional banks to digital wallets, competition will grow as local and international players compete for a greater Vietnam mobile wallet market share.
2. Competitive Landscape and Strategic Alliances Shape Vietnam Mobile Wallet Market Share
In Vietnam, market share in the mobile wallet space is very competitive, with the major players leveraging partnerships to develop a stronger market share. MoMo continues to be the largest player in the Vietnam mobile wallet market share by linking to banks, retailers, and ride-hailing services to expand its ecosystem. ZaloPay benefits from integration with the ubiquitous messaging app Zalo, which allows for social-commerce transactions to be streamlined through a unified experience. International competitors such as GrabPay and AirPay are competing aggressively with integrated solutions designed for the under-banked. Additionally, collaborations between financial technology companies and telecom companies like ViettelPay, wherein bundled services offer a greater opportunity for the mobile wallet market, will drive growth as adoption improves. Partnerships will support user acquisition, as well as retention, and while partnerships will continue to emerge with increasing competition, differentiating based on a better UX, a loyalty program, and engaging un-banked consumers will be crucial to sustaining or increasing each firms overall mobile wallet market share in Vietnam.
3. Regulatory Support and Financial Inclusion Boost Vietnam Mobile Wallet Market Share
The expansion of the market share in Vietnam's mobile wallets is closely linked with government policies and regulatory support. The State Bank of Vietnam has promoted a cashless economy with policies in line with the National Digital Transformation Program and the direction of the government. Regulatory sandboxes for fintech firms provide them the opportunity to innovate with limited risk, ultimately building consumer trust. Mobile wallets have also addressed the financial inclusion gap by providing previously unbanked populations with access to digital payments, microloans, and insurance services, having a major impact on the market share expansion of mobile wallets in Vietnam. Financial inclusion through mobile wallets has been especially pronounced in rural areas that often do not have traditional banking infrastructure. Overall, the regulatory support and consumer trust will continue to cultivate market share growth in mobile wallets in Vietnam, securing growth in the future and in the regional digital payment ecosystem.
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Vietnam Mobile Wallet Market Trends:
The Vietnam mobile wallet market is changing with new trends that reshape digital payment experiences. Consumer expectations for speed and security are making contactless payments and QR code payments commonplace. Super-app integrations, where wallets also provide services such as shopping, food delivery or travel bookings, are becoming more popular and engaging to users.
AI and machine learning are being used for fraud detection and personalized financial recommendations, increasing trust and retention. Cross-border payment solutions are also growing to enable better payments for Vietnam's increasing international trade and remittance flows. Sustainability is becoming part of this movement, with eco-friendly digital payment incentives gaining traction. Continuing fintech innovation means these trends will support the next chapter of growth and keep Vietnam at the center of mobile wallet adoption in Southeast Asia.
Vietnam Mobile Wallet Market Segmentation:
The market report offers a comprehensive analysis of the segments, highlighting those with the largest Vietnam mobile wallet market share. It includes forecasts for the period 2025-2033 and historical data from 2019-2024 for the following segments.
Type Insights:
• Proximity
• Remote
Application Insights:
• Retail
• Hospitality and Transportation
• Telecommunication
• Healthcare
• Others
Regional Analysis:
• Northern Vietnam
• Central Vietnam
• Southern Vietnam
Speak to Analyst or Any Inquiry, Before Buying the Report: https://www.imarcgroup.com/request?type=report&id=19847&flag=C
Other key areas covered in the report:
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Strategic Recommendations
• Market Dynamics
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape
• Top Winning Strategies
• Recent Industry News
• Key Technological Trends & Development
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• Europe Used Car Market: https://www.imarcgroup.com/europe-used-car-market/requestsample
• Vietnam Biotechnology Market: https://www.imarcgroup.com/vietnam-biotechnology-market/requestsample
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group
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IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services.
IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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