Vietnam has become a notable digital payment market in Southeast Asia. You see rising smartphone adoption, expanding internet access, and a young population that is comfortable with online services. This combination shapes how people pay both online and in person. It also means global merchants need a clear view of how payment behaviour varies across regions, age groups, and channels.
Vietnam’s payment landscape at a glance
The country’s financial system has expanded at an impressive speed. A decade ago, only a small part of the population held a formal account. Today, 87% of adults have bank accounts. Local banks and the State Bank of Vietnam continue to push for broader access, improved digital payment options, and steady upgrades to core infrastructure.
Recent figures show more than 204 million individual payment accounts and over 154 million bank cards in circulation. This gives you a picture of a market where e-wallets, mobile apps, and bank transfers rest on a strong base of financial inclusion.
Even with this growth, urban and rural areas show different usage patterns. City shoppers often choose QR codes, e-wallets, or cards. Rural communities still lean on cash for daily expenses and prefer cash on delivery when buying online. Patchy internet coverage and lower trust in remote payments also play a role. You can expect these gaps to narrow, but they remain part of the current reality.
How Vietnamese pay today: offline vs online
Offline payments cover a wide mix. Cash continues to appear at street stalls, markets, and small family-run shops. Alongside cash, QR codes, mobile payment apps, and bank cards have become common in many urban districts. You see shop counters showing MoMo or ZaloPay QR codes as frequently as card terminals.
Online payments look slightly different. Cash on delivery is still the top choice for many shoppers. Bank transfers follow closely, then cards, digital payment wallets, and buy-now-pay-later options. These habits reflect a wish to inspect goods before paying, a need for flexibility, and familiarity with established domestic systems.
Cash: Still widely used but shrinking
Cash remains part of daily spending for many people, especially in informal retail and rural communities. Street food vendors, local markets, and smaller merchants often prefer cash because it is straightforward and suits low-value transactions.
In e-commerce, cash on delivery remains influential. Surveys in recent years indicate that a large share of Vietnamese shoppers choose COD because they want to see and test products before paying. Trust, service visibility, and simple processes all contribute to this behaviour.
For merchants, cash handling brings some challenges. Failed deliveries, manual reconciliation, and higher risks during transport increase operational workload. Even so, COD continues to play a major role, so it remains part of the payment mix for many online sellers.
Bank transfers / account-to-account (A2A)
Bank transfers have surged as a preferred payment method in Vietnam. Real-time transfers through mobile or internet banking are now common. The national switch, NAPAS, supports rapid movement of funds round the clock. This gives buyers an easy way to pay online without needing a card.
A significant share of e-commerce revenue comes from bank transfers. Many shoppers select this method for large orders because it feels familiar, reliable, and secure. As more banking apps add QR codes, bill payment features, and simple transfer screens, you can expect this segment to stay steady.
Debit, credit, and prepaid cards
Most card spending in Vietnam happens through domestic debit cards. They link directly to salary or personal accounts and support a wide range of everyday purchases. Credit card penetration is lower compared to some neighbouring markets, though it is rising as incomes increase and more merchants accept cards.
The number of payment accounts and cards reflects strong demand. Recent figures show more than 138 million bank cards and over 1.8 million merchant acceptance points. Card usage turnover continues to grow as well, reaching trillions of Vietnamese dong each year. This growth gives you another reason to keep domestic debit cards in your checkout flow.
E-wallets and super-apps
Adoption and usage trends
E-wallets sit at the centre of Vietnam’s digital payment story. The market value has grown rapidly, reaching USD 41.6 billion in 2024. Smartphone adoption, e-commerce expansion, and simple onboarding all contribute to this momentum.
The number of mobile wallet users is projected to reach over 50 million in the coming years. Many people use more than one wallet. This is common because each wallet offers different benefits, such as cashback, loyalty points, or quick links to ride-hailing and delivery services.
Daily usage covers a wide set of transactions. People pay utility bills, top up mobile phones, buy groceries, book ride-hailing services, and settle restaurant bills using QR codes. Wallets have also become important for online shopping, especially for fashion, electronics, and digital products.
