DUBLIN, Sept. 24, 2019 /PRNewswire/ — The “Vietnam Mobile Wallet and Payment Market Opportunities (Databook Series) – Market Size and Forecast across 45+ Market Segments in Mobile Commerce, International Remittance, P2P transfer, Bill Payment, Retail Spend, Consumer Attitude & Behaviour, and Market Risk” report has been added to ResearchAndMarkets.com’s offering.
The mobile payment industry in Vietnam is expected to record a CAGR of 22.8% to reach US$ 27,693.5 million by 2025. The mobile wallet payment segment in value terms increased at a CAGR of 23.0% during 2018-2025.
Cashless payments have been posting strong growth in Vietnam in recent quarters. The transactions over digital wallets and mobile apps have increased by over 120%, driving a fundamental change. The mobile payment services are becoming mainstream and technologies such as QR codes and contactless payments have gained popularity.
Over the last 4-6 quarters, the number of mobile payment users have recorded strong growth along with online transaction. Banks have been driving the mobile payment user growth in Vietnam. At Sacombank, an unexpected number (1.1 million to be precise) of new registrations for mobile banking were done in October 2018. Between January and June 2018, mobile banking transactions worth US$2.76 billion were made by customers at VietinBank. Around 1.5 million customers made digital transactions through this bank during this period.
Apart from the banks, startups such as Mobivi, OnePay, Momo, and Payooamong are driving innovation to gain market share. Overall, among 27 licensed payment service providers in Vietnam, 20 operate mobile / digital wallets.
Also, mobile wallet service providers based in other countries such as Grab and Go-Pay have launched their services in Vietnam, seeing it as a potential market. These players are also aiming to offer financial services, targeting mass market. The mobile payment ecosystem in Vietnam is expected to benefit from experience of these players in other emerging markets.
QR code payments have also gained traction in Vietnam. The integration of this technology has been made at all key banks in the country, including state-owned banks such as Vietcombank, VietinBank and BIDV. The products and services accepting payments through QR codes are becoming diverse.
This report provides a comprehensive view on mobile payment / mobile wallet market size and growth dynamics, industry dynamics, retail spending, consumer attitude and behaviour, and competitive landscape in Vietnam. The report focuses on data-centric analysis of mobile payment market dynamics to help companies understand business and investment opportunities along with risks.
Market Size and Forecast
Mobile payment and mobile wallet market size and forecast across 45+ markets segments on three essential KPIs – mobile payment transaction value, volume and average transaction value.
Vietnam Market Share of Key Mobile Wallet Companies
- Provides market share by key players in value terms.
Vietnam Market Share by Mobile Payment Technology: Provides market share by key mobile payment technologies –
- SMS / USSD
- Code Based
- Web Based
Vietnam Mobile Proximity Payment Market Size and Forecast
Mobile payment and mobile wallet market size and forecast by mobile proximity payment.
Mobile Wallet Usage Analysis by Consumer Profile: Drawing from proprietary survey results, this report identifies and interprets key mobile payment KPIs, including spend by age, gender, and income level in both value and volume terms.
Retail Spend Analysis through Mobile Wallet: Breaks down retail spend across 10 categories to provide detailed insights on consumer behaviour and changing dynamics of spend through mobile wallet. Retail spend categories tracked include food and grocery, health & beauty, apparel and footwear, books / music / video, consumer electronics, pharmacy and wellness, restaurants & bars, toys, kids & babies, media and entertainment, services
Vietnam Mobile Retail Shopping Market Size and Forecast (2016 – 2025)
Market opportunity and growth dynamics in retail shopping by mobile payment transaction value, volume and average transaction value across following segments in Vietnam
- In-Store Retail
- Online Retail
- Domestic Online Retail
- International Online Retail
Vietnam Mobile Travel Booking Market Size and Forecast (2016 – 2025)
Market opportunity and growth dynamics by mobile payment transaction value, volume and average transaction value across following mobile travel booking segments in Vietnam
- Offline Travel Booking
- Online Travel Bookings
- Online Flight Bookings
- Online Bus & Train Bookings
- Online Hotel Bookings
- Online Domestic Travel Bookings
- Online Domestic Flight Bookings
- Online Domestic Bus & Train Bookings
- Online Domestic Hotel Bookings
- Online International Travel Bookings
- Online International Flight Bookings
- Online International Bus & Train Bookings
- Online International Hotel Bookings
- Spend During Travel
- Transit & Toll – Metro & Cabs Bookings
Vietnam Mobile Domestic and International Remittance Market Size and Forecast (2016 – 2025)
Market opportunity and growth dynamics by mobile payment transaction value, volume and average transaction value across the following domestic and international remittance segments in Vietnam
- Domestic Remittance (P2P)
- Intra City P2P
- Inter State P2P
- International Remittance
- Outbound Remittance
- Inbound Remittance
Vietnam Mobile Recharge, Bill Payment, and Other Payment Market Size and Forecast (2016 – 2025)
Market opportunity and growth dynamics by mobile payment transaction value, volume and average transaction value across the following mobile recharge and bill payment segments in Vietnam
- Insurance Payments
- Fuel Bills
- Healthcare and Wellness Bills
- Rental Payment
- Mobile Recharge/Payment
- DTH Recharge/Payment
- Broadband/Data Cards Recharge/Payment
- Landline Recharge/Payment
- Credit Cards Payment
Vietnam Mobile Financial Services Market Size and Forecast (2016 – 2025)
Market opportunity and growth dynamics by mobile payment transaction value, volume and average transaction value across the following financial services segments in Vietnam
- Investment Payment
- P2P Lending
- Charity and Crowd Funding
- Social Gifting
- Person to Government (P2G) Payment
For more information about this report visit https://www.researchandmarkets.com/r/xdkuft
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