Vietnam has traditionally been a cash-heavy economy.
However, digital payment adoption has surged, driven by:
- Government programmes to encourage digital payment adoption
- Widespread QR code payment usage powered mainly via VietQR
- Strong usage of mobile wallets, which are projected to be Vietnam's top online payment method by 2028
In 2023:
82% of all ecommerce transactions in Vietnam were made using digital payments.
By 2028:
Vietnam's ecommerce market is projected to be the second largest in SEA at US$ 56 billion.
99% of ecommerce transactions are expected to be made using digital payments.