The mobile payment aims at eliminating the need of carrying debit cards, cash and other cards for doing any kind of transactions. In addition, e-payment methods are being widely used in Vietnam, owing to change in customer preference from cash to digital payments and technological developments. Moreover, rise in adoption of smartphones and increase in internet penetration have fostered several banks in the country to implement immediate payment services. Furthermore, numerous benefits provided by mobile payments include, high security, hassle-free transaction, faster transaction processing speed and others.
As per the study published by Allied Market Research, titled, “Vietnam Mobile Payment Market by Type (Proximity Payment and Remote Payment), Mode of Transaction (Short Message Service, Wireless Application Protocol, and Near-Field Communication), End User (Personal and Business), Application (Hospitality & Tourism, Media & Entertainment, Retail, Healthcare, Energy & Utilities, IT & Telecommunication, and Others), and Type of Purchase (Airtime Transfer & Top-Ups, Money Transfers & Payments, Merchandise & Coupons, Travel & Ticketing, and Others): Opportunity Analysis and Industry Forecast, 2020–2027,” the Vietnam mobile payment market size was valued at $250 billion in 2019, and projected to reach $2,732 billion by 2027, growing at a CAGR of 30.2% from 2020 to 2027.
The latest technological developments and surge in demand are the prime factors behind the rapid Vietnam Mobile Payment Market growth. The report includes a detailed study of the major market trends, driving factors, top 10 market players, and prime investment pockets.
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Major market players
The report covers a comprehensive study of the major market players that are currently operating in the Vietnam Mobile Payment Market. These market players are Movi, M_Service, National Payment Corporation of Vietnam (NAPAS), NganLuong.vn, OnePAY, Orange, PayPal Holdings, Inc., SohaPay Electronic Payment Tool, VietUnion Online Services Corporation (Payoo), and VNG Corp.
The competitive analysis of these organizations includes a thorough business overview, portfolio analysis of services and products. The companies have adopted several strategies including joint ventures, partnerships, new product launches, mergers & acquisitions, and collaboration to continue their dominant position in the market.
The report offers a comprehensive study of the dynamic driving and restraining factors, major challenges, and lucrative opportunities. Furthermore, the report provides a SWOT analysis that aids to understand the restraining and driving factors in the industry. The report outlines market segmentation and covers the study of major market players. Moreover, the report provides an in-depth study of the impact of the Covid-19 outbreak on the global Vietnam Mobile Payment Market growth with an overview, definition and scope highlights.
The Vietnam Mobile Payment Market report provides a detailed analysis of the market based on multiple parameters such as sales, sales analysis, market size, and major driving factors. Furthermore, the report provides Porter’s five forces analysis, SWOT analysis, portfolio and financial analysis, and business overview of services and products. Such statistical tools offer essential information about leading market players and help recognize lucrative opportunities in the industry. The report helps market players and new industry entrants to formulate sound business strategies and leverage the upcoming opportunities in the market.
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The report provides a detailed study of the major market trends and driving factors that increase the growth of the Vietnam Mobile Payment Market. The study of drivers and opportunities helps in understanding the dynamic industry trends and how companies can leverage such trends. On the other hand, the study of challenges and restraints included in the report helps in recognizing lucrative market investments. The global Vietnam Mobile Payment Market report offers both quantitative and qualitative analyses of the market. The qualitative study covers the value chain analysis, pain point analysis, and key regulations.
The report includes a detailed analysis of the impact of the Covid-19 pandemic on the market. The prolonged lockdown across the globe and stringent restrictions on international trade has a significant impact on the global Vietnam Mobile Payment Market. The Covid-19 outbreak has resulted in a disrupted supply chain and increased the prices of raw materials. The report provides consumer preferences, trends, and budget impact on the market due to the Covid-19 pandemic.
The global Vietnam Mobile Payment Market offers detailed segmentation based on types, applications, and region. The Vietnam Mobile Payment Market is segmented on the basis of geography. This market study helps to devise business strategies and recognize lucrative opportunities.
The report includes a comprehensive study of market trends, major market players, and top investment pockets that help understand strategies and make informed decisions. The study involves a detailed analysis of the top impacting factors and major investment pockets that affect the overall market growth.
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Key Market Segments
- BY APPLICATION
- Hospitality & Tourism
- Media & Entertainment
- Energy & Utilities
- IT & Telecommunication
- BY TYPE OF PURCHASE
- Airtime Transfer & Top-Ups
- Money Transfers & Payments
- Merchandise & Coupons
- Travel & Ticketing
- BY END USER
- BY MODE OF TRANSACTION
- Short Message Service
- Wireless Application Protocol
- Near-Field Communication
- BY TYPE
- PROXIMITY PAYMENT
- REMOTE PAYMENT
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Pawan Kumar, the CEO of AMR, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.