Vietnam Mobile Wallet Market By Type, By Technology, By Application, By Industry Vertical, By Region, Company Forecast and Opportunities, 2027

Vietnam Mobile Wallet market is expected to grow at an impressive double-digit CAGR in the forecast period, 2023-2027. Mobile wallet is in high demand as they provide a contactless option to businesses and individuals and helps in maintaining the transparency in financial transactions. Financial institutions and banks are providing mobile payment services to customers to enhance the consumer experience and to ease and fasten the process of financial transactions by proving remote and secure access to the accounts. Mobile wallets eliminate the need of carrying cash, credit cards, and debit cards for paying for products and services and provide a safer method for cashless transactions. The growing adoption of Mobile Wallet in the prominent industry verticals including BFSI, transportation, retail, entertainment & media, amongst others is contributing significantly to fuel the Mobile Wallet market growth. 

The rise in the disposable income among middle-class families is enabling them to increase their expenditure capacity to purchase electronic devices for purchasing products and services via online channels which in turn is influencing the Mobile Wallet market growth. The increasing adoption of Mobile Wallet services and the growth in the usage of RFID, host-card emulation technology for better experience while making transactions is expected to accelerate the Mobile Wallet market growth in the next five years. The growing demand for Mobile Wallets while paying through mobile web payments as the users only require a smartphone to make the payment and is faster than the other methods thereby accelerating the growth of the market.

Vietnam Mobile Wallet market is segmented into type, technology, application, industry vertical, regional distribution, and company. Based on the technology, the market can be divided into near field communication (NFC), QR code, digital only, and text based. The near field communication segment is expected to hold a major market share in the forecast period, 2023-2027 owing to the several benefits offered such as high security, and faster transactions which ensure a hassle-free transaction. 

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The major players operating in the Vietnam Mobile Wallet market are MoMo, VNG Corporation, Viettel, AirPay, VNPay, GrabPay, ManagePay Systems, Payoo, Moca, SenPay, and others. Major companies are developing advanced technologies and launching new services to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments.

Objective of the Study:

  1. To analyze the historical growth of the market size of Vietnam Mobile Wallet market from 2017 to 2020.
  2. To estimate and forecast the market size of Vietnam Mobile Wallet market from 2021 to 2027 and growth rate until 2027.
  3. To classify and forecast Vietnam Mobile Wallet market based on type, technology, application, industry vertical, regional distribution, and company.
  4. To identify dominant region or segment in the Vietnam Mobile Wallet.
  5. To identify drivers and challenges for Vietnam Mobile Wallet.
  6. To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Vietnam Mobile Wallet.
  7. To identify and analyze the profile of leading players operating in Vietnam Mobile Wallet.
  8. To identify key sustainable strategies adopted by market players in Vietnam Mobile Wallet market.


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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of service providers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the service providers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the service providers, distribution channels and presence of all major players across the globe.

TechSci Research calculated the market size of Vietnam Mobile Wallet market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

  1. Mobile wallet service provider companies
  2. Market research and consulting firms
  3. Government bodies such as regulating authorities and policy makers
  4. Organizations, forums, and alliances related to Mobile Wallet.

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

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Mr. Ken Mathews

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Tel: +1-646-360-1656

Email: sales@techsciresearch.com

Website: https://www.techsciresearch.com

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