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Vietnam prepaid card, digital wallet market report 2025 available
Monday, July 07, 2025 — 16:15:59 (UTC)
Dublin, July 07, 2025 (GLOBE NEWSWIRE) -- The "Vietnam Prepaid Card and Digital Wallet Market Intelligence and Future Growth Dynamics Databook - Q2 2025 Update" report has been added to ResearchAndMarkets.com's offering.
The prepaid card and digital wallet market in Vietnam is expected to grow by 26.6% on annual basis to reach US$ 7.19 billion in 2025. Vietnam's prepaid card and digital wallet market has experienced robust growth during 2020-2024, achieving a CAGR of 30.7%. This upward trajectory is expected to continue, with the market forecast to grow at a CAGR of 23.1% during 2025-2029. By the end of 2029, the prepaid card and digital wallet market is projected to expand from its 2024 value of US$ 5.68 billion to approximately US$ 16.52 billion.
Key Trends and Drivers in the Vietnam Prepaid Cards Sector
The prepaid card market in Vietnam is set for continued expansion, driven by increasing digital payment adoption, deeper integration with digital wallets, and the rise of domestic prepaid card programs. As e-commerce continues to grow and the government pushes for a cashless economy, prepaid cards will play an increasingly important role in providing secure and efficient payment solutions. Financial institutions and fintech companies can capitalize on this growth by developing innovative offerings that align with consumer preferences and regulatory developments.
In the next two to four years, the competitive landscape is expected to evolve as more financial service providers enter the market, leveraging advancements in fintech and expanding digital payment infrastructures. Strengthening the NAPAS network and the broader acceptance of prepaid cards across sectors will contribute to greater financial inclusion and a shift away from cash-based transactions. As the prepaid card ecosystem matures, regulatory developments and strategic collaborations will shape the market, ensuring sustainable growth and increased adoption among Vietnamese consumers.
Rapid Growth of Digital Payment Adoption
Vietnam's rapid adoption of digital payments is transforming the financial landscape, with prepaid cards emerging as a preferred payment method among consumers. The increasing reliance on digital transactions, driven by expanding e-commerce activities and heightened security concerns, has accelerated the shift from cash-based payments. Prepaid cards offer a secure and convenient alternative, particularly for online purchases, where consumers seek to protect their primary banking details while maintaining financial flexibility. Government initiatives play a key role in fostering this transition by actively promoting cashless transactions and digital financial inclusion. Policies aimed at reducing cash dependency and regulatory support for digital wallets and fintech services have created an environment conducive to prepaid card growth. As prepaid cards become more accessible and integrated with digital payment solutions, their usage is expected to rise across various consumer segments. Integration of Prepaid Cards with Digital Wallets
Integrating prepaid cards with digital wallets in Vietnam enhances the convenience and accessibility of cashless transactions. Consumers increasingly opt for digital payment solutions to manage funds efficiently while maintaining security. As a result, prepaid card providers are embedding their services into digital wallets, enabling users to conduct seamless transactions across various online and offline channels. Technological advancements in fintech are a key driver of this trend, allowing for improved security, interoperability, and ease of use. Consumers, particularly younger demographics, demand quicker and more convenient payment solutions, prompting financial service providers to expand digital wallet functionalities. The ability to link prepaid cards to digital wallets gives users greater control over their spending while eliminating reliance on traditional banking services. Over the next two to four years, the growing integration of prepaid cards with digital wallets will create a more interconnected financial ecosystem. As adoption increases, businesses and financial institutions will likely enhance digital payment solutions to capture a larger market share. This shift will cater to evolving consumer preferences and strengthen Vietnam's digital economy by encouraging greater participation in cashless transactions. Emergence of Domestic Prepaid Card Programs
Vietnamese banks are increasingly launching domestic prepaid card programs in collaboration with local partners to strengthen the country's payment ecosystem. These initiatives aim to provide consumers with cost-effective, locally managed prepaid card solutions that reduce reliance on international payment networks. By promoting domestic payment infrastructure, these programs support Vietnam's broader strategy of enhancing financial accessibility and developing a more self-sufficient financial system. The expansion of the National Payment Corporation of Vietnam (NAPAS) network has been a key driver in facilitating domestic prepaid card issuance. Banks and financial institutions are leveraging this network to introduce prepaid card solutions with lower fees than international options, making them a viable choice for cost-conscious consumers. Additionally, businesses are increasingly adopting domestic prepaid cards for payroll, government disbursements, and targeted financial programs, further driving market growth. Over the next two to four years, domestic prepaid cards are expected to gain a larger market share as banks continue to enhance their offerings. Strengthening the NAPAS network and expanding prepaid card functionalities will contribute to broader financial inclusion, allowing more individuals and businesses to access formal financial services. As adoption rises, domestic prepaid cards will play a crucial role in Vietnam's digital financial landscape, reinforcing the shift towards a cashless economy. Competitive Landscape of the Vietnam Prepaid Card Market
Vietnam's prepaid card market is witnessing a transformation fueled by digital payment growth, competitive innovation, and supportive regulatory measures. Established financial institutions and new fintech entrants actively invest in prepaid solutions to cater to the growing consumer demand for cashless transactions. With increasing consumer adoption and regulatory backing, prepaid cards will continue to expand their role in Vietnam's financial ecosystem. Companies prioritizing technological innovation, security enhancements, and strategic partnerships will be best positioned to capture market opportunities and maintain a competitive edge in the evolving prepaid card sector.
