The Vietnam Fintech Market Report is Segmented by Service Proposition (Digital Payments, Digital Lending & Financing, Digital Investments, Insurtech, Neobanking), End-User (Retail, Businesses), User Interface (Mobile Applications, Web/Browser, POS/IoT Devices), and Geography (Northern Vietnam, Central Vietnam, Southern Vietnam). The Market Forecasts are Provided in Terms of Value (USD).

Vietnam Fintech Market was valued at USD 15.67 Billion in 2024 and is expected to reach USD 50.21 Billion by 2030 with a CAGR of 21.48%

Vietnam Fintech Market size was valued at USD 21.5 Billion in 2024 and is projected to reach USD 70.4 Billion by 2032, growing at a CAGR of 16% during the forecast period 2025 to 2032. Vietnam Fintech Market: Definition/Overview

Fintech in Vietnam is the integration of technology into financial services to improve efficiency, accessibility, and security. It includes a variety of digital solutions, such as mobile payments, digital banking, peer-to-peer (P2P) financing, blockchain-based transactions, and rob o-advisory services. The growing use of e-wallets, online payment gateways, and alternative financing platforms has altered financial transactions, making them more frictionless and inclusive, especially for the unbanked population.

Vietnam's fintech is expected to grow rapidly, owing to rising internet penetration, government backing for cashless payments, and rising consumer demand for digital financial services.

The Vietnam fintech market was valued at USD 15.40 Billion in 2024. The industry is expected to grow at a CAGR of 17.80% during the forecast period of 2025-2034 to attain a valuation of USD 79.25 Billion by 2034.

The size of the Vietnam Fintech Market market was valued at USD 16.62 Million in 2024 and is projected to reach USD 60.36 Million by 2033, with an expected CAGR of 20.23% during the forecast period. Recent developments include: July 2023: Backbase, the world’s largest omni-channel bank, has partnered with OBC to accelerate its omni-channel banking transformation, as announced in a signing ceremony., February 2022: Visa, the world’s largest digital payment company, partnered with VNPAY, a leading fintech company in Vietnam, to improve the digital payments ecosystem in Vietnam.. Key drivers for this market are: 4., Increasing Digital Adoption and Smartphone Penetration4.; Young and Tech-Savvy Population. Potential restraints include: 4., Increasing Digital Adoption and Smartphone Penetration4.; Young and Tech-Savvy Population. Notable trends are: Increasing Per Capita Income Witnessing Growth in Vietnam FinTech Industry.

Vietnam's Fintech market is booming, projected to reach $16.62 billion in 2025 with a 20.23% CAGR. Discover key drivers, trends, and challenges shaping this dynamic sector, including leading players like MoMo and ZaloPay. Explore the market analysis and future growth projections. Key drivers for this market are: 4., Increasing Digital Adoption and Smartphone Penetration4.; Young and Tech-Savvy Population. Potential restraints include: 4., Increasing Digital Adoption and Smartphone Penetration4.; Young and Tech-Savvy Population. Notable trends are: Increasing Per Capita Income Witnessing Growth in Vietnam FinTech Industry.

Discover the booming Vietnam payments industry! Explore market size, growth projections (CAGR 10.58%), key players (Vietcombank, MoMo, ZaloPay), and emerging trends driving digital transformation in Vietnam's fintech sector. Learn about payment methods, segment analysis, and future opportunities in this rapidly expanding market. Recent developments include: June 2022 - Vietnam Posts and Telecommunications Group (VNPT) and the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) have inked a collaboration agreement (VNPT). The development of digital payment services and platforms is covered under this bilateral cooperation agreement., November 2021 - Le Minh Khai, the Deputy Prime Minister, has signed a resolution authorizing a scheme for the growth of cashless payment in Vietnam from 2021 to 2025. The project's goals are to promote positive changes in cashless payment in a high-growth economy, make the practice a habit for inhabitants in metropolitan regions, progressively expand to rural, remote, and mountainous locations, as well as eliminate cash-related expenditures.. Key drivers for this market are: High Proliferation of E-commerce, including the rise of m-commerce and cross-border e-commerce supported by the increase in purchasing power, Enablement Programs by Key Retailers and Government encouraging digitization of the market; Growth of Real-time Payments, especially Buy Now Pay Later in the country. Potential restraints include: High Proliferation of E-commerce, including the rise of m-commerce and cross-border e-commerce supported by the increase in purchasing power, Enablement Programs by Key Retailers and Government encouraging digitization of the market; Growth of Real-time Payments, especially Buy Now Pay Later in the country. Notable trends are: Digital Wallets to Drive the Payment Market.

