Vietnam's digital wallet users forecast to reach 50 million by 2024

Image from Vietnam News/ANN

HANOI, Feb 7 (Xinhua): Vietnam's electronic wallet users will jump to 50 million by 2024 and double to 100 million by 2026, Vietnam News Agency has reported, citing a report by fintech Robocash Group.

The country's digital wallet population penetration is currently 57 per cent, compared to just 14 per cent in 2018.

This equates to around 41.3 million users, three times higher than those four years ago, the group said.

More than 40 electronic wallet providers are currently available to Vietnamese, a jump from only five just six years ago, according to a Decision Lab market research.

The top three electronic wallets, including Momo, Moca and ZaloPay, hold up to 90 percent of the market share.

The Vietnamese e-wallets, as a cashless option, can compete against traditional payments and digital banking in the country, Robocash said, adding that the local electronic wallets have huge potential to attract new users not only within Vietnam, but also beyond its borders. - Xinhua

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Vietnam , Users , Digital Wallets , Rising High , Data


Next In Aseanplus News

Thai PM dissolves parliament
Amazon deepens tech-sector gloom with another 9,000 layoffs
Just smoke and mirrors: Old 'ghost prank' by fireman resurfaces on social media
Credit Suisse, UBS deal: What you need to know
China's Xi arrives in Russia to meet Putin over Ukraine war
Asean News Headlines at 9pm on Monday (Mar 20, 2023)
Vietnam beefs up defence cooperation with Laos and Cambodia
Ringgit ends marginally higher against US dollar
Singapore and Hong Kong seek to calm nerves over Credit Suisse deal
Indonesia's Bali deports 47 in crackdown on tourists misusing visa rules

Others Also Read