More Vietnamese consumers embracing digital payments: Visa
Vietnamese consumers are embracing digital payments as a faster and more convenient way to pay, with consumers using their credit and debit cards more often for in-store and online purchases, digital payment methods provider Visa said recently.
More and more Vietnamese consumers are using digital payments. (Photo courtesy of Visa Vietnam)
HCM City (VNA) - Vietnamese consumers are embracing digitalpayments as a faster and more convenient way to pay, with consumers using theircredit and debit cards more often for in-store and onlinepurchases, digital payment methods provider Visa said recently.
Growth in consumer use of Visa products in 2018 indicates anumber of positive trends in the growth of digital payments, it said.
The 2018 Visa Consumer Payment Attitudes Study, which reveals the extent towhich digital payments are becoming a part of everyday life for Vietnameseconsumers, said: “The total value of purchases made by Vietnameseconsumers on their Visa credit and debit cards is up 37 percent, while thenumber of transactions is up by 25 percent. eCommerce in particular saw stronggrowth with the total value of purchases up by 40 percent.”
Dang Tuyet Dung, country manager for Visa Vietnam and Laos said: “Asthe Vietnamese economy grows and becomes increasingly internationalised,commerce here will require ever faster, more efficient ways of paying. Theserecent figures from our network demonstrate clearly the fact that digitalpayments are now truly a part of day-to-day life for many Vietnameseconsumers regardless of whether they’re buying from an online retailer onthe other side of the world or simply paying for their groceries.”
The report, which specifically looked into consumersentiments towards various forms of payment, found that Vietnameseconsumers are carrying less cash, and half are making card and mobilepayments at least two to three times a week.
Seventy-three percent of respondents are using credit and debit cards, up 59percent from the previous year, while 82 percent have tried makingtransactions on mobile phones.
The research also found that the use of new payment technologies is picking uptraction, with 44 percent of the respondents indicating that they are nowmaking payments through apps, while 32 percent are using contactlesspayment technologies that allow users to simplytap their cards on the terminal to pay.
Some 19 percent have used QR payments whe꧂re a phonescans a unique merchant code and transfers money to themerchant’s ac🔥count.
Dung added: “While digital payments are still in their relative youthin Vietnam, it’s been incredibly positive to see how consumers areembracing new payment technologies — it augurs well for these technologiesin particular, and for digital payments more broadly.”- VNA
Small and medium-sized enterprises (SMEs) are encouraged to promote brand building and e-commerce development to enhance competitiveness at a recent workshop on e-commerce in southern Can Tho City.
Embracing the digital transformation is critical for Vietnamese bankers in the era of Industry 4.0, experts said during the 2019 Asian Banker Conference in Hanoi on January 10.
Non-cash payments bring enormous benefits for individuals, banks and others, helping increase transparency while reducing social expenses relating to using cash.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
More and more Vietnamese consumers are using digital payments. (Photo courtesy of Visa Vietnam) 