Vietnam Automotive Fintech Market is expected to grow at a CAGR of 15-20% from 2025 to 2030.

Discover the booming Vietnam payments industry! This report analyzes market size, CAGR (10.58%), key players (MoMo, ZaloPay, VNPAY), and future trends driving growth in digital wallets, online payments, and POS systems. Explore investment opportunities and market segmentation data for 2019-2033. Recent developments include: June 2022 - Vietnam Posts and Telecommunications Group (VNPT) and the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) have inked a collaboration agreement (VNPT). The development of digital payment services and platforms is covered under this bilateral cooperation agreement., November 2021 - Le Minh Khai, the Deputy Prime Minister, has signed a resolution authorizing a scheme for the growth of cashless payment in Vietnam from 2021 to 2025. The project's goals are to promote positive changes in cashless payment in a high-growth economy, make the practice a habit for inhabitants in metropolitan regions, progressively expand to rural, remote, and mountainous locations, as well as eliminate cash-related expenditures.. Key drivers for this market are: High Proliferation of E-commerce, including the rise of m-commerce and cross-border e-commerce supported by the increase in purchasing power, Enablement Programs by Key Retailers and Government encouraging digitization of the market; Growth of Real-time Payments, especially Buy Now Pay Later in the country. Potential restraints include: High Installation Costs Coupled with Maintenance Costs. Notable trends are: Digital Wallets to Drive the Payment Market.

In 2020, MoMo was the leading mobile wallet brand in Vietnam, accounting for ** percent of the market share. As of the first half of 2021, this e-wallet recorded over ** million installations, the highest among all e-wallet providers. MoMo, the digital payment start-up behind this app, has raised a total funding value of *** million U.S. dollars and is on its way to becoming Vietnam’s next super app.

 E-wallet usage in Vietnam

Together with the growth of the Vietnamese e-commerce market, the usage of digital payment services, especially e-wallets, has become more common in the country. Additionally, the COVID-19 pandemic has accelerated the expansion of the e-wallet segment. In 2020, the number of mobile wallet users in Vietnam amounted to over ** million, and it was forecast to reach the equivalent of over half of the country’s population by 2025.

Vietnam’s emerging fintech sector Vietnam’s fintech sector has been receiving a lot of attention recently due to the rapid growth of its sub-sectors, particularly digital payments, cryptocurrencies, and blockchain technologies. This sector has recorded a significant increase in the amount of investment as well as the number of start-ups within only a few years. While the government has been working on launching a comprehensive regulatory framework for the fintech sector, the number of fintech users and the transaction value within this sector were forecast to continue increasing exponentially year on year.

Vietnam Banking as a Service market is valued at USD 1.1 billion, driven by digital banking adoption, fintech proliferation, and demand for integrated services.

In 2023, Fundiin expanded its partnerships with major Vietnamese retailers and integrated into popular e-commerce platforms, enhancing its consumer reach. Cities likeHo Chi Minh City and Hanoidominate the BNPL landscape, driven by higher digital adoption, disposable income, and retail activity. The Vietnam BNPL market reached a valuation ofVND 9.2 trillionin 2023, driven by increasing demand for flexible credit options, the growing e-commerce ecosystem, and rising smartphone penetration. The market is spearheaded by fintech startups such asMoMo, Fundiin, Kredivo, and Atome, alongside participation from banks exploringdigital lendingoptions. These players offer seamless, instant, and interest-free short-term financing, particularly for online retail and lifestyle purchases. Vietnam BNPL Market Overview and Size

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Microfinance Market Size 2025-2029

The microfinance market size is forecast to increase by USD 206.8 billion at a CAGR of 14.1% between 2024 and 2029.