Current Market Dynamics
Vietnam's prepaid card market has expanded significantly due to the rising adoption of digital payments and financial services. With increasing demand for cashless transactions, prepaid cards have gained traction across different sectors, including retail, corporate payroll, and travel. The market's rapid growth is also fueled by the convenience and security of prepaid cards, particularly in online transactions where consumers seek greater control over their spending. The widespread acceptance of prepaid cards across industries and the growing integration with digital wallets have contributed to this growth. As more businesses and financial institutions introduce prepaid solutions, the market is evolving to meet the changing needs of both consumers and enterprises. Key Players and Market Share
The prepaid card market in Vietnam is dominated by established banks and fintech companies competing to provide innovative payment solutions. Leading financial institutions such as Vietcombank, BIDV, and Sacombank have leveraged their extensive networks to offer various prepaid card products catering to individual consumers and businesses. These banks continue to develop their digital offerings to align with the growing trend of cashless payments. In addition to traditional banks, fintech firms like MoMo and ZaloPay have entered the market, introducing prepaid card solutions tailored for tech-savvy consumers. These companies have disrupted the competitive landscape by offering flexible, user-friendly digital payment options. Their presence has intensified competition, pushing both fintechs and traditional banks to enhance their prepaid card services through digital innovations. Recent Launches and Partnerships
Strategic partnerships and acquisitions have shaped Vietnam's prepaid card industry. Companies are collaborating to expand their product offerings and strengthen their market presence. A notable example is Got It, a key player in the gift card sector, which has reported significant revenue growth, demonstrating the increasing demand for digital prepaid solutions. In 2023, Got It generated approximately US$ 6.3 million in revenue, a 26.8% increase from the previous year. The company now focuses on digital transformation by expanding from offline store vouchers to integrated digital prepaid solutions for brand partners. Projections for 2024 indicate a 49% revenue increase, driven by its shift to online payment platforms and partnerships with businesses to enhance digital gifting solutions. Anticipated Market Evolution (Next 2-4 Years)
The market will evolve as financial institutions and fintech companies innovate to attract a growing customer base. Digital transformation efforts, particularly in mobile payments and e-commerce, will further drive the adoption of prepaid cards. As competition intensifies, companies will focus on differentiating their prepaid card offerings through enhanced security, loyalty programs, and deeper integration with digital wallets. Strategic partnerships and mergers between banks and fintech firms will likely increase, leading to new product innovations and a more interconnected payment ecosystem. The evolving regulatory framework will also be critical in shaping market dynamics, ensuring a secure and competitive environment for prepaid card providers. Regulatory Changes
Vietnam's regulatory landscape has evolved to support the transition towards a cashless economy. The government has implemented new policies promoting prepaid card usage and digital transactions in the past year. These measures include tax incentives for businesses adopting electronic payments and regulatory frameworks to support fintech companies entering the prepaid card market. Additionally, authorities have introduced stricter security regulations to protect consumers using prepaid cards for online transactions. These regulatory updates aim to foster trust in prepaid financial products and encourage wider adoption across industries. The government's continued push for financial inclusion is expected to further accelerate the prepaid card market's growth in the coming years. This report provides a detailed data-centric analysis of the prepaid card and digital wallet industry in Vietnam, covering market opportunities and analysis across a range of prepaid card and digital wallet domains.
Key Attributes:
Report Attribute Details No. of Pages 159 Forecast Period 2025 - 2029 Estimated Market Value (USD) in 2025 $7.19 Billion Forecasted Market Value (USD) by 2029 $16.52 Billion Compound Annual Growth Rate 23.1% Regions Covered Vietnam Report Scope
This report offers an in-depth, data-driven examination of prepaid payment instruments, focusing on expenditures via prepaid cards and digital wallets within both retail and corporate consumer sectors. It also presents an overview of consumer behavior and retail spending patterns in Vietnam. The report includes a detailed breakdown of key market segments for each country.
With over 80+ country-level key performance indicators (KPIs), the report provides a thorough understanding of market dynamics in the prepaid card and digital wallet sectors.
Vietnam Prepaid Payment Instrument Market Size and Forecast Vietnam Digital Wallet Market Size and Forecast Vietnam Digital Wallet Market Size and Forecast by Key Segments Vietnam Digital Wallet Retail Spend Dynamics Vietnam Prepaid Card Industry Market Attractiveness Vietnam Open Loop Prepaid Card Future Growth Dynamics Vietnam Closed Loop Prepaid Card Future Growth Dynamics Vietnam Prepaid Card Consumer Usage Trends Vietnam Prepaid Card Retail Spend Dynamics Vietnam General Purpose Prepaid Card Market Size and Forecast Vietnam Gift Card Market Size and Forecast Gift Card Market Size and Forecast by Functional Attribute Gift Card Market Size and Forecast by Consumer Segments Gift Card Market Share Analysis by Retail Categories Vietnam Entertainment and Gaming Prepaid Card Market Size and Forecast Vietnam Teen and Campus Prepaid Card Market Size and Forecast Vietnam Business and Administrative Expense Prepaid Card Market Size and Forecast Vietnam Payroll Prepaid Card Market Size and Forecast Vietnam Meal Prepaid Card Market Size and Forecast Vietnam Travel Forex Prepaid Card Market Size and Forecast Vietnam Transit and Tolls Prepaid Card Market Size and Forecast Vietnam Social Security and Other Government Benefit Programs Prepaid Card Market Size and Forecast Vietnam Fuel Prepaid Cards Market Size and Forecast Vietnam Utilities, and Other Prepaid Cards Market Size and Forecast Vietnam Virtual Prepaid Card Industry Market Attractiveness Vietnam Virtual Prepaid Card Market Size by Key Categories
For more information about this report visit www.researchandmarkets.com/r/8q82ta
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