Payment Solutions in Vietnam

Territories - Asia

Embracing digital payments, driving Vietnam’s economic growth

One of the world's fastest-growing economies

Vietnam’s payment scene is rapidly evolving, with a growing shift from traditional cash transactions to digital and alternative payment methods. As of 2023, about 45% of Vietnamese consumers used digital payments regularly, driven by the rise of eWallets, QR code payments, and mobile banking. Cash still plays a significant role, particularly in rural areas, but urban centers are seeing a surge in electronic payments, fueled by the government’s push towards a cashless society. For businesses, offering a mix of traditional and alternative payment options is essential to cater to diverse consumer preferences and tap into Vietnam’s expanding eCommerce market.

Market Overview

Population

100.9 million
Online Population

78.4 million
Currency

VND

e-Commerce Market Value

$13.9 billion
GDP

$453.3 billion
GDP per Capita

$4,623

Available Payment Methods

UBank Connect offers a comprehensive suite of payment solutions in Vietnam, including Bank Transfer, QR Code, MoMo, Viettel Pay, and Zalo Pay. These diverse payment options cater to the varied preferences of consumers, making transactions simple and accessible. For businesses, our solutions ensure seamless and secure payment processing, enhancing customer satisfaction and boosting operational efficiency. Whether you’re a retailer, service provider, or eCommerce platform, UBank Connect provides the tools you need to thrive in Vietnam’s rapidly evolving digital economy.

Our payment solutions are designed to benefit both consumers and businesses. Consumers enjoy the convenience of using their preferred payment methods, while businesses can capitalize on faster transactions, improved cash flow, and reduced payment friction. With UBank Connect, you can easily expand your reach and drive growth in Vietnam. Ready to optimize your payment processes? Discover the advantages of partnering with UBank Connect today!

Why choose UBank Connect?

Direct connection to banks
Dedicated bank account(s)
Local technology and operations team
Flexible and competitive rates
Global reach with a single API access
Support in emerging markets

Key Takeaways

Vietnam’s eCommerce sector has seen exponential growth, with the market expected to reach $39 billion by 2025, up from $13 billion in 2020. The rise in online shopping has driven the demand for diverse and secure payment methods, with consumers increasingly favoring digital payments over cash.
Approximately 74% of Vietnamese consumers now prefer cashless transactions, a significant increase fueled by the pandemic and the rise of mobile wallets like MoMo, Viettel Pay, and Zalo Pay. QR Code payments are also gaining traction, reflecting a broader shift towards contactless and digital payment solutions.
Traditional businesses in Vietnam are rapidly adopting modern payment methods to stay competitive. While cash remains a significant payment method in rural areas, urban businesses are integrating digital solutions, with over 40% of small and medium enterprises (SMEs) now offering mobile wallet payments to attract tech-savvy consumers.

Get started today!

Discover how UBank Connect can enhance your payment solutions in Vietnam. Contact us today to learn more about how we can support your business. Let’s connect and take your payment processes to the next level.

Territories - Asia

Embracing digital payments, driving Vietnam’s economic growth

One of the world's fastest-growing economies

Market Overview

Population

Online Population

Currency

e-Commerce Market Value

GDP

GDP per Capita

Available Payment Methods

Why choose UBank Connect?

Key Takeaways

Get started today!

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