The market is experiencing significant growth, driven by the emergence of social media and increasing digital connectivity. This trend is particularly prominent in the Asia Pacific region, where the market is expanding rapidly. However, the industry faces challenges related to inadequate risk management. The proliferation of digital platforms is enabling financial inclusion, reaching populations previously underserved by traditional financial institutions. In the Asia Pacific region, for instance, over 200 million adults remain unbanked, presenting a vast opportunity for microfinance institutions. Yet, the sector's growth is not without challenges. Effective risk management remains a significant hurdle, as microfinance institutions grapple with assessing and mitigating risk in an environment characterized by limited financial data and high operational complexity. Companies seeking to capitalize on market opportunities and navigate challenges effectively must invest in advanced risk management solutions, leveraging technology and data analytics to mitigate risk and expand their reach. Additionally, strategic partnerships and collaborations can help microfinance institutions overcome operational complexities and expand their offerings, catering to the diverse financial needs of their clientele.

What will be the Size of the Microfinance Market during the forecast period?

Request Free SampleThe market encompasses loan facilities and financial services catering to the low-income segment, primarily focusing on cottage industries and household income generation. Microfinance credit plays a crucial role in poverty reduction by providing access to financial aid for individuals and microenterprises, often bypassing traditional lending practices. Technological infrastructure, including digital platforms and mobile banking, significantly contributes to the market's growth, enabling financial inclusion and economic empowerment. Peer-to-peer lending and technological integration have reduced operating costs, allowing financial institutions to offer microcredit facilities with competitive interest rates. Traditional banking services are increasingly adopting technology to streamline loan processing, savings accounts, money transfers, leasing services, and financial return tracking. The financial health of microfinance institutions relies on effective credit scoring and maintaining financial return, attracting private sector banks and fintech companies to invest in this sector. Overall, the market continues to expand, driven by the need for affordable financial services and the increasing adoption of technology.

How is this Microfinance Industry segmented?

The microfinance industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. End-userSmall enterprisesSolo entrepreneursMicro enterprisesUsageAgricultureManufacturing/ProductionTrade and servicesHouseholdOthersTypeBanksNon-banksService TypeGroup and individual micro-creditInsuranceSavings and checking accountsLeasingMicro-investment fundsGeographyAPACBangladeshChinaIndiaIndonesiaVietnamSouth AmericaArgentinaBrazilChileColombiaNorth AmericaUSEuropeMiddle East and Africa

By End-user Insights

The small enterprises segment is estimated to witness significant growth during the forecast period.The market plays a significant role in catering to the financial needs of small businesses, particularly those without access to traditional financial institutions. Fueled by an increasing entrepreneurial spirit, expanding public awareness of microfinance services, and favorable regulatory environments, this market has experienced substantial growth. Microfinance institutions (MFIs) offer loan facilities to various sectors, including rural agriculture, cottage industries, and micro and small enterprises. Digital integration through mobile banking, point-of-sale systems, and peer-to-peer lending platforms has broadened reach and improved accessibility, especially in remote areas. MFIs provide financial services such as savings accounts, money transfers, leasing services, and loan processing to promote financial health and social mobility among unbanked populations. Despite challenges like high interest rates, short repayment periods, and operational costs, MFIs remain crucial in poverty reduction and financial inclusion.

Get a glance at the market report of share of various segments Request Free Sample

The Small enterprises segment was valued at USD 59.80 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 48% to the growth of the global market

Asia-Pacific Motorcycle Loan Market is Segmented by Provider Type (Banks, Nbfcs (Non-Banking Financial Services), Oems (Original Equipment Manufacturers), and Others (Fintech Companies)), and Country (India, China, Japan, Vietnam, Australia, and Rest of Asia-Pacific). The Report Offers Market Size and Forecasts for the Asia-Pacific Motorcycle Loan Market in Value (USD) for all the Above Segments.

