26-Jun-18, Vietnam Business TV 

Electronic payments in Vietnam grew 22% in 2017  to USD6.1 bn and will double to USD12.3 bn by 2022. These payments have grown due to more electronic payment options becoming available, increases in Internet usage and smartphone ownership.

E payments boom in Vietnam with new service providers (c) Vietnam Business TV

Image: Vietnam Business TV

Over half of Vietnam's population is online, and the potential for the electronic payment sector is huge due to the expanding middle class and improved communications infrastructure.

VNG, operator of the popular Zalo messaging app, plans to install ZaloPay e-payment terminals at more than 1,000 convenience stores and electronic shop locations by the end of 2018. These terminals will allow users to deposit money, pay for online transactions and utility bills, and transfer money using QR codes.

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 Financial Services insights