Leading e-wallets
Several e-wallets stand out as popular payment methods in Vietnam:
- MoMo: This is one of the most recognised wallets in the country. It is used both online and offline, with a strong presence in retail and everyday spending.
- ZaloPay: Linked to the Zalo messaging app, it fits easily into daily communication and supports P2P transfers, food delivery, and e-commerce purchases.
- ShopeePay: Strong within the Shopee marketplace. Shoppers often choose it for promotions and ease of payment.
- Viettel Money / ViettelPay: Backed by a major telco, it serves both urban and rural users and helps extend digital payment access across regions.
- VNPay: Known for QR codes at many stores. Its QR network appears widely across banks and merchants.
- Moca (GrabPay): Common for ride-hailing and food delivery through the Grab app.
QR code and contactless payments
QR code usage has risen sharply. More merchants accept QR payments each year. Supermarkets, cafés, and even small stalls show QR signs next to their counters. Strong support from the State Bank of Vietnam and local banks has helped this growth. Mobile payment apps use QR codes to keep transactions quick and straightforward.
VietQR and cross-border QR
VietQR, operated through NAPAS, provides a standard QR format that works across member banks and many wallets. It simplifies the experience for both buyers and merchants. Cross-border QR initiatives are growing across parts of Southeast Asia, giving travellers more familiar ways to pay.
You see QR payments used for low-value retail, food and beverage, transport, and peer-to-peer transfers. Government services and public payments are gradually adopting similar standards.
International cards and global wallets
International cards such as Visa and MasterCard still matter for higher-value online purchases, travel bookings, and digital subscriptions. Approval rates for these cards depend on acquiring routes and shopper behaviour, but they remain a key part of the payment method mix for global merchants.
International mobile payment options such as Apple Pay and Google Pay are also gaining visibility in major cities, mostly in retail chains or global brands. Some tourist-heavy areas also accept Alipay, though local payment methods continue to dominate for Vietnamese residents.
Newer alternatives
Buy now, pay later (BNPL)
BNPL usage has increased alongside e-commerce growth. Young shoppers see these services as a way to spread costs for electronics, fashion, and lifestyle goods. The market size has grown steadily year on year, with a forecast of USD 1.5 billion in 2026, giving merchants an extra option to reach customers who prefer instalments.
Prepaid cards and telco-based mobile money
Prepaid cards, digital wallets, and telco-backed services are growing in rural and lower-income areas. Solutions such as Viettel Money offer mobile money accounts that work without a traditional bank account. This helps close inclusion gaps and gives more people access to digital payment tools.
What this means for merchants targeting Vietnam
For local brick-and-mortar merchants
A balanced setup works best. You can keep cash on hand while adding QR codes, e-wallet acceptance, and domestic debit cards. These options reflect how urban customers pay today. Staff training and clear signage help customers feel comfortable using digital payment methods.
A simple checklist includes registering with a local payment partner or bank, enabling VietQR or VNPay QR codes, and keeping point-of-sale tools easy to navigate.
For cross-border e-commerce brands
When selling into Vietnam from overseas, consider the top choices customers expect. COD remains important if you manage local fulfilment. E-wallets such as MoMo, ZaloPay, and VNPay give customers familiar options at checkout. Domestic card routes help reduce friction and raise acceptance for higher-value orders.
BNPL can also help you reach younger customers who prefer instalments. You can test these methods alongside bank transfers to find the best mix.
Compliance and KYC points
Vietnam follows clear policies for digital payment security and data handling. The State Bank of Vietnam oversees licensing, anti-money laundering rules, and general payment standards. You should watch for local data rules, KYC requirements, and other regulatory expectations to maintain a secure and compliant setup.
Conclusion
Vietnam offers a wide mix of popular payment methods. Cash still appears in daily spending, especially in rural areas. Digital payment options continue to grow across cities, from QR codes to mobile payment apps and bank transfers. E-wallets play a central part in this shift. International cards, global wallets, and BNPL also contribute to a varied payment landscape.
By understanding these choices and preparing your payment method stack accordingly, you can support Vietnamese customers with familiar, trusted, and convenient ways to pay.