Discover the booming Venture Capital market! Our analysis reveals a CAGR exceeding 5%, driven by fintech, healthcare, and tech startups. Explore key trends, top investors (Sequoia, Tiger Global), and regional insights for 2025-2033. Invest wisely with our data-driven report. Recent developments include: In 2022, IDG Capital Vietnam Confirms Investment in METAIN to Lead NFT-Empowered Real Estate Trend in Vietnam. IDG Capital also shows its ambition to lead the NFT Real estate trend and reveals its plan to proactively engage with global investors to attract investment into the Vietnam real estate market. With the high security, instantaneous settlement, transparent, seamless transaction process, blockchain, smart contract, and NFT (Non-fungible token) technology is transforming the real estate industry and will become the key trend in the next decades., In 2020, VC investment in Europe set a second straight quarterly record, with USD 14.3 billion raised across 1,192 deals, compared to USD 13.8 billion across 1,473 deals in Q3'20. And The Americas accounted for more than half of VC investment globally during Q4'20, with USD 41 billion of investment across 2,725 deals. Of this amount, the United States accounted for USD 38.8 billion across 2,526 deals.. Notable trends are: Distribution of Start-Ups Witnessing Venture Capital Industry Globally.

Discover the booming ASEAN bancassurance market! This in-depth analysis reveals a CAGR of 6.20%, driven by digitalization and rising insurance penetration. Learn about key players, regional trends, and future growth projections for this lucrative sector. Key drivers for this market are: , Advances in Distribution by Changes in Consumer Needs; Technological Advances and Impact of Digitalization on Distribution Model. Potential restraints include: , Advances in Distribution by Changes in Consumer Needs; Technological Advances and Impact of Digitalization on Distribution Model. Notable trends are: Significance of bancassurance as a distribution channel in ASEAN region.

ZaloPay Acceptance Market Outlook

According to our latest research, the Global ZaloPay Acceptance market size was valued at $1.2 billion in 2024 and is projected to reach $7.4 billion by 2033, expanding at an impressive CAGR of 22.8% during the forecast period of 2025–2033. The primary catalyst driving the robust expansion of the ZaloPay Acceptance market globally is the rapid digitization of payment systems, particularly in emerging economies where mobile-first solutions are bridging gaps in traditional banking infrastructure. As businesses and consumers increasingly prioritize contactless, secure, and convenient payment methods, ZaloPay’s seamless integration across various platforms and industries is positioning it as a preferred choice for digital transactions worldwide.

Regional Outlook

Asia Pacific currently commands the largest share of the ZaloPay Acceptance market, accounting for over 62% of the global market value in 2024. This dominance is primarily attributed to the region’s mature digital payment ecosystem, high smartphone penetration, and proactive regulatory frameworks promoting fintech innovation. Countries like Vietnam, Indonesia, and Thailand are leading adopters, with ZaloPay’s deep integration into local e-commerce, retail, and transportation sectors. The presence of a tech-savvy millennial population, combined with government initiatives to advance cashless economies, has further fueled the uptake of ZaloPay Acceptance in both urban and rural areas. The competitive landscape is also shaped by aggressive marketing campaigns, strategic partnerships with local merchants, and the continuous rollout of value-added services tailored to regional consumer preferences.

Latin America is emerging as the fastest-growing region in the ZaloPay Acceptance market, with a projected CAGR of 29.3% from 2025 to 2033. The surge in mobile wallet adoption, coupled with increased investments in fintech infrastructure, is driving this rapid expansion. Market players are capitalizing on the region’s large unbanked population and the growing demand for secure and convenient payment alternatives. Governments and financial institutions are actively supporting digital financial inclusion through policy reforms and public-private partnerships, which has accelerated the deployment of ZaloPay Acceptance solutions across diverse sectors. Strategic collaborations with local e-commerce giants and transportation networks are further amplifying reach and user engagement, making Latin America a key growth frontier for ZaloPay Acceptance providers.

Emerging economies in Africa and the Middle East are witnessing a gradual but steady adoption of ZaloPay Acceptance, although challenges remain. In these regions, infrastructural limitations, fragmented regulatory environments, and varying levels of digital literacy are hindering rapid uptake. However, localized demand for mobile-first payment solutions is rising, especially among small and medium enterprises seeking to tap into the digital economy. Policy makers are increasingly recognizing the potential of digital payments to drive financial inclusion and economic growth, leading to pilot projects and targeted incentives. As ZaloPay Acceptance continues to adapt its offerings to local contexts and forge partnerships with regional stakeholders, the market is poised for incremental growth, albeit at a slower pace compared to Asia Pacific and Latin America.

Report Scope

According to a survey on e-wallet usage in Vietnam in the third quarter of 2024 by Decision Lab, MoMo was the most used e-wallet by Vietnamese respondents, as stated by ** percent of them. Meanwhile, the same survey revealed that ShopeePay was used the most by ** percent of the respondents. Digital payments in Vietnam Vietnam was formerly one of the most cash-dependent countries in Southeast Asia. Although cash is still widely used, the COVID-19 pandemic and the rise of e-commerce have accelerated the adoption of digital payments across the country. Following a prolonged period of enduring significant impacts from the COVID-19 pandemic, Vietnam now has one of the largest digital payment markets based on transaction value in Southeast Asia. It has become the nation with the second-highest mobile payment penetration rate worldwide in 2022. MoMo e-payment service MoMo e-payment service and the namesake super app is arguably the most successful digital payment startup in Vietnam. MoMo’s mobile wallet has surpassed its competitors, including ZaloPay by VNG Corporation, and ShopeePay of Southeast Asia’s leading e-commerce platform, to become the most used e-wallet by all generations in Vietnam, as of the fourth quarter of 2023. Among a few Vietnamese startups that have reached unicorn status and among the most well-funded startups in the country, MoMo is expected to continue contributing to the development of Vietnam’s fintech sector.

As of May 2023, True Money Wallet led the e-wallet market in Thailand with nearly 53 percent of the market share. This was followed by Rabbit Line Pay, with a share of around 25 percent. True Money as the market leader Since the COVID-19 outbreak, Thai people have become more accustomed to a cashless society. When purchasing products or services, e-wallets, mobile banking, or PromptPay are the usual methods of payment. In 2013, True Money was the first to establish an e-wallet service in the Thai market. With around 24 million users, True Money Wallet’s services include transferring money, paying utility bills, and purchasing items at online stores. Currently, True Money is covering purchases in six countries in the ASEAN region, including Burma, Laos, Cambodia, Vietnam, Indonesia, and the Philippines. Moreover, True Money Wallet is the only e-wallet payment method accepted by 7-Eleven stores in Thailand. LINE Pay e-wallet In August 2023, LINE MAN Wongnai and LINE (Thailand) acquired Rabbit LINE Pay, an online and offline payment system provider. Rabbit LINE Pay, which is now called LINE Pay, is another popular e-payment services in Thailand. It can be used to pay, transfer money, or top up mass transit networks such as the BTS SkyTrain, as well as purchase products and services from partner brands and pay utility bills. Given the rise in the transaction volume of e-wallets in Thailand, the Bank of Thailand predicted that by 2025, the use of E-Wallet money will have tripled.

As of November 2024, the Bank for Investment and Development of Vietnam (BIDV), a state-owned financial institution, was the leading bank in Vietnam, with approximately *** thousand trillion Vietnamese dong worth of assets. Fellow state-owned Vietnam Joint Stock Commercial Bank For Industry and Trade (Vietinbank) ranked second in terms of assets, followed by the Joint Stock Commercial Bank For Foreign Trade Of Vietnam (Vietcombank), at *** and *** thousand trillion Vietnamese dong, respectively. Vietnamese financial institution system The central bank in Vietnam is the State Bank of Vietnam, which also serves as the main regulatory institution of the country’s banking system. Commercial banks are the most prevalent type of banking institutions in Vietnam, including state-owned commercial banks, joint-stock commercial banks, joint-venture banks, and wholly foreign-owned banks. State-owned banks led in terms of total assets and also outperformed other banking models in return on equity in 2024. Digital banking on the rise Many consumers in Vietnam still seem to have a stronger preference for traditional banks, as traditional banks are usually associated with trust, reputation, and good customer service, which Vietnamese consumers hold high regard for. As the country is considered quite late in digitalizing the banking system, there remains plenty of room for digital banking to grow in Vietnam. The internet and mobile banking boom during the COVID-19 pandemic is evidence of substantial growth potential, especially among tech-savvy younger generations. In addition to that, the number of FinTech users in Vietnam is also expected to double in seven years.